Memeland will launch its meme coin blockchain Memenet in September.

The NFT project Memeland announced today that it will be building a blockchain network specifically for meme coins called Memenet, and will use its native token MEME as the fuel fee. They plan to launch the testnet in June and the mainnet in September this year.

Memenet: The Memecoin Chain

The NFT project Memeland, which has successfully launched MVP, Captainz, and Potatoz, announced today that it will be constructing a new blockchain network called Memenet.

Binance Labs announces strategic investment in Memeland.

According to the team, Memenet is expected to be a secure, low-cost, degen-friendly blockchain that will also make it easy for users to create their own memecoins. Of course, the network will use the MEME token as the native token and fuel for fee payments.

Memenet has two main features: a chain dedicated to memecoins and on-chain native revenue design.

A Blockchain Designed for Memecoins

The team stated that Memenet will have a clear positioning:

Memenet will have EVM compatibility, allowing users to quickly and easily issue and trade memecoins at a low cost, while also providing contract creators with a fee-free feature, further reducing the threshold for users to participate in the memecoin ecosystem.

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On-Chain Native Revenue Mechanism

Memenet is expected to provide native revenue for ETH and stablecoins. This revenue comes from Ethereum staking protocols and trusted RWA protocols, which automatically return revenue to Memenet users.

Similar to the design of Layer2 networks like Blast and Manta, it provides users on the network with higher asset utilization.

Recommended reading: Explaining the Revenue-Oriented L2 Network Blast: On-Chain Native Interest Rates, NFT Sustainable Contracts, etc.
Reasons for recommendation: Blast is a well-known project that early proposed the concept of native revenue for Layer2 networks. Reading this article can help better understand what "native" network revenue means, and at the same time, consider whether Memenet will encounter similar issues in the future.

Memenet Expected to Launch in September

Currently in development within the team, Memenet is expected to launch a testnet in June and officially go live in September, gradually implementing decentralized measures on the network.