What is AIMEME? All You Need to Know About AIMEME

What is AIMEME?

The AIMEME project is a platform built on the Binance Smart Chain network that combines artificial intelligence, meme tokens, and NFT technology to create an AIGC+MEME ecosystem for users in the crypto meme space. The project is designed to allow users to create, share, and trade their originally generated memes while taking advantage of AI-powered tools and generators.

The ecosystem comprises the AIMEMEX platform for swapping between different meme tokens, NFTs for trading, GameFi, DeFi, and governance features that allow users to accumulate large amounts of AIMEME tokens.

Users can create memes, mint NFTs, stake tokens, and participate in the lucky drop prize game to expand the AIMEME community.

History of the AIMEME Project

The smart contract for the AIMEME project was first launched in the middle of 2023, with 200 AIMEME nodes operational. Alongside the launch of the smart contract is the IDO and the launch of its token, AIMEME.

On the 15th of August 2023, AIMEME conducted its token whitelist to share 100 million tokens, and its public sale required a minimum of 200 USDT to purchase tokens that could be pledged to participate in AIMEME raffle prize gameplay.

The successful IDO led to the onboarding of more than 500 users, and by the end of 2023, the project had started trading with multiple staking options open to users.

The AI-generated content (AIGC) function was launched by the start of 2024, allowing users to take advantage of AI features in the ecosystem. More meme tokens were also integrated, enabling users to participate in pledges and lucky draws for meme tokens other than AIMEME. Further, the AIMEMEX platform was developed to allow users to swap between meme tokens and stablecoins.

By the middle of 2024, the project aims to onboard more than 10k unique user addresses to the project, with more DeFi, swap, and pledges (single-currency and dual-currency) available to users. Finally, the AIMEME launchpad and DAO features allow users to create meme projects and onboard more meme tokens into the ecosystem.

Core Components of AIMEME: Proof of Staked Authority (PoSA) and Liquidity Pools

Proof of Staked Authority (PoSA)

As a project built on Binance Smart Chain (BSC), AIMEME uses the Proof of Staked Authority (PoSA) consensus mechanism, which requires 21 validators or nodes to approve a transaction in the network. The consensus mechanism supports decentralized smart contracts, is compatible with cross-chain transactions, and allows users to earn by validating transactions or participating in the network.

The AIMEME X Swap platform leverages the PoSA mechanism to provide a fast, secure, and scalable environment for meme coins, their communities, and their users. AIMEME also benefits from the large and active BSC community, which includes many developers, investors, and enthusiasts.

The AIMEME X NFT also uses the PoSA 21 validators node structure as a requirement for purchasing an NFT.

Liquidity pools

Liquidity pools are a collection of tokens locked in a smart contract that allows users to access specific tokens and projects efficiently. These liquidity pools are needed for decentralized trades, borrowing, and lending activities, and the pools are required to power GameFi designs.

The Liquidity pools in the AIMEME project are broadly categorized into the MEME X Swap Liquidity Pools and the Gameplay Pools. The MEME X Swap pools are relevant for swapping meme tokens like DOGE, PEPE, and BabyDoge within the AIMEME ecosystem.

The Gameplay pools are used explicitly for the “AIMEME Gameplay” feature, where users stake their AIMEME tokens for a chance to be among the chosen participants for the grand prize.

Features of The AIMEME Ecosystem: MEME X Swap, AIMEME X NFT and AIMEME Gameplay

MEME X Swap

Source: MEME X Swap Website

The MEME X Swap platform is a decentralized platform within the AIMEME ecosystem focused on creating the largest meme pool for the movement of meme tokens. It allows users to conduct such transactions as swapping, lending, and cross-chain bridges of meme coins such as AIMEME, Dogecoin, Shiba Inu, and BabyDoge.

As the first trading project of the AIMEME ecosystem, it also supports NFT trades, GameFI, and DeFi access for users intending to explore the decentralized opportunities on the platform.

The MEME X Swap platform allows users to earn while trading through the liquidity feature. It encourages users to provide liquidity to pools for meme tokens while providing a 10% trade rebate on transactions and a share of the fees.

AIMEME X NFT

Source: AIMEME Whitepaper

The AIMEME X NFT is a collection of non-fungible tokens listed on OpenSea and Gate.io that provide utility to their holders in the AIMEME ecosystem.

The NFT’s utilities are summarized in three features. First, the holder gets airdrops from the AIMEME ecosystem as AIMEME tokens. Holders are given a portion of any cooperative meme token collaborating with the AIMEME X ecosystem as airdrops. Finally, they get higher priority participation in any new feature released in the AIMEME ecosystem.

To obtain an AIMEME X NFT, the user must have a transaction history of purchasing around 200k AIMEME tokens. They also need to bind 21 arbitrary nodes in the AIMEME network.

Binding arbitrary nodes on the network improves security and efficiency. Binders may choose to communicate with any 21 nodes as long as they are valid and active and are in sync with the project’s rules.

AIMEME Gameplay

Source: AIMEME Whitepaper

The AIMEME Gameplay utilizes a staking pool open every six hours. To participate in the gameplay, users stake or pledge their AIMEME tokens starting from 1 million tokens and above, which is subject to a 2% handling fee.

The 2% is divided into two parts. Firstly, 1.5% is accumulated in a prize pool while the remaining 0.5% is given to the users responsible for inviting the participants (the inviters). The prize is shared with three randomly chosen users, and the accumulated prize pool is shared proportionally to the percentage of each winner’s contribution. The highest stake in the winners gets the highest share of the prize, while the lowest stake among the winners gets the lowest share of the price.

The participants who didn’t win would be refunded their pledged amount, less the 2% deduction. On the other hand, the winners would have 10% of their prize deducted to share with their referrers (5%) and those he recommends (5%).

What is The AIMEME Token?

Source: AIMEME Whitepaper

The AIMEME token is the native token of the AIMEME ecosystem, built with the BSC standard. The token has a total supply of 10 billion AIMEME and can be used for staking, paying fees, and conducting transactions on the platform.

The token distribution is divided into 80% or 8 billion tokens for the IDO launch, 10% allocated to rewarding the AIMEME community with airdrops, and 10% for the developers in the AIMEME platform. The token is designed to encourage buying with a 0% slippage on purchasing tokens while selling transactions incur a 10% slippage.

The 10% is shared by allocating 2% to the marketing addresses, 4% to the prize pool addresses,1.5% to nodes, 0.5% is destroyed, and 2% to the whitelist address.

The token IDO was launched fairly, which ensured that the token’s price stayed consistent throughout the IDO regardless of the number of participants or purchase transactions.

Risk Analysis

Advantages

The AIMEME ecosystem creates meme-focused liquidity pools with added features like DeFi, GameFi, NFT trading, and a launchpad, which would attract more meme projects and meme communities to the AIMEME project.

The growing community also integrates AI products as a unique selling point for AI enthusiasts while developing its functionalities and offerings to improve its position in the crypto meme space.

Its collaboration with already-established projects like Gate.io and Opensea would increase its visibility and credibility within the crypto space. If successful, these could increase the value of its native AIMEME token.

Disadvantages

One drawback to the AIMEME project is its unproven track record because it is new. Thus, potential users can succumb to uncertainty and doubt.

Another disadvantage is its focus on meme projects. As the crypto space is driving towards innovations and use cases for daily adoption, the hyper-focus on meme projects can limit its scope and general appeal among users who are critical of meme projects.

Finally, limited information about the project’s technology is available to the general public.

Challenges

As a crypto project, the AIMEME project is susceptible to the general volatility in the crypto space. The project is also not established, nor does it have a large community, making it difficult for AIMEME to compete with already established projects in the crypto meme space. The project is also at the mercy of the uncertain regulatory structure plaguing the crypto space.

Competitive Analysis

The AIMEME project is an AI-powered meme ecosystem similar to AI Doge, which is focused on generating and sharing AI-powered memes. And while both projects are tokenized platforms that integrated AI technology for meme enthusiasts, they have some key differences.

The first difference is their main focus. The AIMEME project is focused on the broader meme ecosystem to collaborate with numerous meme projects and create a massive pool of meme tokens. The AI Doge project is only focused on generating and sharing AI-generated memes. The AIMEME project also has features like NFT trading, DeFi, GameFi, and governance, while the AI Doge project uses a Play-to-Earn model to encourage user engagement.

Finally, the AIMEME project created in 2023 boasts a large, expanding community of users, while the AI Doge project built in 2022 boasts a smaller community.

While both projects are in their early development phase, the AIMEME project has more token utility and functionalities.

Is AIMEME a Good Investment?

The AIMEME token and AIMEME X NFTs are potential sources of benefits to holders, allowing them to receive airdrops from other cooperative meme tokens within the ecosystem. Holders get priority participation in new features, earn staking rewards, and enjoy 0% slippage fees for conducting transactions within the AIMEME ecosystem.

The token also gives holders governance rights when the AIMEME DAO is launched, allowing them to partake in important decisions within the project.

Since decentralized meme projects are centered around community participation, a unified pool for meme tokens and projects would be the center of numerous community activities. The AIMEME gameplay would also assist in fostering community participation, placing the AIMEME project in a favorable position in the long term.

How Can You Own AIMEME?

To own AIMEME tokens and become a part of the AIMEME ecosystem, users can follow a simple process.

Setup a Wallet

One way to own AIMEME tokens is to purchase them through an exchange. To setup an exchange wallet, users can create a Gate.io account, complete the KYC process, and add funds to the account to buy the token.

Utilize the AIMEME Tokens

Once users have acquired AIMEME tokens, they can explore the AIMEME project ecosystem by partaking in pledging, staking, purchasing AIMEME NFTs, generating meme content, and participating in governance to earn passive rewards.

Take action on the AIMEME Project

Users can trade the AIMEME token here.