The MEME token will be used to pay for transactions on the network

Memeland team launches the Memenet blockchain to issue meme tokens

02.04.2024 - 10:35


3 min

What’s new? The team behind NFT-focused Web 3.0 platform Memeland has announced the launch of the Memenet blockchain, which will offer low fees and an easy way to create projects and applications. Memecoin (MEME) will be used as a token to pay for transactions.


What else is known? The team positions Memenet as a blockchain for creating meme tokens:

“History has shown that meme coins are the best way to bring blockchain to the people. We are here to supercharge it.”

In addition, the new network will offer users native yields for ETH and stablecoins of 4,2% and 6,9%, respectively. It will be enabled by ETH staking and robust Real World Asset (RWA) tokenization protocols.

Memenet, which is fully compatible with the Ethereum Virtual Machine (EVM), will offer low fees for deployment and asset exchange. Users will be able to easily launch their own meme tokens and set up fee-free transactions for decentralized applications (DApps) via APIs, as well as develop multi-chain applications using cross-chain protocols. The creators emphasize that they aim to decentralize Memenet gradually.

Memenet validators will receive daily rewards for participating in the network, and they will also be offered additional benefits.

The Memenet team also noted that its members have been working in the tech industry for 16 years, and since 2008 have been running the 9GAG entertainment portal, which is among the top 500 websites and has an audience of 200 million people.

Memeland, which launched in 2022, created three popular NFT collections, You The Real MVP The Potatoz, and The Captainz, as well as the MEME token, whose capitalization exceeds $644 million. To date, MEME is held by over 900 000 on-chain crypto wallets.

What is Memecoin (MEME)? Memeland project overview

What is Memecoin (MEME)? Memeland project overview

We talk about the ecosystem that unites memes, cryptocurrencies, and NFTs

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“It’s not Ponzi, it’s community,” the creators state in Memenet's launch announcement, which concludes with the following motto: “No utility. Terrible tokenomics. You’ll love it.”

Earlier, co-founder and former CEO of the crypto exchange BitMEX Arthur Hayes positively assessed the consequences of the growing popularity of meme tokens, as they attract new participants in the crypto space. Maartje Bus, vice president of research at Messari, also expressed a similar view, calling meme tokens a “Trojan horse” of cryptocurrency adoption.

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