supporting memecoins on arb will have a flow on benefit to all projects building here.
this will contribute greatly to Arbitrumâs ecosystem, look at what the solana system has done, they have attracted attention and a huge amount of cash flow since $BONK became famous. And what does our Arbitrum system have? In my personal opinion, the current meme leader on Arbitrum is definitely $AIDOGE, it has been a huge hit since its release, the entire LP has been burned! and the LP is huge, up to $4M currently. And I believe that in the future it will be a true memecoin leader on the Arbitrum chain!
This is cringe and lame.
âOur memes sucks and fail to attract exit liquidity, please the foundation inject money (for the culture)â
I loled though, appreciate the grift and asking high paid salaries for ppl to generate memes
i think we need aidoge
Hey builders!
Our recent article covers the proposed memecoin fund and its potential impact.
If youâd like to contribute an opinion or quote to the article, please PM us, and weâll update it accordingly.
Support arbdoge I think itâs OK
Hello, as a fancoin on the Arbitrum network, we are pleased to support this initiative.
BobrCRV is an initiative from the CURVE community members and represents the first memcoin originating within the ecosystem. The projectâs purpose is to heighten awareness of DeFi and its associated projects by promoting the creation of informative and captivating content. Consequently, it strives to intensify media coverage and kindle consumer interest.
Initial major trading commenced on the Arbitrum network in January this year. Currently, there is liquidity across three networks: Arbitrum, Ethereum, and Fraxtal.
Proposal queries:
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Will liquidity be considered across all networks, or solely on Arbitrum?
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Is there flexibility considering other team and community merits regarding the token, when evaluating acceptance criteria if it falls short in certain parameters? For instance, active participation in incentives through ve-tokenomics projects, support from notable DeFi founders and communities, educational initiatives, and engagement in various protocol operations through gamification.
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Will there be a commission available in real-time to communicate with applicants, potentially through Telegram or Discord chat?
Well, not everyone can pull in the votes by reaching out to Foundation delegates and get their grants approved from the Arbitrum Foundation for obvious failing scams like Good Entry.
Maybe fix your low-liquidity, garbage options protocol first before casting stones on dumb degens begging the Foundation to pump their scams.
Protected perps, my ass - Good luck shilling that zero utility token to anyone who is actually willing to take a bite out of your terrible platform that has zero roadmap and a team that doesnât know how to seed the protocol liquidity on time and gets front-run on its own launch, or a fair launch pre-sale sniped by 150 wallets.
A place where the top 5 wallets account for most of the notional volume on the platform.
Maybe the foundation & itâs delegates certainly need to do a better job at oversight of where their grants are actually going before some idiots go on a another fishing trip for grants in another chains (cough cough Monad cough cough)
As far as the ordinary individual is concerned, thereâs virtually no difference in the kind of scams/slow rugs devs run here vs an ordinary degen asking Foundations to pump their bags by aping into memecoins. Both are virtually the same.
Definitely Lolâd at the fact that despite having different tactics, both groups are cut from the same cloth, one has the audacity to claim moral high ground here.
0 for both of you, bucko.
1 Like
AIDOGE?Letâs wait and see.
Real initiative should be rebranding Arbitrum, worst name and branding in the space, will be the single most imposing obstacle to getting new users especially retail users. I am curious to see what a meme coin fund like this could do, but jesus does Arbitrum need a name change.
Maybe offer a better solution then? The fund doesnât have to inject money into memecoins, it can be altered to only offer services like designers/marketing help etc. Something to help spur the culture.
Not sure why you are so mad about this. Iâm literally just trying to help onboard new users and attention to Arbitrum. This will only help your $1.2k vol/day token.
I donât support this proposal because I donât see the benefit of attracting users who will only buy these memcoins. These users are of no use to Arbitrum.
In addition, you can launch this memcoin without the participation of Arbitrum
3 Likes
I support this proposal. Onboarding users to web3 is really hard. A normie can easily buy BTC, ETH, ARB on any exchange. But they need to learn web3 to buy new memecoins. Memes are culture whether we like it or not. Creating a vetted fund will help users not get scammed. I see this as a win-win.
Helping support the curation of memes from the chain makes sense and helps to avoid situations like Solana. However with Arbitrumâs current memecoin landscape (which is basically just $smol which doesnât fit this proposal and was created from the grounds of fraud and deception by Treasure { provable on chain }) we would need an influx of grass root memecoins to suggest there is appetite for this.
Giving funds for buyback 0 value shitcoins in favor of insiders sounds stupid. Better build something longterm. Pay for security audits for the new defi projects, marketing for them on crypto portals and so on.
This is most def an interesting proposal and personally love memecoins! As a true contrarian I think memecoins are a great onboarding tool and can help Arbitrum significantly! Would also like to help out fill any gaps of this proposal. Imo I think this should be a âDecentralized Memecoin fundâ
This works in theory, but in reality you canât stop anyone from creating a new wallet and buying
I want a strong meme economy as part of Arbitrumâs robust defi ecosystem (and hopefully gaming soon 
).
But I share the same concerns as you.
Memes come as a result of a strong degenerate community. You canât force memes, and I think itâs better to let memes come naturally vs trying to stand up funding for an ecosystem that doesnât really have a playbook for success outside of vibes.
The saying go hard or go home springs to mind
Arb isnt a âmemeâ chain currently and 3m is pocket change in terms of building that narrative
Itâs not a bad idea at all and I like the way the proposal is delivered but to have any kind of impact, really that spend should be 10xâd at least.
Also consider the cost of marketing as Arbitrum needs to be seen to be strong if taking on Memes so would need an ample pot to bring onboard real promotion or it will fall by the wayside
The team at FranklinDAO/Penn Blockchain are generally opposed to Arbitrum allocating capital for the memecoin fund. We believe there are other better ways to further attract retail capital to Arbitrum than directly making investments in these volatile tokens. Further, given the current restrictions that the fund must hold the tokens for 3 months, this presents huge risks of taking losses investments. We believe delegates and Arbitrum stakeholders should focus on more robust systems to attract retail capital and activity.
4 Likes
This proposal was born from a public discussion on Twitter on the state of arbitrum and how memes are perceived (are? are not?) as an important growth driver factor in an ecosystem.
For one, @0xkawz decided not only to discuss the matter on twitter but also to put it in the forum. This gesture, regardless the merit of the topic, is highly appreciated and should be rewarded with a broader discussion.
Iâll try to give a detailed feedback on the proposal, and how it could be tweaked. And then, my personal opinion on the value of it.
this is something that i potentially see a problematic. It has indeed risk of insider trading. Not sure how to solve for this because is just to easy to spin up a new anon wallet
This has to be indeed detected on the chain. In general we want to also have a process of which, if one of these 8 participants is perceived to game the program, or not be aligned, the other 7 can cast an exclusion vote (4 out of 7). At the same time, the DAO can also cast a vote to exclude one of the member as well.
Not well versed in all technicalities. Would just say anti sniping features especially because this can be fixed in the distribution of ownership.
What does this mean specifically? We need a criteria here to understand what is a go/nogo
âadequatelyâ â needs definition as well.
Think this needs a technical reworking, due to potential unavailability of twap (remember all of this is executed through a safe, and trading through a safe is a REAL pain), but above all the front running. Do we have any details on how this is executed by Avax?
I see this as a possible viable path to further support a coin. I see the council deciding it could be worth to add this liquidity, but some sort of high level decision criterias to decide if this has to be executed would be needed. Again, at high level, especially because it also involves selling also some funds to buy eth.
There is also a merit on talking where the liquidity should go, my wild guess is in the biggest pool of that very coin, to avoid any COI regarding favouring this or that exchange.
Not sure about this. Unwinding, ok. Basically dumping, but option B does it just mean to buy again? I can see that happening as well. Again we would need at least the high level idea on when we want to keep buying and when we donât want to. I would also add an option C that is just keeping the position in the balance sheet.
We need to size this in arb. I see a relative low cost amount, in here is basically around $300k for management, this is around 10% of the managed capital, seems a reasonable amount.
- 5 board members at $1.5k/m for 6 months = $45k
- 3 collaborators at $5k/m for 6 months = $90k
- 10 graphic designers at $3k/m for 6 months = $180k
Total $351k just to double check.
Feels like 10 graphic designers might just be an overshoot, and I am not sure about that part of the compensation, especially because that role is not properly defined. While, tho, the overall idea is that when a coin is selected by the fund, it would then have the support from a marketing standpoint with the work of that graph designer. But how are these graphics, memes, video, delivered to the community? Through the official account of the coin in question?
Likely the arbitrum official account, while available to highlight specific things of this proposal, wonât likely be used for a constant active support. So how are the deliverables produced here leveraged?
Also, does it make more sense to have instead of 10 graphics, just 5 with an higher comp? Maybe not because with 10 we can ensure a broad availability of styles?
Now, all of this was about the formality of the proposal. Letâs talk about the merit.
I am not sure if this will work, and if it will work in general. I definitely see the problem we have in arbitrum: a âboringâ chain, a âprofessionalâ chain, defi oriented. And this identity has indeed expressed through the lack of meme, I agree with this.
I am not sure if we can effectively change this through a fund. Basically the hope here is: if the fund is up, people will flock to arbi to create meme with the hope their coin will be picked up by the fund and so among the hundreds created one is gonna be THE meme of arbitrum. To me, this is a bit of a shoot in the dark to be honest. There could be a merit in pushing in arbitrum for marketing and comnmunity strategies and investments that could indirectly spark the same type of interest. My personal view of course and I might be wrong. But I tend to lean toward the ones who said that a good meme should happen organically, and forcing it might not work. We have already been seeing the shill festival this proposal has become in the span of a couple of days, and i will be honest, this is really bad for optics. Yes, you want to show support for your community or certain communities, but this is not the way.
So @0xkawz let me know what you think about the above, and in general i would like to push anybody who wants to constructively contribute to this to post. Even if you think the initiative is not good or it wonât pass, starting to at least acknowledging this part of the community, the fact that arbitrum so far has not been great at meme compared to other chains, is potentially already a +ve thing in my book.
1 Like