Proposal Summary

XIP-51 proposes Memecoin Madness, adding support for fourteen new assets. Specifically, SHIB, PEPE, BONK, WIF, FLOKI, BRETT, MEW, POPCAT, MOG, MFER, MOUTAI, MOTHER, TOSHI, DEGEN.

Specification

Overview

Infinex now supports a variety of assets including Network tokens, LSTs, LRTs, yield-bearing stablecoins and many other tokens. Enabling the deposit of memecoins expands the range of supported assets on the platform, memecoins are expected to significantly increase Infinex's TVL.

The value of each asset will be denominated in USD and determined by a 3rd-party price feed, they will also be counted as TVL for the Craterun campaign.

Each day for a week two memecoins will battle for the highest TVL. Users will have 24 hours to deposit into their Infinex Account, the memecoin that wins will qualify for a 25% deposit bonus for the rest of Craterun.

• As with other boosts, users who withdraw any amount from their Infinex account during Craterun will lose all of their boosts.

Additional prizes will also be added to Infinex's Craterun Campaign, a detailed breakdown is found below.

Schedule

Rationale

Memecoins are one of the hottest narratives in crypto right now, and a variety of Infinex community members have requested support for them. Memecoins also have no utility, which means most users are simply holding them in a wallet. This means users will be more likely to deposit these assets into their Infinex Account due to lower opportunity costs.

Technical Specification

A list of the supported token, network, and token address can be found below. Infinex will add support for deposit and withdrawals for all of the listed tokens.

Copyright

Copyright and related rights waived via CC0.