- Introducing Rug.fun, a 24-hour game that allows investors to create and buy into meme coins with varying liquidity.
- The game, created by the team behind Mint.fun, is built on Coinbase’s Ethereum layer-2 network Base.
- As the crypto market cools, developers are resorting to innovative tactics to stimulate token activity.
Explore the world of meme coins with Rug.fun, a 24-hour game that challenges investors to create and buy into the highest and lowest liquidity tokens. This innovative approach to crypto investment offers a thrilling, high-stakes experience for seasoned and novice investors alike.
Rug.fun: A New Approach to Crypto Investment
Rug.fun is a two-phased game that offers investors the opportunity to create and buy into meme coins with varying liquidity. The first 12-hour phase allows players to create or buy as many coins as they desire. However, only the top 10 coins will progress into the second phase, with all other tokens being refunded. The second phase, known as the race, gives investors 12 hours to ensure their tokens are among the highest or lowest liquidity tokens in the game. This is achieved through buying or swapping coins with an incrementally increasing “rug pool” tax, which is added to the prize pool.
The Mechanics of Rug.fun
The game’s mechanics are designed to reward those who manage to secure their tokens in the first and last place when the 24-hour timer hits zero. Tokens that fall anywhere in between are “rugged”, with their liquidity going to the winners of the game along with the rug pool tax. The game’s first token, AIRDROP, was created by the Context team, who also created Mint.fun, an NFT discovery site recently acquired by Zora. The team has allowlisted addresses that were rugged by previous tokens and NFT projects, enabling these addresses to create or swap tokens in Rug.fun.
The Current State of Rug.fun
At the time of writing, the first game is in the race phase, with AIRDROP leading with a multi-million dollar lead and RUGDOTFUN in last place, trailing ninth place by only $300,000. The prize pool currently stands at $260,000, which will be distributed to the tokens in first and last place. This innovative approach to crypto investment comes amid a cooler crypto market, with developers resorting to novel tactics to stimulate token activity.
Conclusion
Rug.fun represents a fresh approach to crypto investment, offering a thrilling and high-stakes game for investors interested in meme coins. As the crypto market continues to evolve, it’s likely we’ll see more innovative tactics like this designed to stimulate token activity and engage investors.
