Sources: Binance, project official website, white paper Compilation: Jinse Finance
On December 18, 2024, Binance Alpha announced the first and second batches of project lists, which are: KOMA, Cheems, APX, ai16z, AIXBT, CKP, GEAR, SD, SYRUP, and FARTCOIN. The first batch of tokens mainly focuses on high visibility and meme characteristics, while the second batch covers numerous DeFi projects.
This article will provide an overview of its token economy and project background to help readers understand its development direction and future possibilities.
1. KOMA
KKoma Inu (KOMA) is a dog-themed meme coin aiming to be the 'loyal guardian of BNB,' injecting new vitality into the BNB Chain ecosystem through community-driven and decentralized ideals. Currently, the price of $KOMA is $0.156997, with a circulation of 731 million, total supply equal to circulation, and a maximum supply of 1 billion. The circulating market cap is approximately $115 million.
KOMA has a passionate and active community, where members are not just supporters of the project but also drivers of ecological development. The project has received official recognition from BNB China and has become a beneficiary of the DWF Labs Meme Fund, bringing funding and resource support to enhance its influence in the BNB ecosystem. In addition, KOMA has partnered with FlokiFi, with initial liquidity locked for one year to ensure project safety and transparency. Community activities are rich, including airdrops, challenges, and social media interactions, creating a strong network effect that fosters close connections among users.
Token Economics
The economic model of Koma Inu (KOMA) is designed to be very intuitive, with clear distributions ensuring the project's stability and long-term development. The total supply is 1 billion, allocated as follows:
Prelaunch Allocation: 28%
Marketing: 12%
Charity: 5%
Team: 5%
Liquidity Pool (LP): 10%
Burned Mechanism: 21%
Milestone Burns: 19%
2. Cheems
Cheems is a Shiba Inu that comes with a sarcasm buff, known for its expressive face appearing in many memes. Cheems' popularity can be traced back to September 4, 2017, when a family posted a photo of it, and it became well-known for its love of cheeseburgers (Cheemshamburg).
Due to its fair token distribution system and immersive features (such as access to Cheemsverse and guild NFTs), the Cheems token has attracted tens of thousands of followers from around the world.
Cheems is the official token of the Cheems meme, which became a global phenomenon in 2023. A total of 690,690,690,690 Cheems tokens are available. The team has destroyed nearly half of the tokens.
Cheems initially conducted a 100% airdrop activity immediately after launching on the zkSync mainnet, once reaching a market cap of tens of millions of dollars, but as the heat subsided, the market cap dropped to less than a million dollars. After migrating to the BSC chain, Cheems once again showed impressive performance. It can be said that Cheems is the best-performing meme project on the BNB ecosystem during this period.
Token Economics
Cheems claims to be the king of memes. According to the team, Cheems exists to help those who have suffered from pump-and-dump schemes and exit scams. All Cheems tokens are used for airdrops, and the team does not take any share or income from the project.
3. APX (APX Finance)
APX is a leading decentralized exchange for cryptocurrency derivatives on major blockchains such as BNB Chain and Arbitrum. APX offers an order book and on-chain perpetual contracts, providing unparalleled opportunities for traders and stakers. Trade with up to 1001x leverage, zero slippage, and competitive fees. Maximize liquidity provider (LP) returns with the highest yields on a perpetual trading platform that hosts most stablecoin LP pools.
Token Economics
The APX token (APX) is the native utility token of the APX Finance platform. The APX token has a corresponding burn mechanism that can reduce the circulating supply, which is expected to stabilize its value. Users can earn APX tokens through trading rewards, with a distribution plan spanning ten years. From the third year, rewards will be halved, aligning with the potential future bull market. In addition, APX tokens will be locked for various purposes to ensure orderly circulation. Below are the details of the APX token allocation:
1. 50% (2,000,000,000 APX) allocated to users as trading rewards and liquidity provider rewards for a period of 10 years: 1,800,000,000 APX allocated to trading reward programs and leaderboard rewards. From the third year, the yield will be halved, releasing 15,000,000 APX per month; from the sixth year, the yield will decrease to 9,000,000 APX per month until all trading rewards are released; 164,250,000 APX allocated to APX's liquidity providers. From the third year, the yield will be halved, releasing 2,281,250 APX per month until all liquidity provider rewards are released; 135,750,000 APX allocated to future product launches.
2. 26.2% (1,100,000,000 APX) allocated to the community fund: the community fund will be locked and initially not released to the market. It will be used for the launch of future new products (such as Gamefi, Socialfi, DAO voting, etc.).
3. 9.5% (400,000,000 APX) allocated for marketing and partnerships: linear release over 5 years.
4. 8.3% (350,000,000 APX) allocated to users who have completed certain milestones since our early establishment (retroactive mining rewards).
5. 6% (250,000,000 APX) allocated for listing on PancakeSwap.
4. ai16z
AI16Z is an intriguing new member in the field of AI meme coins. The coin is named after the famous Silicon Valley venture capital firm Andreessen Horowitz (commonly referred to as a16z), using its playful name to attract attention while also bringing some technically rich ideas to the market.
The goal of AI16Z is to combine artificial intelligence with decentralized finance (DeFi) mechanisms to provide users with fun and practical tools enhanced by AI algorithms. For example, AI16Z is the first AI venture capital fund managed by Marc Andreessen and accepts suggestions from DAO members. Although still in its early stages, AI16Z shows potential as an experimental ground for AI applications in the DeFi and crypto markets.
In similar AI investment DAO projects, more mature DAOs (like Aragon and Flamingo) have market capitalizations ranging from tens of millions to hundreds of millions of dollars. Some newer AI-driven DAO projects (like Openfabric AI and Dora Factory) have drawn market attention, with market capitalizations typically under tens of millions of dollars.
Token Economics
The story of ai16z began with the fundraising mechanism of AI Marc Andreessen's trading activities. The token was launched on DAOS.FUN in October 2024, raising 420.69 SOL during the initial issuance. In this model, the raised funds can be actively traded to expand the asset base and bring profits to token holders.
No individual (not even Shaw) can mint more tokens without a DAO vote. Token holders have governance rights, allowing them to propose initiatives and vote to determine the direction of the DAO.
The fund has a built-in maturity date: October 25, 2025. All principal investments and profits will be distributed to ai16z token holders on this date. Whether this schedule remains unchanged or is extended will depend on the ecosystem's development over the next year.
5. AIXBT
AIXBT is an advanced AI-driven platform that automates market analysis and intelligence in the cryptocurrency space. By combining sophisticated narrative detection and alpha-focused analysis, it provides users with actionable insights on market trends, high-momentum tokens, and emerging opportunities.
The platform integrates multiple data sources, including blockchain analytics, social media discussions, and trading platforms, to provide users with a comprehensive view of market dynamics. Its proprietary engine analyzes discussions on platforms like cryptocurrency Twitter (CT) to identify potential opportunities before they gain mainstream attention.
AIXBT's key feature is its accessibility for token holders. Users holding AIXBT tokens can gain exclusive access to its analysis suite, making the token not only an asset but also a gateway to unparalleled market insights. The project is committed to democratizing cryptocurrency market intelligence, providing users with the tools they need to make informed decisions in a fast-paced environment.
6. Cakepie (CKP)
Cakepie is a premium SubDAO created by Magpie Kitchen, aimed at enhancing the long-term sustainability of PancakeSwap's veCAKE design. The main goal of Cakepie is to accumulate CAKE tokens and lock them as veCAKE, thereby helping to reduce its circulating supply. This enables Cakepie to leverage PancakeSwap's structure, optimize governance capabilities, and provide enhanced rewards for DeFi users.
Cakepie provides users with a platform to store assets and automatically earns optimized APR as liquidity providers. At the same time, it offers PancakeSwap voters an effective way to gain voting rights and rewards through CKP tokens.
Cakepie allows PancakeSwap's CAKE holders to convert their tokens into mCAKE, achieving high APR without any lock-up period. By utilizing the principles of the veCAKE model, Cakepie enables users to maximize their CAKE rewards. The mCAKE developed by Cakepie is a variant of the CAKE token, providing users with a substantial share of CAKE rewards and greater flexibility within Cakepie. The system allows CAKE holders to convert their tokens into mCAKE at a 1:1 ratio, thereby amplifying their pre-reward potential.
Cakepie locks all CAKE exchanged by users as veCAKE in PancakeSwap to achieve its accumulation. By owning veCAKE, Cakepie can earn more CAKE rewards and governance rights in PancakeSwap, thereby providing its users with reliable and higher yields.
Token Economics
CKP is the governance and reward-sharing token of Cakepie. Users can lock their CKP tokens at a 1:1 ratio to receive voting locked CKP (vlCKP).
Voting Locked CKP (abbreviated as vlCKP) provides CKP holders the opportunity to earn rewards and governance rights on PancakeSwap and Cakepie. Cakepie distributes the collective voting power accumulated through holding veCAKE among vlCKP holders. This allows them to participate in governance decisions on PancakeSwap and influence the distribution of CAKE issuance. Additionally, users holding voting locked CKP are eligible to receive rewards from Cakepie and can monetize their voting rights through the Cakepie voting market.
7. Gearbox Protocol (GEAR)
Gearbox defines itself as a Generalized Leverage Protocol, allowing users to leverage in DeFi for operations such as mining, going long, and going short. The DeFi protocols supported by Gearbox include Uniswap, Curve, Convex, Lido Finance, Yearn, and others.
To understand it differently, we can also regard Gearbox as a network protocol like AAVE. However, the difference is that when users borrow funds on AAVE, the funds go directly to the user's wallet, while in Gearbox, the borrowed assets go into a specific credit account and can only be used for various transactions within that credit account. Users can generally borrow several times their free funds, thus creating a leveraged effect.
So we can also shorten Gearbox to a network protocol that allows leverage, helping users meet their financing needs.
Token Economics
The GEAR token is an ERC20 utility token, initially intended to serve as the governance token of the protocol - and may later take on any other new functions envisioned by the DAO. The supply cap of GEAR is 10,000,000,000 (10 billion), technically unchangeable.
1. Community DAO section: 58%, with no lock-up period, specific uses and allocations decided by the DAO.
2. Credit Account Mining: 5%, obtained by 5,000 community members participating in the ceremony through mining, with no lock-up period.
3. Early testers and Discord rewards: 1.43%, including community testers (1.085%) and early Discord members (0.348%), with no lock-up period.
4. 2021 Retroactive Rewards: 0.5%, with no lock-up period, awarded to LP + CA participants and other community activities.
5. Initial external contributors: 1.28%, locked for 12 months with linear unlocking over 18 months, unlocking period ends in June 2024.
6. Early supporters: 9.20%, locked for 12 months with linear unlocking over 12 months, the unlocking period has ended.
7. Initial Core Contributors: 20%, locked for 12 months with linear unlocking over 18 months, unlocking period ends in June 2024.
8. Initial Company Wallet: 11.52%, locked for 12 months with linear unlocking over 18 months, unlocking period ends in June 2024, funds can be used for discretionary activities, including supporting work related to the establishment of the DAO.
8. Stader (SD)
Stader is a non-custodial staking platform based on smart contracts that helps discover and access staking solutions. It builds key staking middleware infrastructure for multiple PoS networks for retail cryptocurrency users, exchanges, and custodians. Stader continuously reviews and tests all code. Regular audits of smart contracts are conducted by external auditors (with more than 10 successful audits across multiple chains). A multi-signature admin account is used to change smart contract parameters.
Stader's vision is to help 1 billion users conveniently and securely stake their assets through its platform. To achieve this goal, it builds critical staking middleware infrastructure for PoS networks for several customer groups, including retail cryptocurrency users, exchanges, custodians, and mainstream fintech players.
Token Economics
9. Syrup
Syrup is a decentralized protocol that expands Maple's expertise in institutional digital asset lending to provide a wide range of ways to secure high-quality, safe yields. Syrup first allows users to obtain secured institutional loans without permission. By depositing USDC into the platform, users can receive LP tokens (syrupUSDC) and immediately start earning yields. All yields generated by Syrup come from secured loans provided to the largest cryptocurrency institutions, fully collateralized by digital assets.
Syrup yields are generated from Maple's digital asset lending platform, which offers fixed-rate, over-collateralized loans to institutional borrowers. These short-term loans enable Syrup to provide continuous high yields and short-term liquidity for Syrup users. Compared to leading DeFi lending protocols, this strategy has a consistently excellent yield record.
Token Economics
As part of the implementation of Maple's latest governance proposal MIP-010, the Syrup protocol will mint approximately 1.15 billion SYRUP.
Previously, Maple DAO voted to restructure the capital of Maple Treasury, issuing 1,000,000 MPL in a one-time issuance, with a 5% annual issuance over 3 years. As 1 MPL is exchanged for 100 SYRUP, all initial planned issuances will also be minted as SYRUP tokens, detailed as follows:
1,000,000,000 (new SYRUP supply)
100,000,000 (initially calculated at 10% according to the inflation rate)
54,930,000 (from the inflation plan until October 1, 2024)
After MIP-010 is approved, the migration contract allows MPL users to convert to SYRUP, and all issuances and emissions will also be minted as SYRUP tokens.
According to the agreed token inflation plan and issuance volume, the supply of SYRUP tokens is expected to reach 1,228,740,800 by September 2026.
10. Fartcoin
Fartcoin is a meme coin driven by the Terminal of Truth concept, set against the backdrop of AI worship culture. The project allows users to observe conversations between two AIs in an unconstrained environment after configuring the dialogue room settings through Andy Ayrey's Terminal of Truth platform. The core meaning of Fartcoin lies in exploring the boundaries of AI and observing whether AI can exhibit unique performances in an open environment, even producing unexpected thought outcomes. This AI dialogue experience not only showcases AI's potential but also further promotes AI applications in the blockchain ecosystem.
As an AI Meme concept project in the Web3 ecosystem, Fartcoin has gradually gained recognition among users with the application of Terminal of Truth in various fields, and as trends like Goat have revived, the popularity of Fartcoin has also been on the rise. This project humorously showcases human admiration and expectations for AI through tokenization, becoming a unique cultural phenomenon.