MEME Token Update (Supply and Staking)



My original plan was to issue MEME tokens at a rate so that it would remain around 0.0001 STEEM. However, I started a second token named Geek Rewards and I think that GEEK deserves more of my time and attention. Therefore, I've issued all 10 billion MEME at a price of 0.0001 STEEM each. All 10 billion will most likely never be sold so the price of MEME will probably continue being 0.0001 STEEM if not lower due to resell.

I think MEME can take care of itself. If people want a token for memes it's there. Either 1 million STEEM worth of MEME gets sold at which point that 0.0001 STEEM barrier gets broken or MEME will always have more supply than demand. It's at least an interesting experiment to see what happens.


I enabled MEME to now be a token that can be staked. In order to emphasize the MEME token's utility I set the cooldown for unstaking at the maximum 365 days. During the 365 day cooldown 365 transactions will be made. This means it will take a year for staked MEME tokens to be fully added to the user's balance. Each day a small amount of the unstaked MEME will be added to the balance.

If MEME becomes a successful token it should be because users want to use MEME. A cheap price for equal access and a long cooldown term for hodlers should help encourage active MEME use.