Rug.fun unveils meme coin investment game on Base network

Rug.fun recently launched a 24-hour game that immerses investors in the volatile world of meme coins.

The two-phase game challenges participants to create or invest in meme coins to achieve the highest or lowest liquidity. When the timer hits zero, coins that fall anywhere in between are completely rugged.

The game’s first phase, lasting 12 hours, allows players to create or buy as many coins as they wish. However, only the top 10 coins will proceed to the second phase, with all other investments being refunded.

In the subsequent “race” phase, players have another 12 hours to ensure their coins either top the charts or hit rock bottom in liquidity. Players can buy or swap coins to achieve this, contributing to a “rug pool” tax added to the prize pool.

As the 24-hour countdown concludes, the tokens in first and last place are declared winners, claiming the entire prize pool, including the accumulated rug pool tax. Tokens that do not fall into extreme positions are rugged, losing all liquidity to the winners.

AIRDROP, the first token in the game, was created by the Context team and is built on Coinbase’s Ethereum layer 2 network, Base. The team has allowlisted addresses previously rugged by other tokens and NFT projects, such as BALD, enabling users to create or swap tokens in Rug.fun.

At the time of writing, the game is in the race phase, with AIRDROP leading by a substantial margin and RUGDOTFUN trailing closely behind ninth place by $300,000. The prize pool currently stands at $260,000, set to be distributed to the tokens in first and last place.

The new game emerges in a cooler crypto market where developers and enthusiasts employ increasingly audacious strategies to drive token value.