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MEME surges 100%! What's the new trick of liquidity mining? How does MEME X Badger DAO work? | MEME surges 100%! What's the new trick of liquidity mining? How does MEME X Badger DAO work?

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MEME surges 100%! What

Liquidity mining combined with NFT non-fungible tokens, the well-known platform Meme, which largely consists of digital collectibles, may no longer have high coin prices, but its marketing creativity in combining with NFTs remains memorable. Recently, it has partnered with the popular "Bitcoin liquidity mining platform" Badger DAO to bring a new twist to the game.

MEME X Badger DAO

Badger DAO is a platform focused on bringing Bitcoin into the DeFi world. Its main liquidity pools consist of pools related to Bitcoin, including various Bitcoin-backed tokens on Ethereum at a 1:1 ratio: wBTC, renBTC, sbtc, tBTC. These Bitcoin-backed tokens are designed to allow Bitcoin on the Bitcoin blockchain to interact with various digital assets on the Ethereum blockchain.

Similar to other liquidity mining activities popular among "DeFi farmers," users provide liquidity by offering LP tokens obtained from Uniswap liquidity pools on the Badger DAO platform to earn high annualized returns in the form of Badger tokens.

So, how does it collaborate with Meme?

Normally, Meme requires users to buy its MEME tokens to stake and exchange for NFTs. However, in this collaboration, instead of using NFTs, Badger DAO users can stake Badger DAO's LP tokens bBADGER/bUniBadgerWbtc in Meme's pools. LP tokens deposited in Meme's pool will generate Pineapple points to redeem NFTs. There are four types of bBADGER and two types of bUniBadgerWbtc.

Badger DAO NFT Collection Card

An interesting feature of Badger DAO is that it offers airdrop opportunities for users who have used various DeFi platforms. This strategy aims to attract existing DeFi users to join and stake their assets to earn more rewards. Similarly, they are eligible to participate in activities with Meme. Badger DAO also has its own LP token, allowing for more flexible combinations, unlike the standard Uniswap LP token staking method, as seen in this collaboration.

What Attracts Farmers?

While the ability to sell these NFT cards is a fundamental factor, the low liquidity in the NFT trading market may deter DeFi farmers who are accustomed to quick profits.

With a total of six NFT cards, the game rule stipulates that the first person to collect all six NFTs will receive one Badger DAO token BADGER from the HONEY BADGER POT, valued at 1 Bitcoin.

In addition, Meme also promotes its own product. Owners of Meme's Grail Relic NFT card can increase the Pineapple point output in the MEME X Badger DAO pool by 20%.

Currently, a user who wants to collect the four bBADGER cards will need 12 days in total, requiring 60 Pineapple points at most, with a maximum output of five per day. The two bUniBadgerWbtc cards have already been mined, as their issuance was limited to only 10 cards. This deliberate scarcity of the remaining two cards inflates their value.

As for the current prices of the "BTC Whitepaper" card, it is valued at a minimum of $16,480, while the "Satoshi" card requires $20,000. Even if a player manages to collect all six cards and receives the HONEY BADGER POT, they may still not break even. However, being the first to obtain cards from this pool can offer certain advantages.

Meme's Price Surge from Beeple or Satoshi Card Sales

The collaboration with Meme was not announced yesterday, yet it brought about over 100% surge in the past 24 hours, with Badger itself experiencing an 18% increase.

One reason for Meme's surge could be the announcement by American digital artist Mike Winkelmann BEEPLE, who sold his physical NFT artwork "UNDERSEA PINEAPPLE" for 116,500, and the collaboration with Meme is seen as a positive development.

Beeple announces collaboration with Meme in the next quarter

Meme has always introduced innovative NFT gameplay periodically. It has previously partnered with blockchain summits to release NFT tickets, collaborated with startups in fundraising campaigns, and engaged in social experiment gameplay like Rug Pull with artists. These are interesting cases of cross-industry collaborations.