While investors of all kinds are still considering whether the meme coin craze has truly faded and whether there are still new opportunities to be seized, on May 30th, a brand new meme coin LOVE (ERC20) issued by crypto KOL @M4573RCH went live and successfully attracted market attention! Currently, the APY of the official website farm has reached an astonishing 7465%, which directly indicates the hotness of LOVE. So why did it stand out from the crowd and what makes it unique?
Quickly learn about 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 ends, trading can be done through the love.game user interface.
1. Innovative Issuance
LOVE tokens were not presold or offered through a fair launch, but rather through an innovative and interesting gameplay: [Passing Love On].
Currently, LOVE tokens are undergoing a one-week airdrop campaign! The participation method is introduced in the founder’s tweet:
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To qualify for a portion of the initial supply airdrop, send a 0ETH txn to:
0x2b82C78AE3c973c1Ce39D63b5d63c6CB8DB199EA address. No funds need to be sent, only a 0ETH transaction is eligible. It is currently expected that each address can receive 1000 LOVE tokens. The deadline for claiming is one week, and the claiming address can be claimed with one click on the official website CLAIM.
This kind of airdrop means that you only need to spend a gas fee to receive up to about 1000 LOVE tokens. According to the real-time price of LOVE on MEXC exchange of 0.05 US dollars, the huge profit space is enough to attract investors to flock to it.
2. Innovative Trading
Anyone can buy or sell LOVE tokens, but on-chain transactions must have at least 1 token to interact. It’s like a relay race, because if users without airdrop qualification want to buy LOVE tokens, they can only rely on existing holders to get at least 1 token for subsequent transactions.
Currently, LOVE tokens have been 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.
Liquidity Provision and Staking for LOVE Token
LOVE token holders can provide liquidity for the LOVE/ETH pair on the official website’s farm and on Uniswap, gaining LOVE token rewards through staking. The current APR for staking is 7465%, but this is only one side of the annual interest rate, which also comes with a substantial 10% tax fee.
On May 31st, the official team reiterated via Twitter Live that the protocol will introduce a single-sided staking pool in the future.
Additionally, the whitepaper also states that other token pairs will be available 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 rules. Currently, 76,405 (60%) of the addresses have already received the airdrop, and 33,012 (43%) of the receiving addresses continue to hold the LOVE tokens relative to the total number of LOVE token holders.
In terms of the timeline, most users chose to sell after receiving the tokens, and there were actually not many real buy orders. Even if each transaction requires holding at least 1 LOVE token, if there are not enough new users entering the market, the forced demand does not significantly affect the demand for LOVE tokens. It is only with this condition and the consensus value of more users that the token price may spiral upwards.
Let’s turn our attention to the market operation and construction of LOVE. According to Twitter data, the official LOVE account, which was registered on May 27th, reached about 18k followers in just four days. In addition, according to on-chain data, the amount of ETH destroyed by LOVE tokens on May 30th exceeded that of Uniswap, making it the first in the entire Ethereum network.
Risks and Expectations
Currently, LOVE is in its infancy and is innovative and interesting enough in terms of token gameplay, and also has low barriers to entry, making it fair. From the community market data, LOVE is indeed another meme wave. But at the same time, the buying and selling data makes people worry whether LOVE can withstand the market selling pressure, or whether there is a risk of whale selling after buying in the future.
As previously mentioned, the roadmap and implementation of LOVE’s future are eagerly anticipated. For example, the whitepaper states that the future LIPS governance portal will facilitate proposals for LOVE improvement, and AI computing will be able to purchase AI computing power from OmakaseaDev supercomputers using LOVE tokens. Additionally, its revenue mechanism will be managed by LOVE token holders, and LOVE may be endowed with rich governance functions.
Finally, when investing in meme tokens such as LOVE, risk cannot be ignored, so it is crucial to diversify investments and discover valuable protocol projects to spread risk.
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