How Meme Cake is Redefining the Utility of NFT's

Daniel James
Daniel James
How Meme Cake is Redefining the Utility of NFT's
Table of Contents
Table of Contents

Meme Cake is the world's first decentralized comedy platform for creators and artists to share their memes, comedy videos, or GIFs and register their Proof of ownership.

Meme Cake staking is one of the first stakeable NFT's in the Dfinity chain.

Many NFT projects talk about the utility, but Meme Cake has a running platform to take pre-orders of their NFT's twice. The stakeable NFT's make it easier for project backers to get vetted projects early access, thus acquiring NFT's and tokens at an early discounted price.

Meme Cake Reward Program

Meme Cake uses POI (Proof of Importance) consensus mechanism for the reward program. Each Meme Cake account is assigned an importance score that proxies its aggregate importance to the Meme Cake economy. Accounts with higher importance scores have higher probabilities of getting reward tokens (MCK).

The blockchain allows all transactions to be transparently viewed. This information about value transfers between accounts can be used to determine a rating for the importance of accounts.

Eligibility for Entering the Importance Calculation

To be eligible for entering the importance calculation, an account must have at least four vested Dick NFT. All accounts owning more than three vested NFT have a non-zero importance score. With a supply of 7,777 NFT, the theoretical maximum number of accounts with non-zero importance is 1,944.

In practice, the number of existing accounts with non-zero importance is not expected to approach the theoretical max due to inequalities in held NFT and the temporal costs associated with vesting. If these NFTs become very popular, a threshold of 4 vested NFT could be undesirable.

If necessary, this number could be updated in the future via a hard fork, which is the same procedure for adjusting transaction fees and other parameters related to staking.

Meme Cake SOLANA NFT Airdrop

Since Meme Cake is a multi-chain social NFT marketplace, they support DFINITY and SOLANA blockchain. If you are a DICK NFT holder, you will receive a Balls NFT on the SOLANA blockchain.

The Meme Cake platform will support the Phantom wallet like the Stoic and Plug wallet. So if you buy 10 Meme Cakes on DFINITY, you will receive high-quality Balls NFTs on SOLANA blockchain free of cost. The NFT designs are highly detailed by Crimzon studios, a gaming company behind famous games like Rising Hell.

Meme Cake Token Airdrop

MCK is the native digital cryptographically-secured utility token of the Meme cake. As the native platform currency, MCK will play the role of the settlement medium, Platform Incentivization, Community rewards, governance, and Platform utility token within the entire meme cake ecosystem.

Every DICK NFT holder will receive tokens worth $70 - $100 at the current valuation of Meme Cake. All airdrops are run via the Meme Cake platform, making it easy for the backers to track and acquire tokens.

*Note: This article has been published at the request of Cakemaker of Meme Cake.

  • Disclaimer: The views and opinions expressed on this website are solely those of the original author and other contributors. These views and opinions do not necessarily represent those of the Dfinity Community staff and/or any/all contributors to this site.

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