If the cryptocurrency world is already famous for its crazy fluctuations, recently another world has emerged with a much greater degree of madness: memecoins – digital currencies that originated only is a joke created by internet users and then inflated to create ridiculously high growth momentum. In the wild and shady world of memecoins, some people are starting to create their own digital coins to satisfy the unlimited demand of the masses just looking for something to speculate on.
Earlier this week, a person nicknamed Tulpamancer Chaser created a digital currency called Stalwart Network and listed it on PancakeSwap (a cryptocurrency trading platform based on Binance’s smart chain). All stages are done and completed within 45 minutes.
The 45-minute number is startling, but there have been cases where it is “excellent” than that. Two people nicknamed AutomataEmily and Deli Gong (currently in Singapore) contacted Bloomberg via Zoom and showed him the entire process of creating a digital currency called WART. WART was created and listed on PancakeSwap in less than 10 minutes.
The reason the process is so fast and easy is thanks to the available software and templates. For example, just enter the coin name and volume.
In a few minutes, Emily and Deli will create smart contracts with a certain amount of BNB because PancakeSwap operates on Binance Smart Chain.
There are a few more steps, however the whole process from choosing a few parameters (coin name, circulating volume, “big farming” to creating liquidity on PancakeSwap and making the coin at least tradable is in theory) to completion takes only a few minutes. And if there’s a network of social media influencers, you’ll want to use their names to inflate the value of your newly created coin.
Emily and Deli are also working on developing many infrastructure projects on the Ethereum ecosystem. One of their projects is Automota Network, which aims to increase the security of cryptocurrency transactions.