Memes have long served as a unifying element of the social web. The rise of Pepe the Frog as a meme has been met with much love by the crypto community and Pepe has become an icon in the crypto space. Out of the need to socialize and stay in cryptocurrency, Dogecoin emerged, one of the first generation cryptocurrencies that has survived to this day.
However, useless social cryptocurrencies have proven to be seasonal and tend to fade over time. To avoid a similar fate to their meme projects, developers now want to invest in MemeFi. let’s dive into
What is MemeFinance?
Meme Finance, also known as MemeFi, is a form of crypto investment class that combines DeFi and memecoins. Memes bring people together, while DeFi does an exemplary job of providing opportunities for people to invest and generate passive income.
Over the years, several projects have attempted to enter MemeFi, but with little success. The main obstacle was performance. In an effort to provide their investors with lucrative returns, these meme projects achieved high issuance, resulting in APRs of over 500%. This was not sustainable in the long term and most of these projects failed soon after they started.
This key problem led to the now famous DeFi narrative of Real Yields. The MemeFi projects now hitting the market focus purely on longevity and relevance, and as such have been content to offer investors lower but consistent returns.
To learn more about real returns, read our article What is real return? The 5 best logs for real returns in 2023.
The 3 Best MemeFi Projects to Watch in 2022 and Beyond
If you need passive income while having fun on the blockchain, here are the best MemeFi tokens to invest in on the Arbitrum blockchain.
1. Perp Inu
Perp Inu is a meme funding project built on top of Arbitrum. The developers dubbed it “everyone’s must-have toolkit”. It offers a new way to interact with the Arbitrum ecosystem, combining fun, utility and decentralization.
The Perp Inu community thrives on the sharing of memes related to the project. Memes bring the community together and give everyone a sense of belonging.
Additionally, Perp Inu is developing a set of tools that will allow the common trader and crypto investor to navigate the crypto world. One of the first tools to be developed is PerpiLock
PerpiLock is a Uniswap V3 professional liquidity locker that helps projects build community trust by locking, relocking and managing liquidity.
Additionally, PERPI holders who stake their tokens will receive real income from the fees generated by the Perp Inu tools.
Read the full Perp Inu white paper
2. Take advantage of Inu
Leverage Inu is another meme funding project that exists on the Arbitrum channel. It is a simple yet rewarding MemeFi project with a total supply of 1,000,000 tokens. 30% of these tokens have already been burned.
LEVI, the native token of the Leverage Inu ecosystem, can be used to access a host of project incentives. Every buy/sell on Uniswap incurs a 1% fee that goes into the project coffers. Of the fees collected, 75% is used to mine revenue on GMX, a Tier 1 decentralized exchange on Arbitrum. The remaining 25% is used for trading on decentralized perpetual exchanges such as Buffer Finance, GMX and others.
Profits from these investments are then shared among LEVI token holders in the form of ETH.
The project was initially very successful. Less than two months after its launch, it already has more than 29,000 GLP owners and has paid $1,300 to owners. This is a modest 3% APR, which should increase as GLP holdings and trades become more successful.
Read the full Leverage Inu whitepaper
3. Trump Inu
Promoted as the fairest token on Arbitrum, DTrump Inu is a financial meme project inspired by Donald J. Trump, the 45th President of the United States. The president of the United States. Trump stood firm and stood his ground in times of great uncertainty as the mainstream media tried to smear his name and send him to jail. His courage inspired some developers to create a token that is both a meme and a financial product.
DTrump Inu brings to life a new concept – the MemeEconomy – which rewards users who contribute to the DTrump ecosystem. DTrump’s goal is to create a DEX exchange in the future, from which fees earned will be refunded at a flat rate, aka Actual returnpaid to DTRUMP stakers.
Read the full white paper from Dtrump Inu
Of the projects featured in this article, LeverageInu is by far the most advanced in terms of roadmap and actual work. The others are still in the development phase and may not have started loading their products yet. Perp Inu also goes further since its PerpiLock is now a functional product.
These are just a few of the MemeFi projects with the highest Twitter engagement. No doubt there are many more to come. Be careful when investing in tokens even as the risk of developers abandoning the project is greater than for other projects. Always do your research before investing in any crypto project.
Vincent Munene is a freelance writer and blockchain enthusiast. Blockchain has changed his life in terms of financial freedom and in return he wants to educate people and update them on all things blockchain. He is a biochemist by profession and also enjoys playing the piano.