On May 9, 2024, Binance announced the launch of the 54th new coin mining project Notcoin (NOT). Users can then invest BNB and FUSD into the NOT mining pool on the Launchpad official website after 8:00 (East 8) on May 13, 2024, and receive $NOT token mining rewards within 3 days. Combining the recent funding of Binance Launchpool, peer benchmarking and mining cost calculation, we preliminarily estimate that the opening price range of $NOT is 0.005-0.013 USD.
1. About this Launchpool
II. Project Introduction
Notcoin is a MEME coin project based on the Ton network and Telegram platform. Users can earn in-game tokens by logging into the Notcoin interface on the Telegram software and clicking on the coin image. Users can also get rewards by inviting new users. According to the Notcoin project, there are currently more than 35 million users participating on Telegram.
3. Game Principles
1. Game Access and Start: Players can access the Notcoin game through the Telegram app. The game is based on a point-and-click interface where players need to click on coins displayed on the screen to accumulate Notcoin, the virtual currency in the game.
2. Energy Limit: Clicking is limited by an energy bar. Each click consumes energy, which is gradually restored when the player pauses. This adds an element of strategy as players need to manage their energy usage to optimize clicking.
3. Boosts and Upgrades: Players can obtain or purchase boosts through in-game actions that temporarily increase their click efficiency or restore energy quickly. This includes full energy restoration, speed-up, and multi-clicks, etc.
4. Social and promotion mechanism: Notcoin encourages players to share the game with friends through invitation links, which can increase the amount of Notcoin earned by players. In addition, participants can also get additional rewards by achieving certain achievements or joining specific groups.
5. Currency exchange and future: Although Notcoin is virtual, the project team has launched the token NOT to convert Notcoin into real cryptocurrency.
6. Simplified Crypto System Launch: A key goal of Notcoin is to simplify the crypto token issuance process, reduce the risk of manipulation by crypto whales and social media influencers, and thus fairly distribute tokens to community members.
Token Economy
NOT a community token
Explore: Users earn money when they discover web3 products
Play: Users engage in new games and gain more
Contribution: Users gain benefits by adding value to the ecosystem
Offer: web3 builders can offer their products to the community through Notcoin events
Token Allocation
Token Release
5. Binance Launchpoolâs recent market performance
1. Binance Launchpoolâs recent performance
2. Opening funds
3) On-chain borrowing costs
4) MEME coin comparison
Among the MEME projects logged in to Binance, excluding DOGE and SHIB with higher market capitalization, we can see that the average circulating market capitalization of other MEME projects is about 2 billion US dollars, and the average total market capitalization is about 2.3 billion US dollars.
5) Futures prices
On the AEVO platform, the current futures price of NOT is 0.00734u.
6) On-chain price
After the official 1000-fold reduction adjustment, the current price of wNOT on Ston.fi should be around 0.009u. After the news of logging into Binance came out, the price reached a maximum of 0.013u.
Currently, providing LP for TON/wNOT can earn 230% APY. On the first day when the news of its listing on Binance came out, the APY reached as high as 700%.
In the NFT market of getgems, you can trade NFTs to obtain NOT. The NFT will be converted into a corresponding number of NOT tokens at TGE. The current floor price of a single NFT is 14.9TON. According to the price of TON at 7u, the NFT price corresponds to about 104u, and the corresponding NOT unit price is 0.0104u.
To sum up, we believe that the reasonable opening price of NOT token is 0.005-0.013u.
6. References
Chain Tea House, Detailed Explanation of Notcoin: Is it a Meme of TON Ecosystem or a Game Platform? , https://www.chaincatcher.com/article/2123793
https://www.binance.com/zh-CN/research/projects/notcoin
