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Meme Token
After the buybacks have been executed on Day 15, as per the Massive Buybacks section, MP will become the Meme Token of the Fantom Network. As a Halloween-themed cat token, it is suitable for this purpose! Furthermore, Fantom currently lacks an established leader in meme tokens.
Although the MiniPanther team has no official roadmap beyond the 15 days of supply expansion + buybacks, the team will support MP's transition to a community-run meme token project. If the protocol still maintains the required TVL to earn a Fantom infrastructural support grant while in the meme token phase, the team will still apply for such grant and shepherd the application faithfully through the approval process.
The protocol has several features to support this phase of the project:
- The transaction tax on MP selling is redistributed to stakers at rebase time. This means that there will still be MP staking rewards even after all supply expansion stops.
- Because the treasury withdraw function is disabled, The MP-DAI LP provided by the team and acquired by bonding will be forever locked in the bond depository contract. Therefore, time expiration of the LP lock is not an issue.
- The DAO will still own MP tokens after minting stops, which can be traded for outside staking pools or used in other ways to benefit the ecosystem
- The MiniPanther branding and its relationship to black cat-related charitable work could have enduring appeal
- We will add 500 million PantherUSD tokens to the treasury! The tokens will be locked forever, but we see no reason why they would not still increase our TVL to qualify us for higher tiers of Fantom infrastructure grants
With these features in place, MiniPanther could have a long, active lifetime as the meme token of the Fantom Network!
Last modified 1yr ago