On February 20, Hong Kong released a consultation document on crypto trading, marking that Hong Kong has become a crypto-friendly region. Crypto platforms can apply for licenses in Hong Kong; institutions and investors can trade cryptocurrencies under the regulatory framework; judging from the content of the document, Hong Kong's relevant policies are not as strict as imagined, but give crypto trading platforms and investors enough space.
Hong Kong's friendliness towards cryptocurrencies has led to a sharp rise in market expectations for Web3.0. The Hong Kong sector has also received more attention, and the token prices of some Chinese projects have begun to soar. Although the premise of this surge is not a breakthrough in the project itself, but due to the FOMO sentiment caused by the impact of news, it also allows the market to see the potential of the Chinese sector. Originally a world financial center, coupled with the loose policy on the crypto market, Hong Kong is likely to become the world center of Crypto in the future.
Market sentiment has calmed down, but the rise of the Hong Kong sector has just begun. More pioneering crypto talents and innovative projects are moving towards Hong Kong, accumulating strength and building with great concentration. Currently, Hong Kong has become the biggest opportunity for Web3.0.
MemoryDAO landed in Hong Kong
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MemoryDAO is a Web3.0 aggregation platform created by MemoryLabs. MemoryLabs was founded in Singapore in 2019 and has been committed to the research and development and construction of blockchain underlying technologies. The team members come from all continents and provide professional digital asset management tools and services to blockchain users in more than 40 countries around the world. It is currently applying to join the Hong Kong Blockchain Association, and the MemoryLabs Foundation will also be established in Hong Kong in the near future. Memory Labs will become one of the first Web3.0 projects deployed in Hong Kong.
Product layout
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MemorySwap
MemorySwap is the first product of MemoryDAO. In response to the advanced development of decentralized financial protocols (DeFi) and the increasing maturity of lending, exchanges, derivatives, NFT, Gamefi and other markets, MemorySwap has designed a one-stop decentralized service, allowing users to use various user-friendly functions in the protocol safely and without obstacles. Developers can also easily integrate the open, distributed, unrestricted, and secure trading environment and various tools provided by MemorySwap without spending time, energy, and costs to repeatedly build them.
In addition to providing basic exchange and liquidity functions, MemorySwap also plans to provide more practical functions:
Time lock: The project's tokens are generally attributed in a linear release manner, but there is a lack of effective supervision. In order to increase users' trust in the project and make the token release more transparent and open, MemorySwap provides a time-locked smart contract. The total issuance, locked amount, locked time, release countdown, release amount and other data are open, transparent and easy to query, making the entire process as public as possible.
Whitelist: Whitelisted projects have their own logo and liquidity pool. The MemoryDAO community studies and reviews the projects on the whitelist and votes on whether to add them to the whitelist. Whitelisted projects have higher security.
CryptoRich3
CryptoRich3, also known as The Three Kingdoms, is inspired by one of China's four great classics - Romance of the Three Kingdoms. As an important part of MDAO GameFi and the NFT ecosystem, The Three Kingdoms focuses on card strategy and random exploration.
The Three Kingdoms is divided into three parts: Heroes War, Siege War and Ranked Match. Players can enter the game through the entrance on the homepage. Currently, PVP group battles are open in Heroes War, and players need to use certain strategies to win; in Siege War, players can obtain stable income through PVE, and can also get additional rewards if certain conditions are met.
In the game, users can use MDAO to draw blind boxes, obtain characters, mounts, weapons, etc. in the game, and start Play to Earn. There are many benefits for players to receive in the game, including invitation benefits, airdrop gift boxes and bank lock-up benefits.
Project development planning
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MemoryWallet is an open source wallet that supports multiple chains. It is currently under development and construction. It is the third blockchain-based application of MemoryLabs. The release of MemoryWallet will become the cornerstone of the sustainable development of the MemoryDAO ecosystem. Users will be able to easily and quickly link and use the entire MemoryDAO ecosystem through MemoryWallet.
MemoryDAO will launch the NFT market in Q2 2023, which will be one of the first Dex platforms to launch the NFT market. The user's account can be automatically connected to the NFT account, allowing users to access and operate digital assets and NFTs with one click. Creators can choose to use ETH, MDAO and USDT for settlement on the platform without being restricted by the platform.
Multi-chain deployment is the best choice for on-chain protocols. MemoryDAO will also start multi-chain deployment in Q4 2023 to introduce more users to the MemoryDAO ecosystem and improve the operating efficiency, scalability and composability of the ecosystem.
2024 will also be a year of rapid development for MemoryDAO. Cross-chain bridges, aggregated transactions, Swap upgrades, DAO launches, lending, NFT lending, and machine gun pools will all be built and deployed this year. In Q4 2024, an independent Memory public chain will be developed to accommodate more developers and users and integrate into the huge MemoryDAO ecosystem.
MemoryDAO Economic System
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The token of MemoryDAO is MDAO, with a total supply of 200 million.
DEX Farming Rewards: 30%
Game output: 25%
EYE：2.5%
Ecology: 34%
Events and marketing: 0.3%
Team and partners: 7%
Liquidity: 0.5%
Open test airdrop: 0.7%
MDAO is the only practical token in the entire MemoryDAO ecosystem. MDAO has zero transaction tax points and can be used in MemorySwap, CryptoRich3, MemoryWallet, and future ecological projects and public chains. It is an indispensable and important part of the entire ecosystem.
In Memory Swap, there are two ways to earn MDAO. Users can get airdrops by early participation in product testing and community contributions, or by getting farming rewards in Memory Swap. All transaction fees of Memory Swap will be regularly used to repurchase tokens on the open market and distributed proportionally to token stakeholders and the development committee.
MDAO’s presale is ongoing:
Pre-sale time: March 1st - April 15th
Pre-sale quantity: 5,000,000 MDAO
Pre-sale price: 0.2USDT/MDAO
Fundraising amount: $1 million
Purchase limit: 5000U
Total supply: 2.5%
Pre-sale MDAO, TGE 20%, and then released linearly monthly for 4 months.
Summarize
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MemoryDAO is committed to creating a complete Web3.0 ecosystem, which is a complex, multi-track system with MDAO as the only practical token. Currently, the DEX platform MemorySwap, GameFi game The Three Kingdoms, MemoryWallet, cross-chain bridges, NFT markets, aggregated transactions, DAOs, lending, public chains, etc. have been launched.
From the information released by the project, we can see that this is an ambitious team. Being rooted in crypto-friendly Hong Kong is also a plus. From the project planning, we can see the huge potential in the future. Maybe because they are busy with construction, the project has not focused on building the community. The community is not active enough, and user stickiness is a problem that needs to be considered. In addition, the content of this article is based on the collection of public information on the Internet. It is not a financial advice. Please DYOR when participating in any project and invest carefully.
