Chungus Coin BSC is a financial services startup that has been gaining a lot of attention recently. They aim to help people entering into this new “Wild West” financial frontier of cryptocurrency by providing investors with the “picks and shovels” for this new gold rush. The investors, being independent minded and tapping into various trading strategies, will do their own digging for their share of the digital gold.
By Marcus Henry
July 19th 2021
It is through the countless sacrifices of blood, sweat and tears of our ancestors that led to their journey of survival, and the privilege to pass their genes down to the next generation to continue along that path. But all of this, just so that unbathed middle-aged men everywhere are able to sit among us today vaping gamer girl bathwater from their mom’s Mountain Dew can-laden basements on $2000 gaming chairs; Flamin’ Hot Cheetos-stained fingers meticulously typing up dating posts in search of an ideal mate who will live up to their selfishly unrealistic expectations without any actual ask of them in return? This persona clearly does not define the model for “survival of the fittest” that Darwin describes in his evolutionary theory, but does make for an excellent internet meme; The Neckbeard. Just like natural selection takes its course over time on genetic transmission, a similar course is playing out for humanity on the social information front.
The term “meme” was coined in 1976 by Richard Dawkins in his book The Selfish Gene, as being a “unit of human cultural transmission[1]” which is “hosted” in the minds of one or more individuals, and which can reproduce itself in the sense of jumping from the mind of one person to the mind of another. The internet meme, originating in the mid 1990s with the growing availability and popularity of the internet, has proven this transmission to be quite viral in nature, as they spread rapidly across all social verticals in near real-time. While generally humorous by design and topical in nature, a meme culture has formed on the internet and evolved within society over the decades. It has been within the past few years, however, that memes have started testing social boundaries like never before, successfully crossing over into an area that people from a decade ago could never dream of; the financial sector.
DOGE was the first meme to become a cryptocurrency. Started as a joke within the crypto industry by Jackson Palmer and Billy Markus in 2013, the coin quickly became a viral sensation among the same fringe cryptocurrency and meme forums on social media. Little did Palmer and Markus know that their meme coin, which was worth just $0.00000001 per coin with a $1.5 million market cap at launch on December 15th, 2013, would go on to be worth $.68 per coin at its peak in 2021, with a market cap of $88.6 billion less than 8 years later. With the likes of the highly influential Elon Musk publicly and emphatically promoting this coin starting in late 2020, it quickly triggered public interest and became a household name, proving to the world that a meme token can be a meaningful financial instrument. This big success for DOGE in 2021 has inspired a new meme token to take things even bigger by bringing some serious value to the meme economy, and claim the throne as “Big Chungus.”
Chungus Coin BSC is a financial services startup that has been gaining a lot of attention recently. They aim to help people entering into this new “Wild West” financial frontier of cryptocurrency by providing investors with the “picks and shovels” for this new gold rush. The investors, being independent minded and tapping into various trading strategies, will do their own digging for their share of the digital gold.
The Coin
Chungus Coin’s native token, Big Chungus Coin ($BCC), is built on the Binance Smart Chain. The coin is based on the popular Big Chungus meme. It is designed to function as a store of value and medium of exchange that aims to help investors grow their holdings. While Big Chungus Coin might have people smiling, their business plan and execution should not be taken lightly.
Looking at Big Chungus Coin as a standalone token, it is worth mentioning their tokenomics model. $BCC launched with an initial supply of 1 trillion tokens, and features automatic liquidity and staking rewards. For every transaction made with the token, 3% of fees are reflected back to holders, and 7% is added to the liquidity pool. On launch, 66.6% (2/3, or 666.6 billion) of total supply was burned. The burn address wallet receives its proportion of reflected rewards on every transaction, thus creating a deflationary token. The automatic liquidity generation creates a stable price floor. The burning process creates an appealing price action for investors: the deflationary design reduces the overall token supply over time. Token ownership also gives holders a direct stake in the profits from Chungus Finance; Chungus Coin BSC’s decentralized application (dApp). They recently passed their EtherAuthority audit with the highest possible rating of “Well Secured.”
The App
Big Chungus Coin was designed to work synergistically with Chungus Finance; one of Chungus Coin BSC’s two core products. Chungus Finance brings some unique features to the dApp space. It combines premium charting, wallet analytics, and other advanced tools for the savvy crypto trader. To incentivize holding of $BCC, different tiers of these advanced tools will be unlocked within the app for those holding coins at different thresholds.
At the moment, Chungus Finance already offers novel features that no other competitor in the crypto space has. Their “Ape Tool” for token watching and notifications, wallet tracking features, and charts linked with the dApp enabled investors to trade quickly and intelligently. Their contract analysis tools, designed to bring greater transparency to the crypto space, employ similar methodologies as professional contract auditors. Over the next few months of their roadmap, they will be adding several other custom tools within Chungus Finance. Users can expect to see new features like performance tracking, contract analysis, and a token screening/buy indicator. Further, they aim to continuously roll out new tools and update their existing ones to continually serve the crypto-community’s ever-evolving needs through the coming years, including offering services for other blockchains.
In the near future, Chungus Coin BSC will be hosting ads on Chungus Finance. The profit from those ads will be distributed back to the project fund without any compensation going to the dev team. Ad revenue will be divided into marketing expenses, bonuses to liquidity providers, and to holders of $BCC (relative to their holding size). Payments to $BCC holders will actually be paid out in BNB; an industry first that will further benefit investors. In essence, Chungus Coin BSC makes holding $BCC tokens the same as holding equity in a corporation and getting paid a share of the profits in dividends.
The NFTs
The second of Chungus Coin BSC’s core products is their machine learning generated NFT venture, something they believe will disrupt the NFT space. Their dev team is harnessing the latest in AI/ML (Artificial Intelligence, Machine Learning) technology to produce NFTs that aim to be superior to those of any competitors in this space. Their community will also be able to help the dev team to govern the way that their Machine Learning algorithm functions. This will encourage greater community engagement and that injects the final products with a diverse and unique spectrum of humorous original content.
The Team
Chungus Coin BSC ultimately aims to create a fun space for their investors and community via rewarding tokenomics and support. Their development team is made up of full stack developers, machine learning experts, graphic designers, marketing professionals, and project management professionals. While there are 10s of thousands of crypto projects with big ambitions to “moon,” Chungus Coin BSC believes their highly grounded business plan, a highly-capable team, and a culture of determination to accomplish these plans is what will keep their heads in the clouds and get their boots on the moon.
To find out more about Chungus Coin BSC and to purchase Big Chungus Coin ($BCC), check out ChungusCoinBSC.io. While you’re there, be sure to give their whitepaper and EtherAuthority audit a read. $BCC is currently traded on PancakeSwap. Their Chungus Finance app is located at Chungus.app. Their code can be found on GitHub chunguscoinbsc. Check them out on Twitter @ChunugusCoinBSC, Telegram Chunguscoin, Reddit r/chunguscoinbsc, and Medium @chunugusfinance.
1- Dawkins, Richard (1976) The Selfish Gene
Disclaimer: The information above does not constitute investment, financial, trading or any other sort of advice and you should not treat any of my content as such. I do not recommend the purchase, sale, or holding of any cryptocurrency or other product and nothing I write about should be deemed as an offer to purchase, sell, or hold a cryptocurrency or other product or service. Please do your own research and consult a certified financial professional before making any investment decision.