A presale for a new Pepe-themed meme coin on its own Ethereum Layer 2 blockchain called Pepe Unchained ($PEPU) has passed the blue moon milestone of raising an eye-watering $15 million.
Pepe Unchained launched this summer to a wave of hype as meme coin fans bundled in to take advantage of virtually unheard-of staking rewards, alongside lower fees and 100x faster speeds for anyone transacting with $PEPU than its leading ERC-20 meme coin competitors.
There's little more than a day left to purchase $PEPU at the lowest fixed presale price of $0.00985 before the presale moves on to the next round where the price rises to $0.00986. Those who buy in earlier maximize their potential rewards.
This month the team also shared an ecosystem roadmap in a multi-tweet thread over on X.
In the thread, the team promises a custom Layer 2 decentralized exchange (DEX) for cheap swaps between $PEPU and supported tokens, alongside a Pepe Foundation, which will help fund "an entire ecosystem with the best developers in the space contributing."
Beyond the ICO, the token's likely listing on exchanges could smash the ceiling on its potential appreciation, so for those who are curious, there may never be a better time to buy in, while an investment of $100 bags over 10,000 $PEPU.
Read on to find out how Pepe's new Layer 2 token is rewarding its holders with more than just laughs and speculative potential.
Pepe Gets Unchained in $PEPU
The original Pepe (ticker: $PEPE) is the third-biggest meme coin in crypto with a $3.5 billion market cap.
Pepe was already famous four years before Bitcoin gave the world crypto in 2009. He was originally a character in the webcomic Boy’s Club, designed by Max Furie, and he was known for his catchphrase "feels good, man".
Pepe then went on to become the star of memes, and even appeared in the 2019–2020 Hong Kong protests. Since the meme coin $PEPE's launch, other tokens inspired by Furie's comic have dropped but none enjoyed quite the same success as the original.
Still, the capitalization power of the webcomic has attracted billions of dollars. The recently launched Brett coin ($BRETT) corners almost a billion of the market while $PEPE imitator $PEPECOIN's market cap approaches half a billion today.
Clearly, the appeal of these viral coins lies in their potential to blow sky-high. If you had bought $PEPE one year ago today, your stash would be up 1,124%. $BRETT holders that bought during February’s launch are up nearly 9,000%. Meanwhile, diamond-handed $PEPECOIN HODLers are up an unbelievable 24,389% from this time last year, according to CoinGecko.
So what sets Pepe Unchained ($PEPU) apart from its three Boy's Club predecessors? Unlike the other Pepe coins, which people hold to exploit their volatile and often rapid price rises, then sell for a quick buck, $PEPU's features make it a meme coin made for HODLing (holding on for dear life).
An incredible $15M raised!
— Pepe Unchained (@pepe_unchained) September 24, 2024
Get warmed up for the biggest launch of this bull season! pic.twitter.com/EyDn4uzZ6z
Pepe's New Layer 2 Capabilities and Tokenomics
Pepe Unchained is the first Pepe token to run on its own proprietary Ethereum Layer 2 blockchain.
Ethereum is the most commercially important blockchain, however, Ethereum can currently only process about 15 transactions per second (tps) which results in high network congestion and larger transaction fees.
To solve this, developers have created several Layer 2 protocols. Layer 2s sit on top of the main Ethereum network and process transactions independently on a side chain, before adding them to the Layer 1 blockchain ledger.
One famous Layer 2 is Polygon, represented by the $POL token (formerly $MATIC), which has a maximum recorded 429 tps.
Layer 2 protocol tokens have collectively amassed a market cap of over $20 billion.
Now Pepe Unchained, or $PEPU, is the first meme coin to utilize this technology, making it a hundred times quicker and cheaper to transact with than Ethereum. Thanks to the improved scalability, which offloads work from the main chain, Pepe Unchained offers $PEPU stakers far greater rewards than Layer 1 meme coin counterparts, with a variable yield rate currently set at 139% APY.
The project arrives with a dedicated block explorer to see all transactions on the Layer 2. It also offers instant and low-cost bridging between Pepe Unchained and Ethereum's Layer 1.
A total of 3.2 billion $PEPU, or two fifths of total supply of 8 billion $PEPU is allocated to the presale, with a hefty 30% (2.4 billion $PEPU) going towards staking. A tenth is earmarked for the token's marketing, while the remaining 20% is split equally between DEX liquidity, project development (both 7.5%), with the remaining 5% going into Pepe Unchained's Layer 2 treasury.
Learn more about Pepe Unchained from the project's official X and Telegram accounts.
Visit the official website.
The post Layer 2 Multi-Chain Meme Coin Pepe Unchained Presale Raises $15 Million in Presale appeared first on Cryptonews.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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