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 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, and $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 are some excellent security measures 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 there; 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 favorite tool for my $MOG, $PEPE, and $JOE bags because I’ve been able to accumulate more while also getting rewarded in $IMF token daily.
Show original
35.29K
250
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.