MemeFi announces new token launch and partnership with SUI

MemeFi has become the first Telegram mini-app to partner with Layer 1 blockchain SUI ahead of its token launch on November 12.

MemeFi’s token is set to launch on November 12, but pre-market volume on crypto exchange OKX has reached almost $4 million. According to the project’s press release, users will be able to access MemeFi tokens directly through major exchanges. MemeFi currently plans to list its token on six major exchanges.

According to the MemeFi website, the new token will be launched on Sui (SUI), which it claims will offer a “cheap, fast and user-friendly claiming experience.”

The project has already prepared an airdrop model for its native token so that users can receive fair shares based on community participation. Approximately 85% of the total MEMEFI token supply will be allocated to Telegram users and 5% to Web3 users. However, MemeFi chose to keep some details secret to prevent token exploitation.

Through its partnership with Sui and its developer Mysten Labs, MemeFi plans to change the way Telegram apps are perceived, especially in the crypto space. With over 26 million monthly active users, MemeFi is a Telegram mini app that plays an active role in facilitating the meme money space.

The project’s collaboration with Sui and Mysten Labs is the first of its kind in the Telegram mini application. With Sui recently surpassing over 26 million active wallets in its ecosystem, MemeFi aims to expand its reach and provide more services to the community.

Meme coins are dominating the market this year; A market cap of $60.93 billion and meteoric returns that keep investors on their toes and wanting more.

MemeFi is aware of this demand in the market and therefore aims to transform itself into a meme coin ecosystem with the two Telegram products it is working on.

MemeFi’s pseudonymous founder stated that the primary goal of the project is to create a platform that will be beneficial to its growing community on Telegram.

“From ecosystem compatibility to exchange partnerships, we focused on creating the best possible environment for our users as we prepared for our listing,” the founder said.

The MemeFi team has also prepared a number of reward campaigns for loyal users, including daily activities that offer multipliers and bonuses for active participation.

MemeFi was launched in April 2024 as a blockchain-based project that combines meme culture with community-driven Telegram applications. MemeFi’s model is quite similar to Hamster Kombat and TapSwap. In this game, players dive into battles for control and resources in a world filled with different factions, each inspired by various memes.

In October 2024, crypto.news reported that the price of the MemeFi coin was expected to increase by 225%, potentially reaching $0.001617 by November 13, 2024.