Meme Coin question for DGB (DigiAssets). #329
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MemeCoinPonchos
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Hi everyone!
New to the community but love the tech!
Truly, DGB (Digibyte) is a sleeping GIANT.
I'm looking to launch my first meme coin and a series of meme coins over the next 20 years that are geared towards a very specific target audience. Options and Day Traders that inspire me (as I begin my journey learning how to day trade).
So I want to do the opposite of most MemeCoins as an artist and try to make meme coins with value to traders.
as I grow a niche audience in my trading journey (more so... a line of collectible meme coins that serve ideally as a play ground for traders.
I want to do it with DGB (Digitbyte) as the base layer because of the 5 algorhithm security which I feel would be unique for a Meme Coin that I want to hold it's value over 20 years and because I want to try and work to do my part to bring attention to the community of DGB because it's better tech than BTC, ETH, Lite Coin, and most of the top 30 coins currently being run on AWS!!
It's been so difficult to get a hold of DGB (with limited exchange listings) and store it so far but I've managed to figure that part out.
I've finally after some work have a hold of DGB (thanks to Crypto.com) and I am currently storing a bunch in a wallet. Next up is learing how to mine and open the app to support as another node :) and HODLer. But first the Meme coin.
The issue I am now having is that I want to build a Meme Coin but not have it be a pump and dump meme coin.
I want to explore custom tokenomics as my audience for these coins is Options and Day Traders. That community.
A very small and nich audience.
I have a vision for these coins and I want to work to have them bring as much mass adoption and positive attention to the DGB community as they can among the circles I will be learning in ie Day Traders.
There are so many platforms (no code) that allow ERC-20 and BSC, etc like Coin Factory with their token creators that offer tokenomics like minting, burning, capped supply, pauses, blacklists, ownership, and automatic tax and fees. It all seems so easy and they even have a simple process for manual burns, etc to be made easily. As well as that they've even got one page web builders with financial disclosure as well as bulk token senders ie like Solana also has for Airdrops to specific communities, etc. They make it all easy but DGB still is such an appealing layer to build a token on, even if it may be harder to customize the token how I want to and not as easy as say CoinFactory is as a solution.
I don't know code and I know the DigiAssets platform can do some of what I am looking to do with my Meme Coins but as for the features that are more complex for a non coder like me, I am turning to the community to see if it's possible to get help.
The Vision. Drawing some inspiration from what Doge coin did with Lite Coin when they merge mined.
Max token - Capped Supply of 7Mill.
75% locked in Escrow (3-5% released from escrow annually which equates to about 210,000-350,000 tokens per year).
Theoretically this could become a New Year's Eve ball drop tradition as it is highly likely that the token unlock every New Year's Eve would cause the price to drop. Sorta of funny Which works for a Meme coin if everyone already knows that's the pattern and anticipated behavior. New Year's Eve ball drop. MemeCoinPonchos price drop.
Monthly token burns (to mimic the earnings calls of stocks which day traders love to trade around because of the IV- implied volatility).
In the beginning I would need to be using a complex formula to calculate this manually depending on how the token is doing across multiple factors but ideally once the behavior is somewhat known, maybe then this could even be automated.
Unlike the escrow unlock on New Year's eve, these events (if the burns are large enough) would do the opposite and instead of price swing like a ball drop should be more like regular tidal waves of "price go up" through the year for traders to trade the vol.
I sort of want to be the Meme Coin playground and brand for Options and Day traders and a Collectible brand that brings attention to individual traders' personalities as well as pop culture design/humor/commentary in the meme characitures themselves, and the great tech of DGB.
How can I go about creating a token like this in the DigiAsset platform itself if I don't knwo code to implement more than just a token cap.
I need to be able to implement:
To also get the PoW mining in there as well. Engaging miners through mining and engaging traders through volatility.
The tokenomics of the coin almost seem to imply huge volatility in up and down swings that over time get compressed with a ceiling and a floor into almost like a constrained or predictable pattern or whiplashing lightning vol of what options and day traders usually love to trade around and that is the IV of earnings calls but in the form of a Meme Coin designed for that.
Fixed Max Token Supply (7 million):
A fixed supply can create scarcity, which is generally a positive for value if demand is present and increasing.
75% Locked in Escrow:
This signals a long-term commitment from the project and reduces the initial circulating supply, further contributing to scarcity and potentially positive price action.
3-5% Annual Release:
This is a controlled inflationary mechanism.
Whiled the Fixed Max Token Supply acts as a ceiling, the annual release means that the circulating supply will increase over time, impacting price if demand doesn't keep pace.
Monthly burns:
This introduces a deflationary mechanism.
The success of this strategy hinges on burns being substantial enough to impact the circulating supply and generate the desired volatility.
The price and growth of my meme coins would depend heavily on my brand's ability to attract, maintain, and grow a community by developing a compelling narrative or use case, and for the burn mechanism to generate interest and demand.
The volatility could attract options traders but might also deter long-term investors seeking stable returns, depending on their risk tolerance.
Any help or advice is much appreciated.
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