Debunking the “Meme Token” Rhetoric: Can These Digital Assets Have Utility?

Meme tokens have undoubtedly been the rising star in the cryptocurrency industry throughout 2021, with Dogecoin (DOGE) and Shiba Inu (SHIB) leading the charge. However, a majority of these tokens have no real use cases at the time of launch, which leaves the project’s developers scrambling to find a purpose for their token. Ginga Finance $GIN, is a meme project that aims to change this rhetoric by offering token holders utility, passive income and value-added features. 

Ginga Finance has developed a new and exciting ecosystem in the Binance Smart Chain network. It includes The Fastest Dog mini-game challenge, The Mixer and $BUSD reflections.  

Enhancing blockchain privacy through mixers

Despite the wide acceptance of blockchain transactions as anonymous, not all give full anonymity, especially if you are using decentralized wallet naming services. Prying eyes from the government and hackers could easily dissect your transactions and reveal your information. The Mixer that Ginga has developed aims to improve the privacy and anonymity of transactions by breaking the link between the source and receiver of transactions. 

According to the official website, Ginga Mixer is already operational on the Binance Smart Chain BSC network with $BNB. Every mixing transaction is randomly charged 1%-1.5% to enhance anonymity after the mixing process is complete. Half of the fees collected are then used to buy back and burn $GIN tokens while the other half will be used for system upgrades and maintenance. Unlike other mixers, Ginga Mixer does not store any logs of transactions. 

The user-friendly nature of Ginga Mixer also sets it apart from the competition. In a few steps, you can completely mask your $BNB transfers on Ginga Mixer. First, you need to provide an address that will receive the mixed $BNB. The destination address cannot be from an exchange, or directly interacting with smart contracts. Set a time delay between 5 minutes and 1 day (the longer the delay period, the more privacy you are likely to get).  Input the User Secret code and Discount code if you have them available.  A User Secret code is for returning users to avoid getting back the tokens that they may have previously sent to our Mixer for mixing.  Click “Mix my BNB” and wait for confirmation. Write down (copy & paste) the wallet address you need to send your $BNB to and your guarantee code. Log in to your personal crypto wallet you are sending the $BNB from. Enter the wallet address you were given in Step (e). Enter the amount of $BNB you want to mix. Input the amount of $BNB you want to mix. The minimum amount of $BNB to mix is at least 0.1.  Approve the transaction and click send. When we receive your tokens, the magic of mixing begins. Your mixed tokens will be sent to the destination address once the delay period elapses. 

Users on Ginga Mixer have access to the technical team 24/7, who are on hand to help them in case of any problems while mixing their tokens. 

A host of features on Ginga Finance

Apart from its mixing service, Ginga Finance offers a variety of features that aim to boost crypto adoption and user interaction on its platform. Users will soon be able to stake their $GIN tokens to earn $BUSD rewards. The smart contract distributes 6% of every buy/sell transaction in $BUSD automatically every hour and to holders with more than 250,000 $GIN tokens. Additionally, the platform ensures the security of users’ funds with a fully audited smart contract by Solid Group, an established blockchain and crypto audit service, with the initial token liquidity locked for two years.

Ginga Finance also launched The Fastest Dog challenge, which awards users who are quick every hour. Every hour a button will appear on the screen that says, “Run”. The first person on the Ginga Finance network to press the button has the chance to earn 1% – 100% of the hourly BUSD rewards earned within the smart contract. The challenge is open to holders with at least 140,000 tokens.

Finally, the platform is planning the launch of top limited edition NFT collections, RPG gaming platforms, and is already listed in Hotbit CEX with plans for more in the coming year.

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