Introduction
Since Bitcoins introduction in 2009 Block Chain technology has continued to expand and develop various new age technology industries. New iterations have seen decentralised financial systems flood networks and provide economic opportunities for new enterprises in finance, art, content creation, blogging and non-fungible tokens. A recent fad taking the block chain industry by storm are meme tokens.
The most famous meme token within the block chain industry is Dogecoin which holds no real-world application or purpose other than to bring joy. The token itself depicts an image of a Shiba Inu k-nine that once was share on mainstream social media sites. The token continues to grow in popularity attracting the attention of many purchases that wish to add the token to their collection.
In many countries around the world trading digital assets and/or engaging in block chain activities is considered illegal and can warrant significant fines. Australia is a unique country which legalised the trade, sale and purchase of digital assets and has continued to lead the world in investing in the emerging technology.
With that in mind the project team at SKIPPY have decided to trial the development and implementation of the first Australian meme coin called SKIPPIE. Unlike many of the other meme tokens SKIPPIE will serve a purpose.
Token Image Design
Kangaroos are one of the most well-known Australian animals a unique powerhouse which gets around hopping about on its hind legs. Giving birth to their young offspring called Joeys They continue to care for their young in their pouch. We believe that Kangaroos best represent Australia as they are a strong breed that live in mobs and care for each other, united.
Art also depicted on the token image is of Indigenous design recognising 60,000+ years of Indigenous history, culture, and values (designed by an Indigenous Australian). There are no greater iconic colours that depict Australia than the famous Green and Gold which are often worn at sporting events and the Olympics. For this purpose, Green and Gold is depicted on the token.
Purpose
SKIPPIE will be starting off their life as a young Joey with a basic plan to be the best and most sort after meme token in the world, after all have you ever been able to catch a Kangaroo? Beyond that the token is a social experiment to aid in the recovery of the 2019 Australian bush fires which saw a large portion of Australia up in flames.
The Bush fires resulted in massive amounts of fauna and flora being destroyed with an estimated 46 million acres burned and approximately 3 Billion animals burned with a possible extinction event for a number of Australian animals. Through the tokens inbuilt reflective capabilities which provide liquidity to maintain a floor price a portion will reflect to the developers wallet to be held and used to provide community grants and initiatives to rebuild, rehabilitate and aid in reproduction efforts and rejuvenate much of the damage that was caused by the bush fires.
As Block Chain technology is legal in Australia there is a regulatory component which will be required by the project to follow and we have every intention where possible to meeting the expectations of regulatory authorities to maintain the continuation of the project, safeguard your meme token and provide support to the community.
Tokenomics
SKIPPIE will initially be launched on Binance as a BEP20 token with the hopes of expanding to ERC20, Terra Network and the added possibility of a launch on Secret Network. To ensure liquidity and a floor for the token a 3% automatic Liquidity Pool reflection has been implemented to provide a self-sustainable model.
To provide funding to employ developers, address contract issues, meet tax obligations including the fund-raising element to support the tokens’ objective the token has also included a 3% reflection to main contract wallet. Furthermore, the token also implements a 1% reward reflection which distributes the meme token to holders directly to their meme storage. The total reflection is 7% and slippage should be set to this when purchasing the meme.
The current circulating supply is set to 400 Million tokens noting that the contract has the ability to burn and mint new tokens. However, depending on the outcome of a recent senate inquiry which has recommended Australia recognise decentralized autonomous organization ( DAO ), there is a potential if approved to establish a legal DAO and put future tokenomics in the hands of the DAO and any future developments.
20% of minted tokens will be retained by the main wallet to support development, promotions and an initial 5% retained to provide the first donation in parts (no whole dump) once the token is sufficiently sustainable and selling will not cause loss of meme token.
NFTs
As Crypto ICOs are not clear within the Australian context for art and meme tokens and provide additional regulatory requirements for financial services the project will not be raising capital through ICOs. Instead the project lead will be providing capital through own personal funds which will result in smaller liquidity amounts available which may limit the amount of meme’s on offer but also ensures sustainability and buyer safety.
**Australian Advantage **
With Cryptocurrency banned in many nations it is creating a bubble effect with significant investment inflating the market cap without any means of exit. With many early investors now HODLing millions of dollars in digital asset value, much of this is being burned on NFTs, speculative and destructive behaviours.
In Australia it is legal to dispose of meme tokens and other digital assets for value through a reputable exchange and it is hoped that SKIPPIE can provide a portion of the digital asset sector who cannot exit the ability to retain their digital asset value in SKIPPY and provide for decentralised, community led, global building initiatives that benefit everyone.
Once the token is completely established and sustainable it is anticipated that the token ownership will be renounced, and the 3% reflection will provide SKIPPIE the required sustainability to continue and be the Cryosphere’s greatest Meme to ever be created!
Cautions
Please be aware that you are purchasing a meme token and pieces of art depicting an Australian icon set on iconic colours and Indigenous art. This art is not intended to be a financial service and purchasers are advised against such activity. Furthermore, digital art purchasers are advised to only purchase the art for what they believe it is worth there is no anticipation that the art will increase in value and any price volatility is the responsibility of the purchaser. Caution is to be used when buying SKIPPY.
Contract address
0x6F6E2DA8DB407B17d06FB4530fd1e42824fA881C
Very interesting development. I shall follow this projects development, and consider purchasing it to support your project.
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