Two years after his disappearance, Sartoshi, the founder of the "old" NFT project mfer, came out with a new project mfercoin. What are the characteristics of this project? Will it detonate the Memecoin field like the popularity of mfer in the NFT market? This article will provide an in-depth explanation.
The Meme project mfercoin was born
If you are a "newbie" who has just entered the industry, you may be a little confused when you hear the name mfer (Moth**f**ker), but those "old guns" in the meme NFT field are definitely familiar with it.
Mfer was once a popular project during the NFT craze. It was once comparable to blue-chip NFT series such as Azuki and Cool Cats. Its founder sartoshi (@sartoshi_nft) is an anonymous NFT collector and meme artist. His pseudonym is the same as that of the founders of Bitcoin. Satoshi Nakamoto is very similar.
However, just when the mfer project was beginning to take shape, in June 2022, sartoshi suddenly announced his withdrawal from the NFT field on the Crypto Art, and has moved the mfers contract to the unofficialmfers.eth multi-signature wallet, "sartoshi_nft" will disappear permanently from the crypto field.
However, what is unexpected is that in the early morning of March 30, 2024, Beijing time, Sartoshi posted "mfercoin: a peer-to-peer electronic mfer system" on his personal platform, officially announcing the launch of Memecoin. : mfercoin .
That’s right, after “disappearing” from the crypto industry for about two years, sartoshi has returned with a new Memecoin project.
According to the information released by sartoshi, mfercoin is built based on the second-layer network Base supported by Coinbase. The contract address is: 0xe3086852a4b125803c815a158249ae468a3254ca. If the user needs to make sure to select the correct network when adding the project to the MetaMask wallet (you need to select Base in the wallet), then you can follow the instructions. Add a custom token using the mfercoin contract address.
Anatomy white paper, in-depth understanding of mfercoin
1. Why did Sartoshi launch mfercoin?
According to the white paper, Sartoshi believes that cryptocurrencies are no longer just for early developers. As cryptocurrencies begin to underpin social structures and transactions in a trustless manner, people from all walks of life will become cryptocurrency users, cryptocurrency holders, and cryptocurrency participants.
Therefore, mfercoin hopes to become a Memecoin for crypto users and a memecoin created based on the spirit of mfer. mfercoin has no intrinsic value, no profit expectations, and no prescribed utility. It is a token that represents the pioneers of cryptocurrency and future cryptocurrency participants. Memecoin, its concept is consistent with mfer NFT.
2. mefercoin supply and initial distribution
The fixed supply of mfercoin is 1 billion. There will be no additional issuance and no pre-sale. The project initiator will not receive the initial allocation of mfercoin. Sartoshi said that it will create a market that allows users to trade mfercoin according to their needs, and will invest a small amount of funds to support its liquidity. mfercoin will be built into a typical Memecoin, not for profit, similar to Dogecoin.
In terms of token distribution:
- Approximately 20% of the token supply will be distributed to thousands of wallet addresses in the mfer ecosystem (such as NFT holders, artists, community vaults, etc.), mainly including:
- - Various NFT holders in the mfer ecosystem;
- -Artists whom we have collaborated with;
- - Community vaults and signers, as well as on-chain mfer contributors.
- The remaining 0% will be invested in the liquidity pool and no other supply tokens will be retained.
The specific distribution situation can be found in the figure below:
It is reported that the largest single token distribution recipient so far is the mfers community treasury. The community treasury received 10 million mfercoin. This is to ensure that future contract signers have enough mfercoin available and distributed to mfer artists and contributors in an appropriate manner. The treasury will be controlled by the community and sartoshi himself has no control.
3. Logo, and why we chose Base Chain
Before starting mfer, sartoshi drew various drafts to reach the final character, including a thick-line version of mfer. He recently put this small free version called "mfer prototype" on the Web3 social platform Farcaster, and then Modifying it to have no cigarettes and a blue tint, this mfer fits mfercoin’s philosophy of welcoming the public into cryptocurrency, and ultimately mfercoin’s logo was born:
As for why blue was chosen, it is because mfercoin is built on the Base chain. Base is currently one of the easiest places to access cryptocurrency, and Base is based on Ethereum, which is the origin of mfer.
The market's short-term reaction is enthusiastic, but what will Mfercoin ultimately bring to the Meme crypto?
After the launch of Mfercoin, it quickly attracted the attention of the encryption community. According to dexscreener data, mfercoin has exceeded US$0.25 at the time of writing this article, and its market value is approaching US$250 million, with a 6-hour increase of 182%. The project has attracted nearly 25,000 transactions, with the transaction volume so far reaching US$58.8 million.
The short-term popularity of mfercoin has also brought new popularity to mfer NFT. According to Coingecko data, the transaction volume of mfer NFT in the past 24 hours exceeded 150 ETH, an increase of 2855.4%, and its floor price also rose to 0.58 ETH, with a 24-hour increase of 55.2%.
The question now is whether mfercoin will be a flash in the pan, or will it inject new and more lasting vitality into the Meme crypto. Judging from the name of the mfercoin white paper, Sartoshi seems to have imitated Satoshi Nakamoto again, but compared with Satoshi Nakamoto, he seems to lack something.
Sartoshi admitted that when he transferred the mfers contract and royalty share to the mfers community treasury in 2022, he thought that he would disappear like Satoshi Nakamoto and let mfers continue to exist without the founder like Bitcoin. This is indeed cool. and mysterious thoughts. However, in hindsight, I should have retained the original X platform identity and stayed. Now being distributed to thousands of holders, artists, and other MFers, mfercoin is a peer-to-peer electronic mfer system ready for all upcoming cryptocurrency users.
