Today, Base Chain has launched something fun and exciting. This time it is not social or MEME, but a "spinach" type application...

It is uncertain whether it is the code of wealth, but the data on the chain shows that some well-known KOLs have already boarded the train. What is it? Hold on tight, we are leaving.

The encrypted version of "Battle Royale" is coming, what is Rug.fun?

This project is called Rug.fun. It is a token issuance platform for the Base chain, which is similar to the popular MEME issuance platform Pump.fun on Solana. Anyone can issue coins on it.

But Rug.fun can be said to be an upgraded version of Pump.fun, with a stronger gambling nature. Why do you say that?

Rug.fun's coin issuance rules are very strange. The coin issuance is divided into two stages.

In Phase 1, anyone can create a token, and one cycle lasts for 12 hours. After the deadline, only the top 10 tokens with high liquidity will enter Phase 2, and the funds purchased will be returned to the eliminated tokens.

In phase 2, the top 10 tokens compete, and after 12 hours, only the 1st and 10th tokens win. The holders of these two tokens share the liquidity of all 2nd to 9th tokens, and each gets 50%. In addition, there is a tax on each purchase of tokens, and the later the purchase, the higher the tax. The winner can also share the tax.

The winning token will eventually be listed on DEX.

This means that the 10th token buyer should be the big winner, because there are fewer people and the prize is high. The first place is the most stable and has a high probability of getting the prize. The other 2-9 tokens are RUG, and the player's investment will be zero. This may be the explanation for the name of the project: Rug.fun.

Does this rule remind you of a movie: "Battle Royale".

How to play Rug.fun?

Now that we have agreed on the rules, let’s see what the current situation is.

Currently, the game has entered Phase 2 for the first time.

The No. 1 is AIRDROP, with $2.9 million in the pool. The gap with the No. 2 is huge.

It should be pointed out that AIRDROP is also the platform currency of Rug.fun. In other words, this first game is also the issuance of platform currency.

From the 2nd to the 10th place, the liquidity difference is very small, some of the differences are only a few hundred dollars. Therefore, the subsequent rankings are very susceptible to human intervention, and therefore, betting on the 10th place is very risky.

In short, if you are optimistic about the Rug.fun project, AIRDROP is good, and there is a high probability that you can get rewards. If you are a gambler, try to buy the 10th-ranked coin.

Currently, users can use the Base chain’s ETH to purchase this round of 10 tokens, but they cannot exchange them back for ETH and can only trade back and forth among these 10 tokens.

Can Rug.fun become popular?

Is Rug.fun fun? I can only say that as a casino, it is quite interesting.

Personally, I think that buying AIRDROP doesn’t actually give much in terms of rewards. Just look at the liquidity of the 2nd to 9th place and you’ll know that there isn’t much money.

Participation actually means being optimistic about the AIRDROP coin and seeing whether this project will become a phenomenal product, and whether it will rise due to hype at a time when the overall market trading sentiment is relatively low.

Here's some background information.

Compared with Punm.fun on Solana, this type of project is still very popular in the crypto. Data shows that in the past 38 days, its revenue has reached 5.2 million US dollars.

In addition, some uncertain information shows that the founding team of this project is a serial entrepreneur. Their previous projects include meme market, which is also a MEME launch platform. Another project that everyone is more familiar with is Mint.fun, an NFT launcher, which claims to have investment from Open AI CEO. The players spent a lot of money on it, but now it seems that it has all gone to waste. It is a hopeless case. Recently, Zora acquired it.

Judging from some social media and on-chain situations, the participating players include CXO.eggtoshi, an active player of the Base chain, and 0xsun, a well-known on-chain player, who invested 10ETH.

It has to be said that during this period, the overall market was unstable and the performance of the Base chain tokens was not very good. This is a big challenge for the projects that emerged at this time.

Previously, this project actually conducted a round of airdrops for Base chain users, and some popular MEME holders were able to receive AIRDROP.

You can view the airdrop and participate in the current competition at the following project address: https://rug.fun