Original - Odaily
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Previously, the Solana mobile phone brought huge returns due to the BONK airdrop. Later, the Aptos Foundation and Jambo jointly launched the Jambo Phone. The encrypted mobile phones that were forgotten in the previous cycle set off another wave in this cycle. In addition to the wealth effect of airdrops, encrypted mobile phones are also more in line with the current concept of the new encryption primitive DePIN, and integrate Web3 and Web2 life.
For now, Web3 encrypted mobile phones cannot compete with mainstream mobile phone manufacturers in terms of hardware facilities and system ecology. The reason for the big sales of Solana mobile phones is its golden shovel attribute. From the airdrop value of BONK tokens being higher than the cost of purchasing a mobile phone to the subsequent airdrops of the Solana ecological project, the after-sales value of mobile phones has become the core reason for attracting users to snap up purchases.
Solana and Aptos have launched encrypted mobile phones. Users can predict that the mobile phone system will be related to public chains and ecological projects in the future. However, it is not easy to guess when the recently popular Meme project LADYS launched the DePIN mobile phone project Meme Phone. To this end, Odaily reviewed the previous development of the LADYS project, and lets take a look at the reasons behind its release of Meme Phone. Is it to gain popularity or to act as a shovel?
It originated from the popularity, and then got the help of leading market makers.
In May 2023, Meme coin LADYS launched its own Meme coin project from the popularity of NFT project Milady. Meme coin itself has nothing to do with NFT project Milady. NFT project Milady is popular among the public because of its Meme style, and Musk has even discovered that Tweeted relevant pictures and texts. This move brought a lot of popularity to the meme coin LADYS.
At the same time, DWF Labs also purchased a large number of LADYS tokens, and even made markets for LADYS after it was successfully listed on exchanges such as the original Houbi (now HTX), Bybit and Gate.io. DWF Labs founder Andrei Grachev even issued a Not for Sale Tokens, optimistic about the LADYS community in the long term and other remarks made LADYSs popularity continue to rise, keeping pace with PEPE at that time.
But the good times did not last long, and the popularity of Meme tokens faded over time. Although there was the support of DWF Labs, a leading market maker in the industry, LADYS did not continue to be as popular as PEPE during the gloomy market period at the end of the bear market.
On March 8 this year, LADYS officially announced that LAYDS had joined the Binance Futures NEXT program and ranked second. The token price began to rise from 0.0 { 6 } 12 USDT. Then on March 12, DWF Labs Liquid Markets launched the LADYS token, bringing the LADYS token back into the public eye again. At the same time, the LADYS project team released a token pledge plan and launched the LADYS Launchpad. With the blessing of many positive things , LADYS successfully broke through to a new high, with the highest price being 0.0 {6} 39 USDT, and the highest increase being nearly 10 times.
In just a few days, the LADYS project launched a new token Milady Wif Hat (LADYF) when the Solana fundraising Meme project exploded. The donation hard cap of the new token is 88,888 SOL, and the total token issuance is 1,000 billion. Nearly 92,000 SOL were raised.
However, unlike previous fundraising projects, the token did not inject the raised funds into LP. Instead, the funds were fully returned to donors and 25% of the tokens were airdropped to qualified donors. This move was well received at the time. The community has widely praised it and believes that the project is well-structured. But then the project side’s actions left the community speechless.
Because the project party did not inject the raised funds into LP, the liquidity pool was only 1 SOL at the beginning of the transaction, the transaction depth was seriously insufficient, and the token price fluctuated greatly. According to Twitter user CryptoCat, the purchase value at the beginning of the project was 60 Multi-Dollar Token, Profit of Nearly $8 Million.
Then the new Meme coin LADYF began to plummet, falling from the highest price of 0.002 USDT to 0.0 { 4 } 61 USDT, a drop of nearly 2900%, close to returning to zero.
However, judging from the LADYF token economics released by the project,In addition to previous donors and LADYS token pledgers, the project party’s allocation also includes the airdrop share of mobile phone buyers.
On March 27, the project team announced the launch of the DePIN project Meme Phone. According to it, the first batch of Meme Phone is limited to 100 units, priced at about 2 SOL. Based on the total amount of tokens, each phone will receive 1 million LADYF airdrops.
Odaily calculated as of the time of publication of this article, the total value of the airdropped tokens for the mobile phone is approximately 68 USDT, which is far lower than the price of the mobile phone, which is 2 SOL (approximately US$374).
However, judging from the pictures shown in the post, the phone looks very similar to the iPhone 15 Pro. I wonder if it is considered an added value when viewed from a distance.
In terms of airdrop value alone, purchasing Meme Phone may be a way for large community members to continue playing with the meme attribute, but it is not a wise choice for ordinary users, and the release logic of airdrop tokens is also unknown. With the current token price of LADYF Judging from the currency price, investors are advised to proceed with caution.
