Meme coin raises over $8m in presale, approaches hard cap target
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The Meme Kombat presale has raised over $8 million, and gradually approaching its hard cap of $10 million. Meme Kombat is a project on Ethereum and MK can be bought using USDT or Ethereum (ETH).
Buyers can stake their tokens immediately, with an APY currently at 114%. However, this will decrease as the staking pool grows.
Meme Kombat: analysts’ take
Meme coins are usually driven by hype and excitement. And there are a bunch of them in the market.
However, Meme Kombat’s presale is successful, drawing coverage from crypto outlets and analysis from analysts.
YouTuber Austin Hilton is already backing the project.
Meanwhile, analyst Jacob Bury recently said Meme Kombat could take the same path as Myro.
Meme Kombat has been featured by leading crypto outlets, including crypto.news.
With this optimism, Meme Kombat has raised over $8 million.
A whale also purchased $13,841 of MK on Jan. 4
What is Meme Kombat?
Meme Kombat offers a GambleFi ecosystem equipped with play-to-earn (P2E) and staking mechanics.
The project lets users gamble on AI-generated battles between meme coin characters.
Fights occur in the Meme Kombat battle arena, an augmented venue where users can watch from up close.
Various game modes are available, including single-player, multiplayer, and side-betting. The array of game modes puts the control in the users’ hands.
Those looking for a fun-filled, competitive match-up could engage in multiplayer, while those short on time could play single-player.
Meme Kombat also leverages traditional odds mechanics to ensure a fair, realistic, and engaging gambling experience.
Staking is also available, encouraging users to lock up their tokens in exchange for passive rewards.
Meme Kombat staking and tokenomics
The staking mechanism leverages a variable yield model.
The more MK are staked, the lower the yield.
Currently, this yield stands at 114% APY.
Staking MK increases token demand and reduces circulating supply, a net positive for price.
Furthermore, MK serves as a utility since users gamble using the token.
Per the project, 50% of MK are allocated to the presale, with 10% to DEX liquidity, 30% to staking and battle rewards, and 10% to community rewards.
At the current stage, MK is available for a fixed price of $0.279.
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