Rug.fun Turns Minting Ethereum Meme Coins Into a Competitive Game

Fancy creating your personal meme cash and getting rugged? This may be the sport for you.

Rug.enjoyable is a two-phased 24 hour sport which sees traders try and create and purchase into the best and lowest liquidity meme cash. Wherever in between when the timer hits zero? Then you definitely’re getting rugged.

That is as degenerate because it sounds. Within the first 12-hour section of the sport, gamers are in a position to create or purchase as many cash as they’d like. However solely the highest 10 cash will transfer into the second web page, with all different tokens being refunded.

Within the second section, referred to as the race, traders have 12 hours to make sure their luggage are among the many highest or lowest liquidity tokens within the sport. To take action, gamers can purchase or swap cash with an incrementally growing “rug pool” tax which shall be added to the prize pool.

As soon as the 24 hour timer ticks all the way down to zero, the tokens in first and final place win. Each “midwit” token in between is solely rugged, with their liquidity going to the winners of the sport together with the rug pool tax.

By the creators of Mint.enjoyable, an NFT discovery web site that was simply acquired by Zora, the Context crew created AIRDROP as the sport’s first token. The crew has allowlisted addresses which had been rugged by earlier tokens and NFT initiatives (akin to BALD). This token can be utilized to create or swap tokens in Rug.enjoyable.

Constructed on Coinbase’s Ethereum layer-2 community Base, the primary sport is at the moment within the race section. On the time of writing, AIRDROP is first with a multi-million greenback lead whereas RUGDOTFUN is final, solely $300,000 behind ninth place.

Because it stands, there may be $260,000 within the prize pool which shall be distributed to the tokens in first and final place.

This comes amid a cooler crypto market with devs and degens turning to stunning new techniques to pump tokens. We’ve not too long ago seen LiveMom carry out degrading acts if her son’s meme coin reached a sure market cap, whereas one other dev promised he couldn’t rug pull because of having no palms… he did have palms, and he did rug pull.