Source: Binance, project official website, white paper Compiled by: Golden Finance
On December 18, 2024, Binance Alpha announced the project lists for the first and second batches, which are: KOMA, Cheems, APX, ai16z, AIXBT, CKP, GEAR, SD, SYRUP, and FARTCOIN. The first batch focuses on tokens with higher recognition and meme characteristics, while the second batch covers a variety of DeFi projects.
This article will provide an overview of its token economics and project background to help readers understand its development direction and future possibilities.
1, KOMA
KKoma Inu (KOMA) is a dog-themed meme coin aimed at becoming the 'loyal guardian of BNB', injecting new vitality into the BNB Chain ecosystem through community-driven and decentralized concepts. Currently, the price of $KOMA is $0.156997, with a circulating supply of 731 million tokens, equal to its total supply, and a maximum supply of 1 billion tokens. The circulating market cap is approximately $115 million.
KOMA has a passionate and active community, with members not only being supporters of the project but also driving the ecosystem's development. The project has received official recognition from BNB China and is a beneficiary of the DWF Labs Meme Fund, providing KOMA with funding and resource support, enhancing its influence in the BNB ecosystem. Additionally, KOMA has partnered with FlokiFi, with initial liquidity locked for a year to ensure project security and transparency. Community activities are rich and varied, 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 very intuitive, with clear allocations ensuring the project's stability and long-term development. The total supply is 1 billion tokens, distributed as follows:
Prelaunch Allocation: 28%
Marketing: 12%
Charity: 5%
Team: 5%
Liquidity Pool (LP): 10%
Burned: 21%
Milestone Burns: 19%
2, Cheems
Cheems is a Shiba Inu with a built-in sarcasm buff, known for its expressive demeanor and numerous memes. Cheems' popularity dates back to September 4, 2017, when a family member posted a photo of it, leading to its widespread recognition, along with its favorite cheeseburger (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 burned nearly half of the tokens.
Cheems initially conducted a 100% airdrop activity shortly after launching on the zkSync mainnet, causing its market cap to soar to tens of millions of dollars. However, as the hype faded, the market cap fell to under one million dollars. After migrating to the BSC chain, Cheems once again performed remarkably. It can be said that Cheems has been the best-performing meme project on the BNB ecosystem during this time.
Token Economics
Cheems claims to be the king of memes. According to the team, the existence of Cheems is to assist those who have suffered from rug pulls 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 like BNB Chain and Arbitrum. APX offers order book and on-chain perpetual contracts, providing unparalleled opportunities for traders and stakers. Trade with leverage of up to 1001 times, zero slippage, and competitive fees. Among perpetual trading platforms with most stablecoin LP pools, it maximizes liquidity provider (LP) returns with the highest yield.
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 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 onward, rewards will be halved, aligning with the potential future bull market. Additionally, APX tokens will be locked for various purposes to ensure orderly circulation. Below are the details of APX token allocation:
1, 50% (2,000,000,000 APX) allocated to users as trading rewards and liquidity provider rewards for 10 years: 1,800,000,000 APX allocated to trading reward programs and leaderboard rewards. Starting from the third year, the yield will be halved, with 15,000,000 APX released monthly; from the sixth year onwards, the yield will decrease to 9,000,000 APX per month until all trading rewards are released; 164,250,000 APX allocated to APX liquidity providers. Starting from the third year, the yield will be halved, with 2,281,250 APX released monthly until all liquidity provider rewards are released; 135,750,000 APX allocated for future product launches.
2, 26.2% (1,100,000,000 APX) allocated to the community fund: the community fund will be locked and will not initially be released to the market. It will be used for the launch of future new products (e.g., 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 participated since our early establishment and reached certain milestones (retrospective mining rewards).
5, 6% (250,000,000 APX) allocated for listing on PancakeSwap.
4, ai16z
AI16Z is an intriguing new member in the realm of AI meme coins. The coin is named after the famous Silicon Valley venture capital firm Andreessen Horowitz (commonly referred to as a16z), attracting attention with its playful name while also bringing some technologically rich ideas to the market.
AI16Z aims to combine artificial intelligence with decentralized finance (DeFi) mechanisms to provide users with tools that are both fun and practical, enhanced by AI algorithms. For example, AI16Z is the first AI venture capital fund managed by Marc Andreessen and takes suggestions from DAO members. Although still in its early stages, AI16Z shows potential as a testing ground for the application of AI in the DeFi and cryptocurrency markets.
In similar AI investment DAO projects, more mature DAOs (such as Aragon and Flamingo) have market capitalizations in the tens of millions to hundreds of millions of dollars. Some newer AI-driven DAO projects (like Openfabric AI and Dora Factory) have attracted market attention, with market capitalizations typically below tens of millions of dollars.
Token Economics
The story of ai16z began with the fundraising mechanism for AI Marc Andreessen's trading activities. The token was launched on DAOS.FUN in October 2024, raising 420.69 SOL during its initial issuance. In this model, the raised funds can actively trade to expand the asset base and bring profits to token holders.
No individual (not even Shaw) can mint more tokens without DAO voting. Token holders possess governance rights, allowing them to propose initiatives and vote, thus determining the direction of the DAO's development.
The fund has a built-in expiration date: October 25, 2025. All principal investments and profits will be distributed to ai16z token holders on this date. Whether this timeline will remain unchanged or be 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 field. By combining complex narrative detection with alpha-focused analysis, it provides users with actionable insights regarding market trends, high-momentum tokens, and emerging opportunities.
The platform integrates multiple data sources, including blockchain analysis, social media discussions, and trading platforms, providing 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.
A key feature of AIXBT is its accessibility for token holders. Users holding AIXBT tokens have exclusive access to its analytics 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 necessary to make informed decisions in a fast-paced environment.
6, Cakepie (CKP)
Cakepie is a high-level 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 allows Cakepie to leverage PancakeSwap's structure, optimizing governance capabilities and providing enhanced rewards for DeFi users.
Cakepie provides users with a platform to store assets and automatically earn optimized APR as a liquidity provider. It also 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. 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 large shares of CAKE rewards and greater flexibility within Cakepie. This system allows CAKE holders to convert their tokens into mCAKE on a 1:1 basis, amplifying their pre-reward potential.
Cakepie locks all CAKE exchanged by users as veCAKE in PancakeSwap to achieve its accumulation. By holding veCAKE, Cakepie can earn more CAKE rewards and governance rights in PancakeSwap, thus providing reliable and higher yields for its users.
Token Economics
CKP is the governance and reward-sharing token of Cakepie. Users can lock their CKP tokens on a 1:1 basis as voting-locked CKP (vlCKP).
Voting-locked CKP (shortened as vlCKP) provides CKP holders with opportunities for rewards and governance rights on PancakeSwap and Cakepie. Cakepie distributes the collective voting rights accumulated through holding veCAKE among vlCKP holders. This allows them to participate in PancakeSwap's governance decisions 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 Cakepie’s voting market.
7, Gearbox Protocol (GEAR)
Gearbox defines itself as a Generalized Leverage Protocol, allowing users to leverage their positions in DeFi for activities such as mining, going long, or shorting. The DeFi protocols supported by Gearbox include Uniswap, Curve, Convex, Lido Finance, Yearn, and more.
In another way to understand, we can also consider Gearbox as a network protocol like AAVE. However, the difference is that when users lend funds on AAVE, the funds go directly into the user's wallet, while in Gearbox, the assets borrowed by users go into a specific credit account, where various trading activities can only take place in that credit account. Users can generally borrow multiples of freely available funds, thereby creating a leveraging effect.
So we can also shorten Gearbox to a network protocol that allows leverage, helping users meet their financing needs.
Token Economics
GEAR tokens are ERC20 utility tokens, initially serving as governance tokens for the protocol - and may eventually take on any other new functions envisioned by the DAO. The supply cap for GEAR is 10,000,000,000 (10 billion), which cannot be changed technically.
1. Community DAO portion: accounting for 58%, with no lock-up period, and the specific uses and allocations determined by the DAO.
2. Credit account mining: accounting for 5%, obtained by 5,000 community members participating in the ceremony, with no lock-up period.
3. Early testers and Discord rewards: accounting for 1.43%, including community testers (1.085%) and early Discord members (0.348%), with no lock-up period.
4. 2021 retrospective rewards: accounting for 0.5%, with no lock-up period, used to reward LP + CA participants and other community activities.
5. Initial external contributors: accounting for 1.28%, linear unlocking after a 12-month lock-up period for 18 months, with the unlocking period ending in June 2024.
6. Early supporters: accounting for 9.20%, linear unlocking after a 12-month lock-up period for 12 months, with the unlocking period now ended.
7. Initial core contributors: accounting for 20%, linear unlocking after a 12-month lock-up period for 18 months, with the unlocking period ending in June 2024.
8. Initial company wallet: accounting for 11.52%, linear unlocking after a 12-month lock-up period for 18 months, with the unlocking period ending in June 2024, funds can be used for discretionary activities, including supporting relevant work prior to the establishment of the DAO.
8, Stader (SD)
Stader is a non-custodial, smart contract-based staking platform 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. Smart contracts are regularly audited by external auditors (with over 10 successful audits across multiple chains). It uses multi-signature admin accounts 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 key staking middleware infrastructure for PoS networks, available for several client groups, including retail cryptocurrency users, exchanges, custodians, and mainstream fintech players.
Token Economics
9, Syrup
Syrup is a decentralized protocol that extends Maple's expertise in institutional digital asset lending to provide a wide range of avenues for obtaining high-quality, secure yields. Syrup is the first to enable users to access secured institutional loans without permission. By depositing USDC into the platform, users can receive LP tokens (syrupUSDC) and start earning yields immediately. All earnings generated by Syrup come from secured loans provided to major cryptocurrency institutions, fully collateralized by digital assets.
Syrup earnings are generated by Maple's digital asset lending platform, which provides fixed-rate, over-collateralized loans to institutional borrowers. These short-term loans enable Syrup to offer continuous high yields and short-term liquidity to Syrup users. Compared to leading DeFi lending protocols, this strategy has a consistently excellent yield record.
Token Economics
As part of the latest governance proposal MIP-010 by Maple, the Syrup protocol will mint approximately 1.15 billion SYRUP.
Previously, the Maple DAO voting decided to restructure the capital of Maple Treasury, issuing 1,000,000 MPL in one go, and issuing 5% annually over 3 years. With 1 MPL exchanging for 100 SYRUP, all issuances in the initial plan will also be minted as SYRUP tokens, broken down as follows:
1,000,000,000 (new SYRUP supply)
100,000,000 (initially calculated at 10% inflation rate)
54,930,000 (from the inflation plan until October 1, 2024)
Upon the approval of MIP-010, the migration contract allows MPL users to convert to SYRUP, and all issuance 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 concept of the Terminal of Truth, set against the backdrop of AI worship culture. Through Andy Ayrey's Terminal of Truth platform, the project allows users to observe two AIs engage in conversation without any constraints after configuring the settings of the chat room. The core meaning of Fartcoin lies in exploring the boundaries of AI, observing whether AI can exhibit unique performances in an open environment, and even produce unexpected cognitive outcomes. This AI dialogue experience not only showcases the potential of AI but also further promotes the application of AI in the blockchain ecosystem.
As an AI meme concept project in the Web3 ecosystem, Fartcoin has gradually become known to users with the application of the Terminal of Truth in various fields, and with the revival of hotspots like Goat, the popularity of Fartcoin has also been rising. This project humorously expresses humanity's worship and expectations of AI through tokenization, becoming a unique cultural phenomenon.