According to BlockBeats, on July 28, the MemeFi protocol Color successfully added liquidity to its first experimental asset, Colorpepe, which saw its market capitalization peak at $10 million.

Colorpepe was initially created through a cross-chain conversion of $1 million worth of PEPE and supports unconditional reverse principal-protected conversion. This asset is the first split asset issued by the Color protocol, based on blue-chip memecoins. Colorpepe utilizes the BC-404 hybrid contract standard introduced by Color, which combines NFTs with tokens. The aim is to foster consensus and expansion within the blue-chip memecoin community.