The memecoin $MK has been attracting attention among the cryptocurrencies currently on offer. This asset is the utility token of the Meme Kombat platform. It will allow its users to place bets on fights featuring meme characters.
An algorithm with randomization capacity will generate the fights as a way of guaranteeing the smoothness of the events. There will be, according to the platform team, a wide variety of bet types (for example, against the platform itself, against other players or on other aspects of the fights than the winners).
It should be possible to place bets before the fights start or with these events already underway. In this article, we will explore the $MK cryptocurrency and its pre-sale, which, it is worth repeating, is in progress.
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In this article, we will discuss:
A memecoin $MK
The $MK memecoin is based on the ERC-20 protocol and was created with the aim of serving as a means for carrying out online betting and payment of their premiums. The total supply of $MK will be 120 million tokens, the allocation of which will be:
- 50% of the supply, in other words, 60 million tokens for pre-sale;
- 30% of the supply, in other words, 36 million tokens for remuneration for staking and for granting prizes for winning bets;
- 10% of the supply, in other words, 12 million tokens to provide liquidity for cryptocurrency negotiations on exchanges;
- 10% of the supply, in other words, 12 million tokens for awarding prizes to community members as a way to encourage their engagement;
According to the platform team, the project hopes to obtain participation from community members. Therefore, part of the cryptocurrency supply will be used to serve this engagement.
To place bets with $MK tokens, you need to stake them. However, it is possible to stake simply to earn passive income, which comes in the form of more $MK tokens.
When this article was being prepared, the $MK platform website reported that the staking yield was 271% annually. Furthermore, the website reported, 69% of the tokens that buyers had already purchased in the pre-sale were already in staking deposits. In other words, adherence to the practice of staking is great for now.
The pre-sale of $MK
By the time this text was completed, $MK pre-sales had raised around US$3.7 million. The payment methods for purchasing $MK tokens in the ongoing pre-sale are cryptocurrencies, namely: Ether, USD Tether and Binance Coin.
The price of the cryptocurrency, then, was 24.60 cents. In the next stage of the pre-sale of $MK, Meme Kombat’s utility token, the asset’s price will be 25.70 cents.
It is also worth highlighting that the resources that the site offers include information about how the platform works, including that organized in the Meme Kombat whitepaper, information about the platform’s staking mechanism and information about the project leader, Matt Whiteman.
In fact, Whiteman’s decision to make information about himself available, including your profile on the professional social network LinkedIn. This type of initiative is relatively uncommon involving cryptocurrency projects like Meme Kombat. The transparency that this measure seems to indicate may be attractive to potential users and potential buyers of $MK.
Influential voices have been mentioning Meme Kombat in a complimentary way, which may be contributing to the success that pre-sales of the asset have been achieving. For example, influencer Crypto Tony gave his endorsement to the Meme Kombat project. Another example of a respected voice that expressed optimism regarding the performance of $MK as an investment is influencer Jacob Bury, who said he believes that this asset could see its value increase by 900% in a relatively short time.
Meme Kombat is a platform under development whose concept presents interesting attractions, among which we can mention:
- Practicality for placing bets.
- The interest that internet memes arouse.
- The betting mechanic, whose design aims to provide pleasurable experiences.
- A wide variety of options for financial gains. These, in addition to prizes from winning bets, include passive income, which can be obtained by staking, and engagement rewards.
Alongside the possibility of earning from bets, the Meme Kombat platform opens up other earning alternatives to its users, especially through staking and encouraging engagement.
With the creation of a defined source for remuneration for staking with tokens of $MKfor which a portion of the asset’s token supply was allocated, it is likely that the yield from the staking mechanism will continue to attract investors.
The role of $MK in the functioning of the Meme Kombat platform has the potential to give rise to significant and lasting demand for the token. As the supply of cryptocurrency has a limit, it should not suffer devaluation due to inflation.
In summary, the Meme Kombat platform project has a promising proposal for online betting that innovatively combines several interesting ingredients. Furthermore, its team decided to allocate part of the project’s utility token supply to the distribution of rewards. They are to reward community members for their engagement, in order to encourage participation.
Of course, $MK is a cryptoactive with great appreciation potential, a fact that influential observers of the crypto scene recognize. However, it is undeniable that there are risks in investing in cryptocurrencies, especially in one that belongs to a project that is at such an early stage of its development, as is the case with Meme Kombat.
Therefore, it is essential that anyone thinking about buying $MK seek information about this asset, identify the pros and cons of buying it and evaluate how well acquiring the asset would serve their interests.
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The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.