Fomo3D Revisited? Introduction to the Meme Game "CLIPS" - Compete for High Prize Money while Capturing Attention

For early participants in the cryptocurrency circle, the once popular Ponzi game "Fomo3D" in 2018 must ring a bell. Recently, with the rise of meme coins, an application called "Clips" with a mechanism partially similar to Fomo3D has caught the attention of the crypto community, leading to Ethereum gas fees exceeding 150 Gwei. How does Clips work?

Clips Senior: Introduction to Fomo3D

In simple terms, Fomo3D's mechanism is based on "buying key gambling funds." Each user can use ETH to purchase keys, and the ETH used for purchase will enter the bonus pool. When the timer on the screen reaches zero, the last person to purchase a key will receive all the ETH in the bonus pool. However, as long as someone buys a key, the countdown time will increase by 30 seconds, with a maximum of 24 hours.

In addition, early buyers can also receive a share of the keys purchased by later users. Therefore, even if they fail to win the final jackpot, the temptation of the referral mechanism and human greed have led more and more people to participate in this gambling game, accumulating a total prize pool of over 10,000 ETH.

Note: The final winner of Fomo3D congested the Ethereum network by sending a large number of high-fee transactions, preventing other players from buying keys within three minutes after purchasing a key, and ultimately winning a prize of 10,469 ETH.

Clips Introduction: Eye-catching for Prizes

The application "Clips" we are introducing today has some similarities in mechanism to Fomo3D. The gameplay is as follows:

1. Each user can mint 5 million CLIPS tokens for free, once per day, with each minting quantity being half of the previous one. The total CLIPS supply is 220 billion tokens.
2. The colored ad slogans in the image below are called "CLIPS." Initially, they can be changed to become a CLIP holder by spending 250,000 CLIPS. Each purchase of CLIP costs 1.5 times the previous amount, and the CLIPS used for purchase will be completely destroyed.
3. After a week of countdown, CLIP holders can receive a prize of 50 billion CLIPS, but every time someone buys a CLIP, the countdown will reset.

After Clips was officially launched yesterday, it quickly attracted many people to mint free tokens, causing a spike in Ethereum network fees. This morning, Gwei briefly exceeded 150, and within three hours, it accounted for 10% of the overall network gas consumption.

With so many people minting, all CLIPS were minted and sparked a wave of speculation, with over 5,000 holders. As of the deadline, the free 5 million CLIPS each person could claim were worth approximately $340.

The current CLIP holders are using the middle ad space to promote another meme coin, AIDOGE, with about 161 hours remaining until the countdown deadline. To compete with them, one would need to prepare 250 million CLIPS, approximately $17,000, to buy the CLIP.

Compared to the total prize of 50 billion CLIPS, approximately $3.4 million, the cost of buying CLIPS is much lower. Therefore, in the future, more people are likely to compete for high prizes by spending money.

However, each purchase cost is multiplied by 1.5, gradually increasing the cost. When the cost exceeds the total prize, the game may come to an end.

Nevertheless, the gameplay of CLIPS inherently carries meme qualities, coupled with the token destruction mechanism, attracting many people to join with a gambling mentality. However, trading meme coins carries high risks, so it is essential to carefully manage risks before investing.