In hunt of the next big memecoin, ByBit launched a survey asking the twitterverse which memecoin they are betting on. With almost a million views, KUMA ended up on top with 48.3% of the total votes.
According to the tweet by ByBit, the Twitterverse was asked to vote on their favorite memecoin. Additionally, 968,603 votes were locked in at the end of the survey, with Kuma Inu winning by 48.3% of the total votes.
Here’s the Tally on Twitter for the Next Big Memecoin:
Total percentage of votes: 48.3 percent
Total percentage of votes: 19.6 percent
Total percentage of votes: 18.4 percent
Total percentage of votes: 13.7 percent
Based on its website description, KUMA, otherwise known as Kuma Inu, is a community-focused, decentralized cryptocurrency directly designed for “breeders.” The hodlers will have to stake their meme tokens to get a dKUMA reward.
— BYBIT 🦍 (@Bybit_Official) October 31, 2021
All You Need to Know About KUMA:
- Token Name: Kuma Inu
- Token Symbol: KUMA
- Total Supply: One Quadrillion
- Liquidity: Burnt
As for tokenomics, Kuma Inu stated that it should remain as simple as possible with no need for advanced functions of smart contracts being used. Besides, the token is said to be completely decentralized and community-driven.
Kuma Inu Products for Hodlers
There are two main products that Kuma Inu is offering its hodlers, with one of them coming soon. The first would be Kuma Breeder, a yield farming protocol invented for meme coins. To participate, hodlers have to deposit their meme coins in order to earn passive income.
The token’s second product is offering is the KumaDex which is coming soon. As per the explanation, the Kum Dex will be a decentralized vAMM based perpetual contract trading protocol made for meme coins. The best part is, the Dex will be adding up to 25% leverage for its long and short options.
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How Does KumaDex Work
As per the litepaper, the upcoming Dex is getting a few notable features. The first of these features is similar to the traditional Automated Market Makers like Uniswap, where traders won’t have to use centralized exchanges to place trades.
The Dex will work by interacting with KumaDex vAMM smart contracts. With this, traders will be able to gain exposure for derivatives for any particular assets on the market. Although most decentralized derivative trading platforms are still facing liquidity concerns, the upcoming KumaDex vAMM will be offering consistent on-chain liquidity.
The upcoming KumaDex platform utility and governance token will be known as dKUMA and will be built with a deflationary economic design. With that, 50% of the platform’s trading fees will directly be allocated to buyback & burn to help offset the rewards token emission and help increase the total scarcity of dKUMA.
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Written by Urian B.
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