At this stage, the growth point of the crypto market mainly comes from the meme market. For example, in August this year, Tron stood out amid market fluctuations, benefiting from seizing the Meme craze (launches like SunPump), which triggered a surge in on-chain activities, significantly increasing user participation and achieving a dual growth in token price and market capitalization. TRON's price rose by 23.1%, and its market cap increased by 22.7%.
On the other hand, some leading CEX platforms are seeking new growth points in the meme market amid the overall market downturn and lack of narrative. For instance, Binance recently launched the MEME coin $CATI on its Launchpool and introduced several MEME coins like NEIRO, TURBO, and BabyDogeCoin. Mainstream CEXs like OK, Bybit, and Gate have also frequently launched MEME coins recently, indicating that investing in memes is currently the best choice and the best timing.
In fact, when choosing meme coins, we should focus on those with lower market capitalization, high growth potential, not yet listed on major exchanges, and have a strong community base. These types of meme tokens are often on the brink of explosion, promising to become wealth amplifiers that can bring us returns of hundreds or thousands of times.
PUFF is one of the typical representatives with the above characteristics. Currently, it has a low market cap (around 30 million USD), its mainnet has just launched and is in the process of full-chain expansion and circulation, and it has not yet been listed on some major exchanges, being community-driven and praised as the "darling" of the Mantle ecosystem, gathering strong community consensus. Therefore, PUFF, which is still in its early stages and on the brink of explosion, is truly worthy of high attention.
The launch of PUFF's mainnet is just the prelude to its "barbaric growth."
As a leading meme project in the Mantle ecosystem, PUFF has a large community user base and consensus support. However, PUFF's ambition goes beyond the Mantle ecosystem; it aims to become a leading meme ecosystem that can compete with all top meme projects in the crypto market.
To achieve this goal, PUFF's official X announced on September 13 that by upgrading to LayerZero's OFT (Omnichain Fungible Token) protocol, PUFF has fully realized cross-chain interoperability, embarking on a full-chain adventure. A liquidity pool has already been deployed on the Ethereum mainnet, allowing users to trade PUFF directly on Uniswap and 1inch without a complicated cross-chain process!
This upgrade of PUFF means that it can capture users, funds, and liquidity from the entire chain market. With better accessibility, it can quickly accumulate consensus in more ecosystems and replicate its successful development strategy in the Mantle ecosystem across other ecosystems.
On the other hand, through integration with different on-chain ecosystems, PUFF is expected to closely integrate various ecological applications, creating richer and more innovative application scenarios. This strategy will not only drive PUFF to effectively capture market demand and achieve a deflationary effect but will also significantly enhance the value capacity of the PUFF ecosystem and the value attributes of its tokens.
Therefore, the launch of PUFF's mainnet and the initiation of its full-chain plan are undoubtedly milestone events, bringing more participation opportunities and innovation potential to the PUFF community, laying a solid foundation for the expansion and value discovery of the PUFF ecosystem. At the same time, this is also a positive and clear signal: PUFF is entering a new stage of "barbaric growth" and accelerating its process of becoming a leading meme in the crypto market.
The profound heritage of the PUFF ecosystem
As an innovative Memecoin rooted in the Mantle chain, PUFF combines various elements such as Restaking, DeFi, and GameFi, building a meme project that is both comprehensive and innovative, with significant community influence. Its ecosystem and community culture are rich in connotation and deep in heritage, injecting unique vitality and charm into the entire project.
Genesis period
As early as March 2024, PUFF's genesis Mint phase raised 5520 mETH, ultimately over-subscribing and raising nearly 8000 mETH, demonstrating PUFF's strong capital-raising ability from the very beginning of its ecological development. However, PUFF proportionally returned all the over-raised portion to users! Based on the value at that time, PUFF raised around 20 million USD and directly deployed a liquidity pool worth 10 million USD after the end to prepare for the long-term development of the ecosystem.
It is worth mentioning that during the genesis Mint phase, PUFF was conducted simultaneously on the Ethereum mainnet and Mantle, but the token distribution was entirely on Mantle. At that time, many users did not have gas for Mantle. PUFF's official team directly airdropped 10 MNT to each participating wallet as gas, airdropping nearly 90,000 USD worth of gas at the time. These two events are enough to prove the project's vision and its user-centric mission.
Token distribution
In terms of token distribution, PUFF has a total supply of 888 million [deflation has begun, details below], with 26% released during the genesis Mint, another 15% used for adding liquidity, mETH holders receiving 4% of PUFF airdrop shares, and 34% allocated for airdrops after the genesis Mint. Therefore, PUFF tokens are widely circulated with minimal concentration, providing a foundation for the subsequent good development of the PUFF ecosystem.
In addition to the genesis Mint, the 34% airdrop share will be distributed to PUFF holders through 5 chapters! Each chapter requires staking PUFF in Methlabs, with staking rewards received after the staking period ends! Currently, all chapters have been completed, and the final showdown is about to arrive!
There are also two very creative original games interspersed: Goldiocks Bag and Guess Market Cap Ranking, helping users clarify their investment ideas while bringing fun and more returns!
In mid-August, PUFF launched the Dragons NFT series, totaling 8888 pieces, including 301 Legend NFTs and 8587 Classic NFTs, which need to be minted using PUFF.
It is not difficult to see that the PUFF token airdrop round is mainly allocated to true participants and builders, who are more likely to stake and adopt PUFF tokens, significantly reducing PUFF's market circulation. At the same time, the application scenarios for PUFF tokens are continuously emerging, and the Dragons NFT series launched by PUFF is just the beginning, with more application scenarios using PUFF tokens to be launched in the future.
Additionally, recently PUFF collaborated with Bybit Web3 wallet to hold an event and will airdrop 1 million PUFF as event rewards. This may be a signal that PUFF is about to be listed on Bybit exchange, combined with the positive news of the mainnet launch mentioned above, PUFF tokens may really be on the verge of explosion.
Recognition of PUFF by old OGs
Currently, more and more people are confident in holding PUFF and are joining the staking army of PUFF tokens. After all, the early holders of PUFF are influential big V and old OGs in the crypto circle, and some crypto funds also hold PUFF. For instance, Twitter Degen trader DCF GOD purchased 1.5 million USD worth of PUFF in June, which is enough to demonstrate the industry's recognition of it. The holdings of OGs and well-known traders continuously bring confidence to community users and retail investors.
Overall, the PUFF ecosystem has always stood with its users and community, and after a period of development, it has formed its own cultural heritage and community consensus, which are the most important value foundations for the long-term development of the PUFF ecosystem and the source of its ability to capture value over the long term.
The darling of the Mantle ecosystem, PUFF enjoys immense favor.
In fact, Mantle has a significant background as well. In 2023, Mantle merged with BitDAO, the largest DAO organization in terms of global funding scale, establishing a DAO-led Web3 ecosystem, namely the Mantle ecosystem, which includes a high-performance modular L2 blockchain built on Ethereum.
The Mantle ecosystem inherits a large amount of capital from BitDAO, acquiring nearly 300 million USD in USDC/USDT and about 270,000 ETH, with BitDAO's total capital value exceeding 2.5 billion USD.
However, from the perspective of the Mantle chain, it entered the market relatively late and missed the previous meme waves, and its voice in the inscription wave has always been relatively weak. On the other hand, apart from the halo of BitDAO, Mantle itself is backed by a strong community, but after entering the market, it urgently needs its own meme culture to enhance community cohesion.
With PUFF being launched in the form of a meme on Mantle, it has become the earliest and most authentic representative of meme culture on the Mantle chain, sought after by various players on Mantle. Thus, the lack of meme culture in Mantle provides fertile ground for PUFF's development. The explosive popularity of PUFF is actually the result of a mutual selection between the Mantle chain and PUFF, as everyone hopes to achieve the "revival" of meme culture through PUFF.
From this perspective, the reason PUFF was able to raise tens of millions in the genesis Mint is closely related to the Mantle officials.
PUFF's founder, Jordi, is the Chief Operating Officer of Mantle, and the Mantle officials have repeatedly expressed their support for PUFF. They also airdropped 6% of their newly governed token COOK to PUFF holders. PUFF holders can now use PUFF as collateral for MethLab's mETH without worrying about liquidation, which is a first in Web3 and the greatest recognition of PUFF's potential!
During the genesis Mint, PUFF used Mantle's LST token mETH and conducted a genesis airdrop for mETH holders. The added liquidity and mETH form a trading pair, and staking mETH can also participate in PUFF's airdrop activities, with the same distribution ratio as PUFF holders. PUFF has significantly enhanced the practicality of mETH, effectively increasing the activity of the Mantle ecosystem and maximizing the rewards for mETH holders.
Thus, PUFF and Mantle are mutually beneficial, with Mantle pouring all its ecological resources, community consensus, attention, and value into PUFF, making it a meme unicorn on Mantle.
PUFF holder airdrop, an early opportunity not to be missed
In fact, PUFF ecosystem users are continuously capturing the development dividends of the ecosystem. In addition to the initial PUFF airdrop that has been completed, the core protocol of the Mantle ecosystem, Mantle LSP, will also allocate 5% of the COOK token to PUFF token holders and 1% to PUFF NFT holders. The Mantle ecosystem currently has over 500,000 ETH staked in Mantle LSP, with a TVL exceeding 1.2 billion USD, ranking in the top five in the entire liquidity staking track. Its total COOK token supply is 5 billion, of which 1.5 billion is allocated for airdrops.
For PUFF holders, they will receive a 5% airdrop of COOK tokens (a total of 250 million COOK), which will be used for PUFF's final showdown. To receive the COOK airdrop, PUFF holders need to continuously burn PUFF. When the game starts, holders must make a choice; the faster they choose, the higher the multiplier they receive. Users can freely choose to continue holding or burn based on their judgment.
Additionally, Puff Dragons NFT holders will receive 1% of COOK, with each Legend NFT receiving 50,000 COOK and each Classic NFT receiving 4,070 COOK.
So what does the potential airdrop signify?
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Users must hold PUFF for the long term.
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Users need to continuously burn PUFF.
From the perspective of airdrops, the long-term development trend of PUFF tokens will certainly involve a large amount of staking and a continuous decrease in circulating supply. Therefore, PUFF tokens will likely rise due to the deflation brought about by these demands and burns, continuously providing confidence to holders, investors, and players.
Deflation plan: PUFF enters an extreme deflation stage, forming an important driving force for value spiral
In addition to the previously mentioned final showdown, where burning PUFF is required to obtain COOK airdrops, PUFF further announced other new deflation plans in August, namely:
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33% of the total supply of PUFF in the treasury will be permanently locked.
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Unclaimed PUFF rewards, estimated to be around 50 million, will be burned.
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6 million PUFF consumed for Minting NFTs will be directly burned.
PUFF's total supply is 888 million, of which about 33% (i.e., 290 million) has been permanently locked, and there are approximately 56 million PUFF from unclaimed and mint NFT burns. Assuming that 200 million PUFF are destroyed in the final showdown, the final circulating supply may drop to 342 million, accounting for only 38% of the total planned amount.
As the tokens are continuously destroyed and the total supply decreases, the scarcity of PUFF becomes increasingly prominent, and the value carried by each token continues to rise. Assuming the market cap remains unchanged, PUFF tokens are expected to achieve nearly threefold growth in the short term.
However, the final showdown has not yet arrived, and the destruction numbers are merely hypothetical; future trends remain full of uncertainty. With the launch of PUFF's mainnet, the initiation of ecological application series, and the construction of a full-chain system, a large amount of value is continuously being injected into the PUFF ecosystem. Combined with its innovative ecosystem, cross-chain liquidity, and support from the Mantle ecosystem, PUFF has enormous potential for future development.
Currently, PUFF's market cap is approximately 30 million USD. From the narrative and ecological fundamentals, PUFF is not inferior to most meme tokens on the market. In this market cycle, leading meme tokens like PEPE, FLOKI, and BOME have reached market caps of hundreds of millions or even billions of dollars. Therefore, we expect that as the PUFF series plans are gradually implemented, its market cap is likely to reach hundreds of millions or even billions of dollars, allowing PUFF tokens to retain a hundredfold appreciation potential without deflation.
So, with extreme deflation + continuous external value capture and expectations for external market development, the dual Buff is allowing PUFF tokens to achieve value concentration under the joint action of two dimensions, and the price increase of PUFF tokens is expected to reach hundreds or even thousands of times.
Conclusion
Various signs indicate that PUFF is on the eve of explosion:
The launch of PUFF's deflation plan, which involves permanently locking 33% of the tokens in the treasury, burning unclaimed rewards, and consuming NFT Mint, has significantly reduced the market circulation. Additionally, in the "final showdown," users need to burn PUFF to obtain COOK airdrop shares, further promoting deflation and enhancing token value.
PUFF's expansion in capturing liquidity and users across the entire chain, achieved through the LayerZero OFT protocol for cross-chain interoperability, will allow liquidity to be added to more blockchains in the future, enabling users to trade freely between mainstream chains like Ethereum. Full-chain liquidity not only makes PUFF more accessible but also brings more opportunities for market expansion.
Continuously consolidating the existing ecosystem, the support from the Mantle ecosystem and Bybit also provides a strong backing for PUFF.
With PUFF's deflationary effects, full-chain liquidity, deep integration with the Mantle ecosystem, and the potential upcoming listing on Bybit, PUFF is endowed with strong explosive potential and long-term value. As a meme project recognized by the market, its expected price increase is likely to reach hundreds to thousands of times.
So, is now the best time to enter PUFF?
We see that due to the overall market impact, although PUFF has recently rebounded, its price is still below the genesis Mint cost and its market cap is not high, making it indeed the best entry point!