South Park’s Kenny Powers Up: Meme Coin Raises Over $400,000 In Market Cap On Presale
South Park’s Kenny McCormick may be perpetually doomed, but his latest venture in the world of cryptocurrency is anything but. Burn Kenny, the new hilariously irreverent meme coin has raised over $400,000 in market cap on its presale, leaving fans excited for what’s to come.
Inspired by the beloved South Park character, Burn Kenny is a super deflationary token that’s designed to do one thing – get burnt.
How Burn Kenny’s Meme Coin Token Burning Could Benefit Investors
Burn Kenny’s token burning process is designed to gradually decrease the total supply of the token, creating scarcity and potentially increasing the value of the remaining tokens. The process works by gradually burning a portion of the total token supply over a set period until a predetermined percentage of the tokens have been destroyed.
In Burn Kenny’s case, 30% of the total token supply will be burnt over three days, starting 24 hours after the token’s initial listing. This will be done by sending a portion of the tokens straight to the “fiery depths of token hell,” effectively removing them from circulation. The burning process will continue at a rate of 10% every 24 hours until the 30% burn target is reached.
The value of the remaining tokens could potentially increase as a result of the token-burning process, as there will be fewer tokens in circulation. This creates a situation of increased demand for the remaining tokens, which could drive up their price.
With a total token supply of 6,666,666,666, an arbitrary number Burn Kenny’s tokenomics are as unique as the character himself.
The presale accounts for 40% of the total token supply, while another 30% will be thrown into the Uniswap liquidity pool, locked for three months. The remaining 30% will be sent straight to the fiery depths of token hell, gradually burnt over three days, starting 24 hours after listing. By the end of Q3 2023, the team behind Burn Kenny aims to have fulfilled all their roadmap goals.
In recent updates, they have announced that they have deployed the contract, paired and locked Liquidity Pool (LP), and updated DexTools with hot pairs ready for trading. These preparations are all essential steps in ensuring a smooth and successful launch for Burn Kenny.
Deploying the contract and pairing and locking LP are key technical components of the launch process. The contract deployment involves setting up the smart contract that will govern the token and ensure its functionality.
In addition to these technical preparations, the Burn Kenny team has also been working to build hype and generate excitement for the launch. They have noted that Ethereum is trending and that DexTools is ready for hot pairs, which could help to drive interest and increase demand for the token.
Burn Kenny’s irreverent approach to cryptocurrency and its use of the South Park character Kenny McCormick as its mascot give it a distinct personality and make it stand out from other meme coins.
Of course, like any meme coin, Burn Kenny’s success will ultimately depend on the strength of its community and the demand for its tokens. However, its unique concept and approach to the meme coin genre could potentially make it a standout project in the crowded world of cryptocurrency.
Featured image from Burn Kenny on Twitter, chart from TradingView.com
Read more: https://www.newsbtc.com/altcoin/south-parks-kenny-powers-up-meme-coin-raises-over-400000-in-presale/
Text source: NewsBTC
