More than I week ago, I saw @trumpman 's post on #gifu. It's a meme coin created by @raymondspeaks who is behind the $BRO token and brofi.io. Others involved in the project are @cryptoeater, @epic-fail and @stickupboys. Unlike the other tokens in brofi, $GIFU is made on BSC and can be traded in Pancake swap. It's also available on hive-engine, SWAP.GIFU.
Tokenomics
Token supply: 1B tokens
Market cap: Around $70k
Token address: 0xe67bd421a9b5da1055d5bac24ae9063bbf4bf751
Gifu is traded on PancakeSwap , where it pairs with Wrapped BNB (WBNB). It's also traded on hive-engine .
A Meme Coin with Utility
A lot of people like meme coins as we can see from popular ones like $DOGE, $PEPE, $SHIB and others. Gifu on the other hand, is not just a meme coin. It has some utilities and collaborations to earn revenues. As the name implies, they create gifs as a form of advertisement. They are also a platform for gif artists to market their art.
Gifu already created some gifs for @bradleyarrow 's @thebbhproject . They have also announced a collaboration with Splinterlands and other collaborations teased but not yet announced.
Gifu Burning Mechanism
Gifu is designed to be deflationary token with constant burning mechanism. You can check the burns here.
BSC Tax
There is a 3 % tax on every buy & sell order on BSC. The more it's traded, the more tokens will get burned.
Gif Collaborations with other Projects
For every collaboration that Gifu enters into, more Gifu is burned. Currently, such was announced for the BBH Project, Splinterlands and another unnamed project. The more collaborations, the more tokens burned.
Investments in Hive-engine Tokens
Part of the Gifu revenues were invested in hive-engine tokens that pay dividends while others are placed in liquidity pools. Revenues from these investments are used to buy back Gifu from hive-engine and burned.
My Thoughts on Gifu
Meme tokens are popular due to its viral appeal and community. Gifu is not only a meme token but has utility too. I also trust the team behind Gifu based on the performance of their other tokens. At only $70k market cap, I'm positive there is a lot more room for growth for this token. Being in BSC, I hope there will be more adoption in the future and see it trade in other exchanges. This will lead to more liquidity, burning and pump in price.
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