RAS AL KHAIMAH, United Arab Emirates, July 16, 2023 (GLOBE NEWSWIRE) -- Nukem Loans, an isolated lending protocol specifically designed for MEME coins, is set to deploy a Lending Market for BabyDoge coin.
BABYDOGE coin's primary utility is to build a fun meme community to spread awareness of animal adoption. It has 1,765,029 token holders on the BNB smart chain and 11,500 holders on the Ethereum network. Currently, the market cap stands at $206 million, with $13.5 million liquidity on their native BabyDogeSwap and $12.5 million liquidity on PancakeSwap.
Nukem Loans has rated the liquidity to market cap ratio for BabyDoge coin at 0.126. The coin imposes a 5% transactional tax on transfers, which is automatically redistributed to BabyDoge holders.
DeFiKash, the founder of Nukem Loans, stated, "There are potentially 1.7 million token holders with $206 million collateral value competing for $13 million worth of loans. Lenders on BABYDOGE-related markets can expect lucrative yields and potential growth in the addressable market for BABYDOGE. As BABYDOGE scored a low liquidity to market cap ratio, it shows that this is a lenders market, where demand for loans will remain high as long as this ratio stays low."
BABYDOGE coin holders experience a 5% loss of their holdings upon transferring the token, whether it's sending it to a friend, family member, or to a decentralized exchange for selling.
"Nukem Loans brings FREE HYPE, FREE MARKETING, and FREE UTILITY to BABYDOGE coin holders. It is somewhat unfair to holders that they lose 5% of their holdings for interacting with our vaults, which add significant value to token holders. We believe that the developers of BABYDOGE coin should not penalize their users but rather support the addition of value and utility to their community by whitelisting our vault smart contracts in their token contract," explained community manager Coinsigliere.
"Nukem Loans gives token holders a reason to HODL BABYDOGE coin and not sell by taking a loan against their collateral value when needed. The leverage function brings more volume and volatility to token trading, which, in turn, increases transactional taxes that benefit the community. The community can hedge their risk, trade volatility, or earn passive income by using Nukem Loans. This level of utility attracts more token holders and leads to market cap growth," added Coinsigliere.
About Nukem Loans
Nukem Loans, an isolated lending protocol designed specifically for high-risk meme projects with deep liquidity and large communities. After 18 months of dedicated work and over 50 iterations, Nukem Loans has perfected their smart contracts to revolutionize the industry and empower projects with strong communities but limited utility.
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