Catoshi ($CATS) — pioneers of the next phase of DeFi: the MemeFi revolution

Catoshi ($CATS) — pioneers of the next phase of DeFi: the MemeFi revolution

  1. Project Overview: Catoshi
    Launching on May 25th — at the tail end of the meme coin explosion of April/May — Catoshi might have looked like “just another meme,” but a peek under the hood shows a DeFi project with a potentially game-changing view on this sector. Dubbing themselves “pioneers of the next wave of DeFi,” Catoshi is positioning its project to harness the high-impact energy of a meme community while building innovative DeFi solutions. This “MemeFi” approach is kicking off with the June launch of The Crossing, a cross-chain bridge that will allow cryptocurrency projects to unlock a new level of token utility, opportunity, and possibility.
  2. The Crossing
    Catoshi has partnered with the elite team at PADSwap to make it easier, smoother, and more affordable than ever before for Ethereum-based projects to cross to the Binance Smart Chain (BSC) and BSC projects to cross to Ethereum. Catoshi and PADSwap have developed this bridge in such a way that high-APY farming and staking can be made easily accessible for holders of Ethereum projects as they cross to BSC, with these holders able to take advantage of expanded token utility, and with the project as a whole finding itself elevated by the broadened range of available audience and the corresponding depletion in circulating token supply.
  3. A Potential Case Study
    An example is often better than an explanation; so to truly understand the value of this first focus of the Catoshi project, we’ll look at an Ethereum-based project that we’ll call X-Crypto.

X-Crypto has a strong, loyal community, a development budget of $50,000, and a desire to expand their growth potential by accessing untapped opportunities on BSC — where new token holders, new partners, and new DAPPs for their ecosystem all await. X-Crypto would also like to reward their loyal ERC-20 holders — and they realize they could accomplish all of these goals with a straightforward solution:

  1. Bridge the ERC-20 tokens to the Binance Smart Chain.
  2. Provide holders with an opportunity for staking or yield farming.

Unless the main developer is highly skilled, the X-Crypto team will have to fork over a huge chunk of their development budget for these solutions. Bridging the tokens to BSC could cost at least $20,000 on its own; and creating a simple farm could cost over $25,000, and could be susceptible to crippling flash loan attacks. The team’s goals are technically achieved, but they rest on a rickety foundation, and money that could otherwise have been spent on additional development, or initiatives such as marketing or listings, has been almost completely depleted.

By utilizing The Crossing from Catoshi, however, X-Crypto would be able to bridge their project for a small fraction of the cost, while further taking advantage of Catoshi’s developmental partnership with PADSwap to easily set up a fair liquid yield farm immune to flash loan attacks — again, at a small fraction of the otherwise-available price. Not only are the team’s goals achieved, but they are now built on a rock-solid foundation, and over 50% of the development budget has been saved for future development and initiatives.

In the future, if X-Crypto wishes to do the same on Solana, Fantom, or Polygon (previously Matic) blockchains, Catoshi and PADSwap will again be there to provide the solutions.

With all of this, Catoshi is well-positioned to become an integral conduit of growth for ambitious blockchain projects looking to expand audience, opportunity, and token utility.

  1. Community
    Rather than positioning themselves as purely a DeFi project, Catoshi took ownership over the audacious, forward-thinking MemeFi concept: building their DeFi project alongside a strong meme identity and community — and already, they have seen the fruits of this approach, with an active community that has become heavily involved in the project, including an inner circle of real-world artists, business leaders, and brand builders working closely with the team. Community-sponsored competitions and cat-inspired memes generate consistent community participation, and the team works closely with the community to make sure members feel recognized and rewarded for their efforts. By adding the snowball effect that accumulates over time through an engaged and well-built community, Catoshi is positioning its project to benefit from the full power of MemeFi.

Catoshi has adopted the motto, “Believe in Satoshi, believe in Catoshi”.

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Alex
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Alex

Cool, I like the shift towards utility for meme tokens. MemeFi seems like a great idea

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Knasco
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Knasco

Review/explanation of toad.network sustainable yield farming with unique vault system. Higher liquidity fee reward than pancakeswap. Two way eth to bsc bridge through Catoshi partnership. Team prides themselves on being open, honest and transparent.

https://youtu.be/NNnp42p15P4

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