MFER, the new meme token on the Base Blockchain, has been the main topic in some meme coin communities after the founder released a reminder.
The remainder simply stated the token economics of MFER but has prompted new speculations that things are not as simple as they seem.
Statement from the Founder of MFER
The founder of MFER who goes by the Twitter user name of Satoshi, just released a statement stating the token economics of the meme token.
Token Economics Tweet / Source: Twitter
In a tweet that was published yesterday, the founder stated some information regarding sources on materials to learn more about MFER as well as information about the token’s token economics.
From the tweet, it can be seen that the project is a fairly launched project through fair distribution of an airdrop.
The airdrops were distributed to some early supporters of the project, including owners of the MFER NFT or the non-fungible token art collection that was launched before the MFER Token was launched.
The tweet also detailed the launch of this token, where the founder stated it was a fair launch with an overall supply cap of 1 Billion MFER.
Those 1 Billion MFER were distributed fairly, where 20% of the total supply was given directly to the supporters of the project and 80% was kept for liquidity.
However looking at the current condition of MFER, the reality might not be the same as the information stated in the tweet, which prompted discussions in some communities.
Looking into BaseScan
Looking at the BaseScan, which is a blockchain scanner for the Base Blockchain, it can be seen that the distribution of MFER among holders is not as simple as the founder stated.
Holders Token Distribution / Source: BaseScan
The information stated that there 80% of the overall token supply is allocated towards liquidity pools, which usually are in the form of contracts or special wallets.
Looking at the information from BaseScan, there are only three special contracts that can be detected in the holder's list, where all of the tokens being held by those three equates to 18% of the total supply.
There might be more hidden with no tags on them yet, but overall 80% supply has been diversified so well meaning that there are no addresses that hold more than 15% of the supply.
Currently, the top 10 holders hold around 30% of the overall supply, but looking at the list, 16% of that is held by special contracts which can be held by liquidity pools.
But overall, looking at the holder's list, the current allocation and distribution of MFER are not the same as the initial distribution stated by the founder.
This is a sign to be careful when trading MFER and remember that it will get more volatile in the future if the distribution is still uneven as it is today.
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