Cheems Inu is a meme token in itself and a platform that combines memes with crypto using Meme Tools. Meme Tools is an informative platform on the meme tokens available on the platform to help new investors. Token developers and teams can reach out to a specific audience that loves meme tokens via Cheems Inu. Meme coins are crypto coins inspired by memes and internet jokes. These type of tokens tend to be highly volatile compared to other major cryptocurrencies.
Cheems is essentially a cryptocurrency price-tracking platform that tracks meme tokens. Cheems aims to provide the most accurate and timely data on price fluctuations of meme assets. Thus, the goal is to offer valuable services to the investment and cryptocurrency communities interested in meme coins.
As the blockchain space has grown, several meme tokens have turned into valuable assets, with trading volumes and market caps reaching billions of dollars. Further, the meme coins have evolved and diverted themselves from being just for entertainment purposes to being traded actively in the cryptocurrency space. Hence, the network offers meme coins’ discovery and price-tracking services for traders and those interested in cryptocurrency. The platform seeks to become a one-stop shop for every meme token developer and team on the blockchain.
The Meme Tools platform also involves the development of the following:
Cheems Inu is the native digital token of Cheems. Meme coin creators can use the token to pay the listing fees required to register their assets on the platform. In addition, the token also enables the meme coin creators to pay fees for advertising their digital offerings on the ad space available on the website. The token operates on the Binance Smart Chain (BSC) and aims to provide value to the internet masses. BSC was launched in 2020 to allow the development of decentralized applications (DApps) with greater capacity, lower latency, and faster pace. The chain uses a proof-of-stake authority mechanism, a modified version of the proof-of-stake mechanism, and seeks to leverage the high transaction capabilities.
The Cheems Inu token is deflationary in nature, leading to a lower supply as more Cheems are used for listing and advertising fees. In other words, deflationary tokens are those tokens whose supply is reduced over time to increase the value of the token.
Moreover, the platform’s tokens and NFTs will be integrated into a cross-chain metaverse game, similar to the game styles of Grand Theft Auto/Monopoly. Non-fungible tokens, or NFTs, are tokens used for representing the ownership of unique things such as collectibles, artworks, etc. And a metaverse is a combination of various technical elements, such as augmented videos and virtual reality, enabling users to “live” in a digital universe. The platform’s game would integrate several play-to-earn components, and in order to participate, users will require an NFT mint pass. Additionally, the NFT mint pass will enable users to own/operate a business within the metaverse and earn a passive income.
Lastly, the platform’s taxes are split evenly between market funds and liquidity pools (LP). LPs allow users to trade crypto tokens on decentralized exchanges (DEX) and other decentralized finance platforms (DeFi), not needing any centralized market makers. Also, the buy tax levied is 10%, while the selling tax is 15% for the token. The platform’s wallet limits its users to 3% of the total supply of tokens that can be held at any time.
