GM☕️ µToken launched last night, but it didn’t make much of a splash.
The market has been treating it as a new setup for $UPEG’s in-house team, but so far, it hasn’t empowered $UPEG at all—$UPEG has no upside anymore, so it started to drop. In the last 24h, it’s down 30%, and its market cap fell from around 6M+ to about 4M+.
Let me briefly introduce the platform itself. It runs on the Robinhood Chain, and launches come in two types:
- Asset-backed token: issue a coin that’s anchored to a real file (any format, max 4 MB). The bytes are written directly into the contract storage—no IPFS. Anyone can read it back on-chain and verify via hash.
- Collection (i.e., µPEG’s format): a generative collectible collection. The coin is still ERC20; once you buy 1 full coin, it automatically mints a generative small image. When you sell the coin, the image follows and gets burned. The traits are determined by the block after minting. If you want to chase rarity, you have to burn and re-mint.
Both start with a bonding curve. Once you fill up 4 ETH, you graduate to Uni v4, and the LP gets burned/locked. The trading fee is 1%, and creators permanently take 0.7% of it. It’s basically Pump.fun combined with small images: the coin has curve-based liquidity, the image has collectible value, so there’s no “no one wants to buy your floor listing” problem.
The first day’s performance was really bad 🤷♀️:
There were a bunch of bugs during the launch; when traffic got heavy and it went through the graduation process, everything froze. Even the official team apologized overnight 🤣. On the timeline, fake CAs and phishing links for “voting to list” were getting more attention than the real deal.
As of now, the whole protocol only has 97 coins, and the leader $SOCCS has a market cap of just 500K+.
Personal thoughts: the mechanism is a good mechanism—unfortunately it didn’t get traction. It didn’t capture its own traffic, and it never fed UPEG even a single drop of “blood.” I don’t know whether it’ll be used to empower UPEG later. If not, then it’s just two things that I really wouldn’t want to deal with at all…
Let’s wait and see.
#MEME #UTOKEN #UPEG