Prop 8: Change of the Inflation Rate and first application MEME Art mainnet has launched!
Change of the Inflation Rate and first application MEME Art mainnet has launched!
This proposal aims to change the inflation rate of MEME from 68% to between 6% to 24% and to target a 67% Goal Bonded.
Summary
According to our roadmap, the first application has been launched on the main website. To mitigate the current inflation rate and maintaining the health of the entire ecosystem. We have added an external incentive to Osmosis, namely a bonus pool incentive. The current LP incentive has reached 170% APR to balance the health of the entire MEME Network ecosystem, build solid tokenomics for the first application to reward all creators.
MEME 701 LP: https://frontier.osmosis.zone/pool/701
Our first application, MEME Art, is now available on the mainnet: http://memeart.io
MEME Art - The world's first highly creative and instantly rewarding app for creators
MEME Art is the world's first NFT (non-fungible token) platform that allows users to create and publish memes without any coding knowledge. All memes created on the platform are minted as NFTs and stored permanently in the MEME Network blockchain, providing creators with true ownership and monetization opportunities for their works.
The tokenomics of MEME Art is designed to reward both original and derivative work creators. The creation fee of a MEME in MEME Art is 2000 $MEME. 40% of the creation fee is distributed to the creators, with 30% going to the Parent Reward and 10% going to the Origin Reward. The remaining 60% goes to the MEME Art Fund, which is used for various purposes such as supporting the library contributors, top liked and viewed memes of the month, events, and projects proposed by the Meme Art DAO.
The Heritage System works as a royalty structure, where a parent meme can be transformed into a child meme by twisting the text layer. This system incentivizes both original and derivative work creators, ensuring that they are rewarded for their contributions to the MEME Art community.
Please note that creation fee is subject to change and may be adjusted as the project progresses.
Information about technical articles can be found at https://github.com/memecosmos/Meme-Art/blob/main/README.md