{"id":19286,"date":"2024-05-01T19:00:02","date_gmt":"2024-05-01T19:00:02","guid":{"rendered":"https:\/\/coinengineer.io\/?p=19286"},"modified":"2024-05-01T12:41:14","modified_gmt":"2024-05-01T12:41:14","slug":"fantom-foundation-enters-memecoin-trend-with-6-5-million-reward-pool","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/fantom-foundation-enters-memecoin-trend-with-6-5-million-reward-pool\/","title":{"rendered":"Fantom Foundation Enters Memecoin Trend with $6.5 Million Reward Pool"},"content":{"rendered":"<p><strong>Fantom Foundation, a layer-1 blockchain that is gaining in popularity,<\/strong> has made a crucial decision aimed both at getting the benefits of generating meme coins from an expensive trend and at providing a safety environment.<strong> CEO Michael Kong<\/strong> encouraged vision, relying on successful experiences of similar projects, amidst crypto giveaways madness.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/fantom-foundation-enters-memecoin-trend-with-6-5-million-reward-pool\/#CEO_Michael_Kong_Aims_for_Safer_Memecoins_Amid_Trading_Craze\" title=\"CEO Michael Kong Aims for Safer Memecoins Amid Trading Craze\">CEO Michael Kong Aims for Safer Memecoins Amid Trading Craze<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/fantom-foundation-enters-memecoin-trend-with-6-5-million-reward-pool\/#Strategic_Move_to_Ensure_Integrity_and_Customer_Satisfaction_in_Booming_Sector\" title=\"Strategic Move to Ensure Integrity and Customer Satisfaction in Booming Sector\">Strategic Move to Ensure Integrity and Customer Satisfaction in Booming Sector<\/a><\/li><\/ul><\/nav><\/div>\n<h3><span class=\"ez-toc-section\" id=\"CEO_Michael_Kong_Aims_for_Safer_Memecoins_Amid_Trading_Craze\"><\/span>CEO Michael Kong Aims for Safer Memecoins Amid Trading Craze<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Kong ideates a scene where the memecoins are securely sheltered under the robust security system, free from the destabilizing fraudulence that had characterized this domain of cryptocurrencies. To make this vision a reality, <strong>$6.5 million<\/strong> will be dedicated to compensation for the developers out of the total amount received by Fantom as an award in the nearly <strong>$50 billion developers market.<\/strong><\/p>\n<p>The most popular cryptocurrencies, memecoins which have mainly selected platforms such as <strong>Solana and Base,<\/strong> have surprisingly witnessed the highest trade volume on <a href=\"https:\/\/coinengineer.net\/blog\/maneki-neko-maneki-a-lucky-cat-meme-coin-on-solana\/\">Solana<\/a> in such a manner that it is even bigger than the Ethereum trading volume during the memecoin hype peak. On the other hand, a massive build-up has been tarnished by the alarming reality of scams, to the extent that one out of six memecoins displayed on Base have been proven to be fake.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Strategic_Move_to_Ensure_Integrity_and_Customer_Satisfaction_in_Booming_Sector\"><\/span>Strategic Move to Ensure Integrity and Customer Satisfaction in Booming Sector<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The objective goal of this initiative was advised by Kong who presented it as part of the MemeGlobal event held in Sydney, Australia on April 30. The setup of a 10 million Fantom prize contest of $6.5 million is their grounded argument for developing safe and adequate soil for memecoin projects.<\/p>\n<p>Kong stressed that these two criteria were key to the company eventually being successful. As long as it is <strong>DeFi<\/strong>, <strong>NFTs<\/strong> <strong>or memecoins<\/strong>, <strong>Fantom<\/strong> platforms remains customer-centered, but only with a client promise of safety and integrity.<\/p>\n<p>Not far behind Kong came the co-founder Andre Cronje, who enumerated some of the means by which they can create a safe launch and exploit of memecoins within the Fantom ecosystem. Such legal instruments integrate the ownership of the token liquidity with the Fantom Foundation as well as Marketing and Team assets in a responsible manner.<\/p>\n<p>Through the pragmatic approach to memecoin project, the platform of Fantom creates the democratic lauching of the projects that gurantees the wide distribution and the community involvement. Cronje\u2019s proposal has in-built mechanisms to lessen the risk of concentration, hence allowing many individuals to hold memecoin in a fair and even environment.<\/p>\n<p>The fact that Fantom joins the memecoin bandwagon is happening when the blockchain alongside is slowly climbing the ladder to the peak, being presently in the 38th position in DefiLlama&#8217;s list of total value locked (<strong>TVL<\/strong>) amounting to $108.3 million. The ability of Fantom to establish itself is a major challenge. Nonetheless, its pioneering spirit and persistence make it likely that it will breakthrough the blossoming memecoin arm with ingenuity and vigilance.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fantom Foundation, a layer-1 blockchain that is gaining in popularity, has made a crucial decision aimed both at getting the benefits of generating meme coins from an expensive trend and at providing a safety environment. CEO Michael Kong encouraged vision, relying on successful experiences of similar projects, amidst crypto giveaways madness. CEO Michael Kong Aims<\/p>\n","protected":false},"author":6,"featured_media":19287,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[5788,1332,5789],"class_list":["post-19286","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-genel","tag-fantom-foundation","tag-memecoin","tag-michael-kong"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Fantom Foundation Enters Memecoin Trend with $6.5 Million Reward Pool - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Fantom Foundation embarks on memecoin venture with $6.5M reward pool. 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