Rug.fun Gamifies Meme Coin Creation and Trading on Ethereum Layer-2 Network Base
Rug.fun, a new game built on Coinbase's Ethereum layer-2 network Base, has introduced a unique twist to the world of meme coins by gamifying the creation, buying, and swapping of these tokens. The game, created by the team behind NFT discovery site Mint.fun, aims to reward players who can create or invest in the highest and lowest liquidity meme coins within a 24-hour period.
The game is divided into two phases, each lasting 12 hours. During the first phase, players can create or buy as many coins as they desire. However, only the top 10 coins will progress to the second phase, with all other tokens being refunded to their respective owners. This phase sets the stage for an intense competition among the most popular meme coins.
In the second phase, known as the race, investors have 12 hours to ensure their holdings are either the highest or lowest liquidity tokens in the game. To achieve this, players can buy or swap coins, with an incrementally increasing "rug pool" tax that contributes to the overall prize pool. This mechanic adds an element of strategy and risk to the game, as players must carefully consider their moves to secure a top or bottom position.
When the 24-hour timer reaches zero, the tokens in first and last place emerge as the winners, while all the tokens in between are "rugged," meaning their liquidity is distributed among the winners and added to the rug pool tax. This unique approach to meme coin investing creates a high-stakes environment where players must navigate the volatility of the market to come out on top or bottom.
The first token created for the game is AIRDROP, which was distributed to allowlisted addresses that had previously been rugged by other tokens and NFT projects, such as BALD. AIRDROP can be used to create or swap tokens within the Rug.fun ecosystem, giving these investors a chance to potentially recoup their losses or gain from the game's prize pool.
As of writing, the first game is in its race phase, with AIRDROP leading by a multi-million dollar margin and RUGDOTFUN trailing in last place, just $300,000 behind the ninth-place token. The current prize pool stands at $260,000, which will be distributed among the winners once the timer hits zero.
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