Launched as BEP20 on BNB Chain, PEPE is a new meme coin with a number of unique mechanisms programmed into its tokenomic structure. Like the original PEPE token, which was a huge success in 2023, BEP20 PEPE is inspired by the naughty frog of the same name, which takes its design from the webcomic “Boy’s Club”.
The market cap of its original token, which launched on Ethereum in April, surpassed $1 billion on May 5, sparking a new wave of meme coins, including a number of frog-themed efforts. Unlike subsequent meme coins, PEPE (BEP20) has several unusual features programmed into it, including a syndication system designed to promote price stability.
The team behind the BNB Chain meme coin isn't content with just one meme coin either: They plan to launch multiple PEPE projects, all based on the cute frog. 13 such launches are planned for 2023 alone.
Although each meme project will operate independently, a “Burn & Drop” system will govern the consortium. Burn & Drop is a first-of-its-kind system that allows burning one token to release another into the air.
Two types of tokens are required to launch a Burn & Drop. For example, there may be a scenario where the price of Token A is $1 and the price of the meme coin (BEP20) is $1. However, if the price of Token A drops to $0.8, Token A holders will have the option to burn their Tokens on the Burn & Drop platform and will automatically receive PEPE (BEP20) via an airdrop, reducing its total supply as Token A is burned.
By initiating Burn and Drop between tokens, excess volatility can be reduced while possibly providing trading opportunities for arbitrage and intra-token trading. This logic is a core component of the altcoin (BEP20) and is one that users can interact with directly within the platform.
In addition, it plans to offer many services that will further expand the usage area of the BEP20 token. To further increase interest in the project, BEP20 is currently running a public airdrop campaign on Twitter.
Details about PEPEBEP20
PEPE is a project launched on Binance Smart Chain and takes the form of BEP20 token. Pepe Syndicate and the token's unique "Burn&Drop" mechanism are designed to manage the token's price volatility. This is not a guarantee of price stability, but a mechanism to potentially reduce price fluctuations. Additionally, various projects participating in the “Burn&Drop” system cooperate with each other, promoting a robust Syndicate network of meme coins.
