Meme coins are cryptocurrencies inspired by memes and internet jokes. For example, Dogecoin (DOGE) was inspired by a dog meme created from a viral photo. Similarly, Shiba Inu (SHIB) is also created to make fun of Dogecoin (DOGE). These cryptocurrencies shouldn’t usually be taken seriously, but they can gain momentum when community members buy them.
As it becomes popular and its value soars, private investors sometimes jump in and push coins even further. Famous online personalities and celebrities are also increasing the popularity of certain meme coins. The supply of meme coins is usually very large or unlimited. Unlike Bitcoin (BTC), which is programmed to have a limited number of minable units, meme coins typically have billions of units in circulation. Also, meme coins usually do not have a mechanism to “burn” or permanently remove them from the cycle, so the number continues to grow.
Major meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) are often criticized for not having real-life applications, and they do respond by adding some notable features. But these are still not quite purposeful compared to what other cryptocurrencies are offering. Mehracki (MKI) is an upcoming meme coin that is capable of disrupting the cryptocurrency market. Its main aim is to utilize meme coins more prolifically, such that it is also considered a utility token that is composed of real-life applications.
Mehracki (MKI)
The Mehracki (MKI) ecosystem is built to be simple, interactive, and publicly accessible. Even though meme coins are based solely on hype and buzz, Mehracki (MKI) has some real-world applications to enhance its usefulness. Here are some features which make it a unique meme coin.
The Mehracki’s (MKI) smart contract allows both parties to set up protocol procedures to maximize democracy. Participants define specifications as well as constraints for building smart contracts and deploy them based on mutual consensus. The salient features of Mehracki’s (MKI) smart contract are reduced transaction costs, enhanced security, reduced reliance on trusted intermediaries, real-time execution and automated legal obligations.
Mehracki NFTs
Mehracki (MKI) holders will receive an NFT representing new spending milestones and status. The higher the level, the rarer the NFT and the higher its value in the NFT market. NFT also considers the weight of user votes in the DAO model system. In addition, voting rights depend on active participation and participation in the platform.
Travel centers, hotels, and restaurants can create NFTs as a way to prioritize bookings, discounts on specific services, and access to exclusive experiences. In addition to refurbishing hotels and restaurants, the proceeds from the sale of these NFTs can be used to acquire personnel services to transform attractions and hotel operations. By creating a laid-back atmosphere, businesses make travel and vacation memories that are more enjoyable for customers.
Staking and Yield Farming
The decentralized finance sector is growing rapidly in recent years. Businesses and individuals alike are looking to take advantage of innovative decentralized finance solutions. Decentralized finance not only strengthens global financial inclusion but also improves the use and management of digital assets. It allows users to generate passive revenue by storing crypto assets in liquidity pools. In contrast, staking is an innovative way to use crypto assets as collateral on blockchain networks that use the Proof of Stake algorithm.
Liquidity Pool
Liquidity pools are one of the basic technologies behind the current DeFi ecosystem. These are integral parts of automated market makers, lending protocols, yield agriculture, synthetic assets, and on-chain insurance. Investors can put their funds into the liquidity pool, and instead of providing them, they earn transaction fees proportional to their share of total liquidity from the transactions that take place in the pool.
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Source: https://thecryptobasic.com/2022/05/31/how-is-mehracki-mki-unique-from-other-meme-coins-like-dogecoin-doge-and-shiba-inu-shib/?utm_source=rss&utm_medium=rss&utm_campaign=how-is-mehracki-mki-unique-from-other-meme-coins-like-dogecoin-doge-and-shiba-inu-shib