Hi everyone, this is @cryptoeater to announce @gifu is entering a new era as a community takeover token under new leadership, with a new narrative, new branding, and completely new tokenomics!
What Happened?
Unfortunately, the previous team no longer had an interest in developing the token or community.
Fortunately, as an advisor responsible for the finances and deployment of the token, I held all the keys for the liquidity on BNB Chain, and all liquidity on Hive has been rescued thanks to the swift work of the community, particularly @trumpman.
With the liquidity recovered, we had two options:
- Deprecate the token and split LP with holders
- Or try to revive it
We have chosen the latter!
Summary of the Post
- New Narrative: Generate Income & Form Utility
- Tokenomics: deflationary token while earning yield from LPs
- New branding (logo/website/Twitter(X)/Telegram/Discord)
- Current situation: ~$13k in assets, ~$19k market cap and $0.00002471 token price
Key Community Members
- @cryptoeater: Leading the community takeover
- @trumpman: Community volunteer handling most Hive posts
- @epic-fail: OG supporter and main investor in the original $GIFU token
A Little About Myself
I (@cryptoeater) have been working on $GIFU as a side project since around May 2024, and assisted the original creators with the initial TGE and finances with this project. I will continue working on $GIFU as a side project into the future but as a more key member of the community. Hopefully, the fact that I have been working on $GIFU since 2024, and been on Steem/Hive since 2018 is testament to my long term commitment to anything I touch!
As the CFO of Tutorial Token (listed on Binance) and all time high of $150mil market cap, I believe I can help bring a lot of BNB Chain community members into the GIFU project, and possibly get them exploring Hive as well.
If we can have the Hive community supporting GIFU, this could be the bridge between Hive and the BNB Chain community.
New Branding: Generate Income & Form Utility
- Generate income: through using tax revenue to purchase $GIGGLE token and add it to the $GIGGLE-$BNB LP
- Form Utility: through adding more functions for $GIFU in the hive ecosystem
Tokenomics
Firstly, every transaction on BSC burns GIFU permanently as part of the smart contract.
There are two primary revenue sources for $GIFU:
- BNB Chain on-Chain Taxes: used as marketing budget and adding more to the $GIGGLE-$BNB LP
- Yield from LP: $GIGGLE and $BNB received from yield farming will either be used to buyback and burn $GIFU or reinvested, $CAKE rewards will be used to buyback and burn $GIFU
Narrative
$GIGGLE is the first and only memecoin to be officially supported by Binance and Giggle Academy (charity founded by CZ). Binance will donate 50% of all trading fees generated through the Binance exchange from both spot and futures and donate it to Giggle Academy. Giggle Academy has announced they will use 50% of the donations to burn $GIGGLE. This means 25% of revenue generated from the GIGGLE token on Binance will be used to burn $GIGGLE, making it a deflationary charity memecoin. This gives the token a huge advantage and long term viability.
Since it is a memecoin, the volatility is relatively high. This is great for liquidity pools as this means there is high yield available.
For all these reasons, this is why GIFU will be contributing to the $GIGGLE-$BNB LP and farming revenue from it long term.
On top of this, the $GIGGLE token is a HUGELY popular token on BNB Chain and BNB Chain crypto twitter, so by associating ourselves with it it's very likely we'll gain free attention from the $GIGGLE community, since we are directly supporting the $GIGGLE token. This gives us a huge opportunity to grow substantially.
Future Plans
Currently, there has been no new visual branding element updates. We will be doing the following:
- New logo (top priority)
- New Twitter (we don't hold account of old Twitter)
- New website (updated over time)
We will also be focusing on the following: * Grow our content particularly on Twitter for BNB Chain to notice us * Grow our $GIGGLE-$BNB LP to increase passive income * Diversify into other LPs
Current Situation
Since launching, we have burned over 20% of the max supply of tokens through our automated burn system on BSC and manual burns.
We have over $12k in our BSC treasury and around $1k on Hive/Hive-Engine. Our HP will be kept on Hive to support the Hive ecosystem, but Hive-Engine tokens will be unstaked and sold to buy more $GIGGLE and $BNB to add to LP to help increase the flywheel effect of the GIFU engine.
How to Trade $GIFU
Hive-Engine: check prices here for large orders, or if you want to set a limit order
TribalDEX: 95% of the time TribalDEX is better for small to medium orders
Pancakeswap for BNB Chain: highest liquidity, great for larger orders, but make sure to use 4% slippage
Let's Get Behind $GIFU!!
This is just the beginning. Follow, engage, participate, help us amplify the new era of $GIFU and accelerate our growth across BNB Chain and Hive.