Annualized up to 7465%! What is the new meme coin LOVE?
As various investors are still considering whether the craze for meme coins has really faded, and whether there are still new opportunities to be seized, on May 30th, a new meme coin LOVE (ERC20) issued by crypto KOL @M4573RCH has been launched and successfully attracted market attention! The current official website farm APY has reached up to 7465%, this astonishing annualized figure directly indicates the hotness of LOVE. So why does it stand out from the crowd and what makes it unique?
Quick understanding of the two innovations of LOVE
The LOVE smart contract runs on the Ethereum mainnet, and the community will review the transparency and security of the contract code. After the code review period, transactions can be made through the love.game user interface.
1. Issuance Innovation
LOVE tokens are not pre-sold, publicly sold, or "fairly launched," but are introduced with an interesting and innovative gameplay: "Pass on the love."
Currently, LOVE tokens are undergoing a one-week airdrop activity! The method of participation is as introduced in the founder's tweet:
To be eligible for a portion of the initial supply airdrop, please send a 0ETH txn to:
The address 0x2b82C78AE3c973c1Ce39D63b5d63c6CB8DB199EA. No funds need to be sent, only a 0ETH transaction is eligible. It is currently estimated that each address can receive 1000 LOVE tokens, and the deadline for claiming is one week. The claiming address is available on the official website.
This type of airdrop means that you only need to spend a gas fee to receive up to approximately 1000 LOVE tokens. According to real-time data, the price of LOVE tokens on the MEXC exchange is $0.05, and the huge profit potential is enough to attract a swarm of investors.
2. Trading Innovation
Anyone can buy or sell LOVE tokens, but on-chain transactions must have at least 1 token for interaction. It feels like passing on the love, because if a user without airdrop eligibility wants to buy LOVE tokens, they can only rely on existing holders to obtain at least 1 token for subsequent transactions.
Currently, LOVE tokens are listed on the MEXC centralized exchange, and any desired number of tokens can be purchased in off-chain exchanges, without the condition of having 1 LOVE token.
Provision of Liquidity and Staking for LOVE Tokens
LOVE token holders can provide liquidity for LOVE/ETH pairs on the official website farm and Uniswap, and receive LOVE token rewards through staking, with the current staking APR at 7465%! However, this is only one side of the annualized interest rate, and it also comes with a hefty 10% tax.
On May 31st, the official Twitter live reiterated that the future protocol will introduce a single-sided staking pool.
In addition, the white paper also states that other token pairs will be provided in the farm in the future.
LOVE Related Data
According to @wuligy / LOVE Metrics data, as of May 31st, a total of 126,896 addresses meet the airdrop claim rules. Currently, 76,405 (60%) of the addresses have claimed the airdrop, and 33,012 (43%) of the claiming addresses continue to hold the LOVE tokens.
From the timeline, most users choose to sell the tokens after claiming, and in comparison, the actual buy orders are indeed few. Even though each transaction requires at least 1 LOVE token, if there are not enough new users entering, then in fact, this mandatory demand does not significantly affect the demand for LOVE tokens. It is necessary for more users to reach a consensus on the value of the token and for new users to enter, before the token price can spiral upwards.
Let's focus on the market operation and construction of LOVE. According to Twitter data, the official LOVE account, registered on May 27th, reached approximately 18k followers in just 4 days. In addition, according to on-chain data, the amount of ETH destroyed by LOVE tokens on May 30th exceeded Uniswap, making it the number one on the entire Ethereum network.
Risks and Expectations
Currently, LOVE is in its infancy, with sufficient innovative and interesting token gameplay, and low entry barriers, it also possesses fairness. From the community market data, LOVE is indeed another ripple in the meme world. However, the buying and selling data also inevitably raises concerns about whether LOVE can withstand market selling pressure, or whether there is a risk of large-scale selling by whales after buying.
As mentioned earlier, the future roadmap and implementation of LOVE are highly anticipated. For example, the white paper mentions that in the future, the LIPS governance portal will promote the proposal of LOVE improvements, and AI computing will be able to use LOVE tokens to purchase AI computing power from OmakaseaDev supercomputers, and its income mechanism will be managed by LOVE token holders, giving LOVE rich governance functions.
Finally, when investing in LOVE and other meme tokens, risks cannot be ignored, so it is crucial to diversify investments and explore valuable protocol projects to spread risks. It is recommended to pay attention to veDAO, a decentralized investment and financing platform, to learn more valuable information. Friends interested in LOVE tokens can find more latest information through the following links: Official website:
Twitter:
https://twitter.com/LoveTokenEth
Follow Us
veDAO is a DAO-led decentralized investment and financing platform, dedicated to discovering the most valuable information in the industry, and enthusiastic about exploring the underlying logic and cutting-edge tracks of the digital encryption field, allowing every role within the organization to fulfill their responsibilities and receive rewards.
Website: http://www.vedao.com/
Twitter: https://twitter.com/vedao_official
Facebook: bit.ly/3jmSJwN
Telegram: t.me/veDAO_zh
Discord: https://discord.gg/NEmEyrWfjV
🔴Investment carries risks, the project is for reference only, please bear the risks on your own🔴
TrendX
