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Pepe Unchained raises $11 million in presale to develop Pepe Chain, an Ethereum layer 2 blockchain for memecoins.
Pepe Unchained (PEPU), a new utility-centered memecoin, has successfully raised $11 million in presale funding.
The funds will be used to develop its flagship “Pepe Chain” – an Ethereum layer 2 blockchain designed for meme coins.
PEPU presale soars as over 18,300 investors join its social media channels
The Pepe Unchained presale has seen significant interest from investors.
Raising over $11 million makes it one of the biggest ongoing presales and leaves just a $7.6 million hole to catch the total raise of Ethereum’s 2014 ICO.
Whether PEPU will pass Ethereum’s ICO metrics remains to be seen, but the project is certainly creating a significant buzz.
Its social media success illustrates this. Over 6,300 people have joined its Telegram community, and 12,000 have followed the Pepe Unchained X.
Pepe Unchained also has a nod of approval from some leading industry experts.
This analyst thinks Pepe Unchained can explode
Predicting the future is not easy, but one trader thinks it’s already nailed on for Pepe Unchained.
ClayBro predicts that Pepe Unchained will “become the top memecoin,” citing its triumphant presale as a key reason.
“Guys, the Crypto Fear and Greed Index has been sitting in fearful territory for almost three months, yet Pepe Unchained is able to raise money, they’re able to sell out, these guys are doing something right now that no other presale can,” he said.
Something else that ClayBro highlights is the lucrative staking rewards that Pepe Unchained offers.
Like most cryptocurrencies, Pepe Unchained’s staking rewards are based on a variable APY.
The more tokens that are staked, the lower the rewards become for each individual staker.
However, ClayBro notes that Pepe Unchained’s staking rewards are “extremely high,” considering it has already raised so much money.
With $11 million raised, it’s clear that many investors are already in and staking PEPU tokens.
Typically, this would leave just a small APY for newer investors, but that’s not the case.
The APY stands at 182%, and this is all thanks to the considerable staking token allocation.
While 20% of Pepe Unchained tokens are allocated to the presale, 30% are earmarked for staking.
This means for every token investors buy at presale, an extra 1.5 are up for grabs via staking rewards.
Pepe Unchained lets users leapfrog Ethereum’s transaction fees and slow speeds
New data suggests that Ethereum gas fees are at an all-time low, but this is only thanks to layer 2 blockchains.
Users no longer need to use the Ethereum main network to transact. They can trade, interact with dApps, send and receive funds, all from secondary blockchains connected to Ethereum, known as layer 2s.
Layer 2s, like Pepe Unchained, offer users more competitive fees and increased speeds compared to Ethereum.
Now, some layer 2s (including Pepe Unchained) are becoming specialized in specific crypto sub-sectors.
Pepe Unchained’s focus is memecoins. Others are built around DeFi, gaming, privacy, NFTs, etc.
It’s no secret that memecoins have been one of the top trending asset classes this year.
Almost every day, it seems a memecoin leads CoinMarketCap’s top gainer list. Today, it’s Dogs with a 23% pump.
But until now, the memecoin sector has not had a place to call home.
Memecoin traders have remained on the fringes of blockchain communities, sometimes viewed as a burden by more “serious” market participants due to their significant usage of blockchain power.
However, Pepe Unchained is a new hub for memecoin enthusiasts, where memetic activity is encouraged.
And with low fees and high speeds, it could be the next chapter of the memecoin saga.
Pepe Unchained is currently available to buy at $0.0093477, but this is expected to rise throughout the presale.
For more information, visit the Pepe Unchained presale website.
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