Although my principle is to play meme coins without leverage, it is undeniable that memefi is definitely a new paradigm of meme coins worth paying attention to.
The IMF's current experiments on PEPE, MOG, and Joe are relatively successful based on Morpho, and this is when the ETH market has not been launched. When the flywheel actually starts moving, the effect can be amazing.
i’ve been spending some time recently playing around with @intlmemefund
here are some of my thoughts:
- defi is a beloved sector of crypto that’s hasn’t had any huge moments this cycle due to the popularity of meme coins
- IMF has created a platform that utilizes MemeFi which i believe will be the primary way defi will be utilized in the market moving forward
- they currently have $MOG , $PEPE & $JOE listed on their platform. that means you can deposit either of those coins into IMF, borrow USDS against your meme of choice, and purchase more of your favorite coin and deposit it again to lower your LTV (meme coin looping???)
- you get rewarded in their $IMF token daily for borrowing. you also get rewarded in their token for lending USDS. APY is pretty juicy
- it’s all built on morpho so there’s some excellent security measurements in place
final thoughts;
i think MemeFi is going to be the biggest sector for DeFi this cycle
they only currently have 3 coins all on ETH listed their, the TVL of the platform will continue to grow once they add more assets and possibly even across chains
the access to credit for meme coin communities/holders is a great tool for either being able to buy more of your favorite coin or being able to have quick liquidity (never sell technology)
this has been my fav tool for my $MOG, $PEPE & $JOE bags bc i’ve been able to accumulate more while also getting rewarded in $IMF token daily
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