Press release
Press release. There are over 300 crypto-exchanges nowadays, almost all of them offer the same mediocre features as the major exchanges like Binance. Membank is not a lazy copy of successors but an ambitious project that aims to revolutionize. According to its official announcement, MemeBank($MBK) will soon be listed on Pancakeswap on June 7, 2022.
The development team defines the project as a centralized exchange focused solely on the listing and trading of Memecoin, a token with high growth potential and strong appeal among young adults. The famous analogy is Dogecoin, which was a lazy copy of bitcoin originally designed to be used to pay for restaurant tips. In just two years the price of the token has increased by 500 times. However, behind Dogecoin’s success there are many Memecoins that got left behind. On an average, 20-30 new blockchain projects are launched per day and most of them will end due to lack of follower-base and early marketing. To help increase the survivability of projects, MemeBank offers a vote-to-list solution that effectively facilitates public acceptance of projects. MemeBank is a CEX that does not charge any listing fee, instead, projects only need to garner a sufficient amount of upvotes to be listed.
As Alec Ruble, one of the co-founders of MemBank, pointed out, “an exchange cannot make money when its users cannot profit from it.” MemeBank is not only startup-friendly but also starter-friendly. The team has closely aligned their interests with those of users since the very beginning. Its Tokenomics displays a set of Web3 features, including the management of trading fees. Most CEXs do not list Memecoin and startup projects, while DEXs typically charge higher trading fees. MemeBank integrates the advantages of both into one, a CEX that offers Memecoin trading while charging significantly lower trading fees. Not only that, the exchange also broadcasts 100% of the trading fee back to the community to reward users who make referrals, while paying dividends to holders of $MBK. Tokenomics itself indicates a steady growth in the user-base of Membank.
What is even more interesting is that MemBank has upcoming features that are yet to be seen in the industry. Membank’s development revealed in an earlier statement that the project will also focus on the simplification and socialization of crypto-trading, which feels like reverse-engineering of GameFi. First, MemeBank introduces a PVP contest where two users can bet on their monthly rate or the future market price of a particular token, requiring both users to deposit their betting amount to the exchange prior to the contest. When the contest ends, MemeBank will decide the winner and distribute the prize accordingly. A leaderboard will be put up to rank users based on their PVP win rate. Users with high win rates are given a number of privileges including official NFTs and highlighted name-tags.
Memebank is also going to introduce tribal system which works like a spontaneously organized mutual fund. Each user of Memebank can create their own tribes, and others can pay a monthly membership fee that goes to the tribal treasury to join the tribe. The tribe founder acts as a portfolio manager who invests the tribal treasury in various projects. Tribes will also be ranked on a leaderboard based on their net annual return and the size of the tribal treasure. Users can also see how much the tribal founder has invested in the fund if there is a strong interest alignment.
With regard to the socialization part, each project listed on MemeBank has a separate live-chat where users can share memes, ideas and financial analysis of the project. To ensure that the best investors are the topmost, users with a higher win rate will be given priority speaking privileges as well as message pinning. Project leads can also update their project developments and news on live-chat. With this facility available, MemeBank will become a platform that caters to both socialization and investment needs.
Of all the blockchain projects we see, only the ones whose dev team puts in brain-power and sweat can succeed, and with this kind of innovation, Membank is certainly the next rising star of crypto-exchanges after Binance. Will become.
media Contact
Company: Memebank
Contact: Alec Ruble
E-mail: support@memebank.com
Website: www.memebank.com
Source: Membank
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