MemeCoin Whitepaper

Introduction

MemeCoin is an innovative platform that empowers users to create and stake their own meme-themed tokens on the Shibarium blockchain. Designed for simplicity and fun, MemeCoin offers a unique staking experience where users can earn rewards by staking any ERC20-compatible token or their MemeCoin tokens. Built for speed and affordability, MemeCoin leverages Shibarium’s efficient infrastructure.

What is MemeCoin?

MemeCoin is a decentralized application (DApp) that allows anyone to deploy custom meme tokens and participate in a staking ecosystem. Whether you’re a token creator or a staker, MemeCoin provides an engaging way to grow your holdings through a transparent reward system. It’s all about community, creativity, and rewards!

How It Works

• Create Your Token: Launch a meme token with a custom name, symbol, and staking token.
• Stake to Earn: Stake any ERC20 token or MemeCoin to earn rewards in MemeCoin tokens.
• Reward System: Earn rewards that start high and gradually decrease over time until the total supply is minted.

Token Details

• Total Supply: 1,000,000,000,000,000 (1 quadrillion) tokens.
• Staking Units:
  • Stake Token: Custom unit set at creation (e.g., 1,000,000 wei).
  • MemeCoin: 10,000 tokens per unit.
• Mining Ends: When 1 quadrillion tokens are minted.

Reward Mechanism

• Stake Token Rewards:
  • Initial: 500 tokens per block per unit.
  • Minimum: 10 tokens per block per unit.
• MemeCoin Rewards:
  • Initial: 0.025 tokens per block per unit.
  • Minimum: 0.0005 tokens per block per unit.
• Decay Rate: Decreases 2% every 600,000 blocks (~1 month on Shibarium).
• Max Duration: Approximately 5 years (29,400,000 blocks).

Rewards are calculated per block based on the number of staking units. They decrease linearly over time and stop when the total supply is reached.

How to Create a MemeCoin

Use the MemeCoin DApp on Shibarium:

• Connect a wallet (e.g., MetaMask) with BONE for gas fees.
• Navigate to “Deploy MemeCoin.”
• Enter:
  • Name: e.g., “CatCoin”
  • Symbol: e.g., “CAT”
  • Stake Token Address: Any ERC20 token address.
  • Stake Unit: Minimum staking amount (e.g., 1,000,000 wei).
• Click “Deploy” and confirm the transaction.
• Retrieve your MemeCoin address from the DApp.

How to Stake and Earn

Stake with any MemeCoin contract:

• Stake ERC20 Token:
  • Search the MemeCoin address in the DApp.
  • Enter the amount (in multiples of the stake unit).
  • Approve the token and stake.
• Stake MemeCoin:
  • Search the MemeCoin address.
  • Enter the amount (multiples of 10,000).
  • Stake directly.
• Claim Rewards: Claim accumulated rewards anytime.
• Unstake: Withdraw all staked tokens and claim rewards in one step.

Security Features

• Non-Reentrant: Prevents reentrancy attacks during staking and unstaking.
• Immutable Parameters: Stake token and unit are set at deployment and cannot be changed.
• Hard Cap: Mining stops at 1 quadrillion tokens, ensuring predictability.

Why Shibarium?

Shibarium offers low-cost transactions and fast block times, making it ideal for a staking DApp like MemeCoin. Its vibrant community and compatibility with Ethereum standards enhance the accessibility and scalability of MemeCoin.

Get Started

Join the MemeCoin community on Shibarium! Create your own meme token or stake existing ones to earn rewards. Visit our DApp, connect your wallet, and start your staking adventure today!