The first memecoin $PEPPER on the Chiliz chain is set to launch, as an experimental project to follow the recent upsurge of memecoin launches in various chains in the Web3 space.
Per the whitepaper of $PEPPER, the tokens will be airdropped to wallets that meet set criteria.
$PEPPER is a CAP20 token on the Chiliz Chain with a supply of 1,000,000 $PEPPER for every $CHZ in circulation.
According to ChilizSwap, the first Chiliz-based AMM DEX, users who possess Scoville Testnet NFTs, have a wallet on the Chiliz Chain with at least 1k CAP20 $CHZ, have an account on Socios.com or hold $SSU are eligible for the airdorps. Other options are to own CAP20 $CHZ and stake CAP20 $CHZ.
The $PEPPER team also revealed that intending investors should be aware that the token holds no significant utility, thus, they should only invest what they can lose, as the team will not be held liable for any loss accrued during the airdrop stage.
Chiliz Chain is a layer 1 designed to cater to enterprise-level sports and entertainment brands seeking to establish a Web3 ecosystem. It serves as a successor to the Chiliz Legacy Chain, offering a self-sovereign blockchain that prioritizes security and safety for elected validators.
The network operates on a distributed system with on-chain governance and is compatible with the Ethereum Virtual Machine (EVM), supporting existing Ethereum tooling while providing faster finality and reasonable transaction fees.
Although the founder of Chiliz Chain shared the project on his timeline, several reactions have greeted his action, including one X (Twitter) user who said, “For a project that had one of the best concrete uses with socios. Launching a useless memescoin that contributes to giving a negative and fraudulent image to the crypto ecosystem is really disappointing.”
Another said, “People invested money in Chiliz and project launches some shit memecoins with unlimited supply and « cool » eligibility criteria. Wow.”
While all these concerns trail the launch of the first memecoin Chiliz, it’s no news that several meme tokens have been launched from April 2023 till date that has skyrocketed to huge value in days.
A few examples are Wen, Bonk, MYRO, BOME, and dogwifhat on Solana; PEPE, and Memecoin on ETH; and COQ leading the Avalanche ecosystem.
