The meme coin space has a new contender with Meme Kombat ($MK) launching to plenty of excitement and raising over $30k within hours of going live.
While many meme coins offer zero utility and rely only on community support to see growth, Meme Kombat will is not only a stake-to-earn coin offering an annualized percentage yield (APY), but also allows users to battle against each other.
The Battle Arena sees players able to wager directly against other players and put their $MK tokens on the line for rewards and bragging rights.
The presale is now open with tokens available for $1.667.
Meme Kombat Battle Arena
While everyone in crypto knows about the potential for huge gains offered by meme coins and the ability to generate rewards through staking, the Meme Kombat Battle Arena is a novel concept for earning.
The project combines artificial intelligence and blockchain technology to offer a unique gaming experience, with players engaging in player-vs-player and player-vs-game battles for rewards.
How Does the Battle Arena Work?
Players stake and wager their tokens on the outcome of battles between characters that represent various other meme coins – from Dogecoin and Shiba Inu to Pepe and Floki.
Victorious players not only win tokens but also other prizes, with the outcomes of battles processed on-chain to ensure complete transparency, security and tamper-resistant results.
Blockchain technology also allows for payment to be completed immediately.
Players can wager in real-time, placing bets as the action unfolds and there are various options including PvP and PvGame as well as side action including the first move, specific outcomes, and unique events as players dig deeper into the game’s mechanics.
Meme Kombat’s developers will also take a seasonal approach to the game, with new characters and features being released over time.
The roadmap also says that will include leaderboards and new battle types and rewards in the near-term while the future could include new game modes and further expansion.
Stake-to-earn crypto projects have long been popular and Meme Kombat is shaping up to be no different.
Even during the presale, new holders are able to immediately stake their tokens and earn an annualized percentage yield, which is currently 112%.
Staking is also vital to the Meme Kombat ecosystem as it allows holders to actively participate in the game and wager $MK on battles.
A staking period lasts 14 days and users can either decide to unstake tokens or leave them in the pool.
Partial withdrawals are not allowed but users are able to specify what portion of their staked tokens is to be used for wagering and what is to be used for staking rewards and generating APY.
Tokenomics, Presale and Team
The Meme Kombat team is public, doxxed and visible on popular social media sites such as LinkedIn.
This adds a huge amount of authenticity into the project and allays any fears that it could end up a rug pull or scam, like so many other meme coin projects.
Meme Kombat is also doing things differently with its supply. While many meme coins offer billions and even trillions of tokens, Meme Kombat has a supply of just 12 million – even smaller than Bitcoin.
A total of 6 million tokens (50% of the max supply) has been allocated to the presale, with tokens priced at $1.667 through one presale round for a hard cap of $10 million.
Another 30% of the supply has been reserved for the staking and battle rewards, with 10% allocated for DEX liquidity after the presale sells out.
The final 10% is for community rewards – which could include engagement incentives such as content creation or referrals – long-term loyalty or collaborative growth.
Notably, the team has not allocated any portion of tokens to themselves – again easing concerns over a rug pull.
The project is quickly closing in on $50,000 raised in its first couple of hours being live. $NK tokens can be purchased with ETH, USDT or BNB on memekombat.io.
For more information on the project and the Battle Arena, read through the Meme Kombat whitepaper.
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