The cryptocurrency Meme (MEME) token, which is expected to mock DeFi’s current food craze and was created on a joke, has become the latest favorite of speculators.
According to CoinGecko data, 1 MEME is now worth $ 1,701.61 after being listed by Justin Sun’s Poloniex.
The name that created the token, literally meme, is Jordan Lyall, product leader of the DeFi team at ConsenSys, who created the “Degenerator” tool to extract the worthless DeFi tokens. As you know, it does not take long today for someone to create a MEME token and add it to the cryptocurrency tracker CoinGecko.
The token named MEME had a fair distribution model. Anyone who opened a Telegram link and filled out a Google form received 355.55 MEME. The airdrop equates to a currency worth $ 611,546, which is enough to own a studio apartment in New York. Of course, not all MEME holders had strong hands. EthHub founder Anthony Sassano confessed to abandoning the airdrop from day one and therefore missed the luck of the accident.
“Nobody Even Uses”
The DeFi craze is compared to ICO projects that gain importance with worthless projects that go from scratch to peak from time to time. However, the standards of DeFi projects appear significantly lower, given that no one has to appear to have read the whitepaper written by freelancers.
In a recent interview with CoinMarketCap, Stellar CTO Jed McCaleb said the following about DeFi:
“I think it’s a bit exaggerated. Nobody even uses them normally. Do we really need derivatives and all that kind of thing? It does nothing but speculate. Is this used by normal people? “