At this stage, the growth point of the cryptocurrency market mainly comes from the meme market. For example, in August this year, Tron stood out amid market fluctuations, benefiting from seizing the Meme craze (such as the launch of SunPump), which triggered a surge in on-chain activities, significantly increasing user participation and achieving a dual growth in token price and market capitalization. TRON's price rose by 23.1%, and its market cap increased by 22.7%.
On the other hand, some leading CEX platforms are looking for new growth points in the meme market amid the overall market downturn and lack of narratives. For instance, Binance recently launched the MEME coin $CATI on its Launchpool, along with several other MEME coins like NEIRO, TURBO, and BabyDogeCoin. Mainstream CEX platforms such as OK, Bybit, and Gate have also frequently listed MEME coins recently, indicating that investing in memes is currently the best choice and the best timing.
In fact, when choosing meme coins, we should focus on those with lower market capitalization, high growth potential, and strong community foundations that have not yet been listed on major exchanges. These types of meme tokens are often on the brink of explosion and are expected to become wealth amplifiers, bringing us returns of hundreds or thousands of times.
PUFF is one of the typical representatives of the above characteristics. Currently, it has a low market cap (around $30 million), its mainnet has just launched, and it is in the process of full-chain expansion and circulation. It has not yet been listed on major exchanges and is community-driven, praised as the "favorite child" of the Mantle ecosystem, gathering strong community consensus. Therefore, PUFF, which is still in its early stages and on the brink of explosion, is truly worthy of high attention.
The launch of PUFF's mainnet is just the prelude to its "barbaric growth."
As a leading meme project in the Mantle ecosystem, PUFF has a large community user base and consensus support. However, PUFF's ambition goes beyond the Mantle ecosystem; it aims to become a leading meme ecosystem that can compete with all top meme projects in the cryptocurrency market.
To achieve this goal, PUFF's official X announced on September 13 that by upgrading to the LayerZero OFT (Omnichain Fungible Token) protocol, PUFF has fully realized cross-chain interoperability, embarking on a full-chain adventure. A liquidity pool has already been deployed on the Ethereum mainnet, allowing users to trade PUFF directly on Uniswap and 1inch without a complicated cross-chain process!
This upgrade of PUFF means that it can capture users, funds, and liquidity from the full-chain market. With better accessibility, it can rapidly accumulate consensus in more ecosystems and continuously replicate its successful development strategy in the Mantle ecosystem across other ecosystems.
On the other hand, through integration with different on-chain ecosystems, PUFF is expected to closely integrate various ecological applications, creating richer and more innovative application scenarios. This strategy will not only drive PUFF to effectively capture market demand and achieve a deflationary effect but will also significantly enhance the value capacity of the PUFF ecosystem and the value attributes of its tokens.
Therefore, the launch of PUFF's mainnet and the initiation of its full-chain plan are undoubtedly milestone events, bringing more participation opportunities and innovation potential to the PUFF community, laying a solid foundation for the expansion and value discovery of the PUFF ecosystem. At the same time, this is also a positive and clear signal: PUFF is entering a new stage of "barbaric growth" and accelerating its process of becoming a leading meme in the cryptocurrency market.
The profound heritage of the PUFF ecosystem
As an innovative Memecoin rooted in the Mantle chain, PUFF combines various elements such as Restaking, DeFi, and GameFi, building a meme project that is both comprehensive and innovative, with significant community influence. Its ecosystem and community culture are rich in connotation and deep in heritage, injecting unique vitality and charm into the entire project.
Genesis Period
As early as March 2024, PUFF's genesis Mint phase raised 5,520 mETH, ultimately over-subscribing and raising nearly 8,000 mETH, demonstrating PUFF's strong capital-raising ability at the initial stage of ecosystem development. However, PUFF proportionally returned all the excess raised to users! Based on the value at that time, PUFF raised around $20 million and directly deployed a liquidity pool worth $10 million after the end to prepare for the long-term development of the ecosystem.
It is worth mentioning that during the genesis Mint phase, PUFF was conducted simultaneously on the Ethereum mainnet and Mantle, but the token distribution was entirely on Mantle. At that time, many users did not have Mantle's gas. PUFF's official team directly airdropped 10 MNT to each participating wallet as gas, airdropping nearly $90,000 worth of gas at the time. These two events are enough to prove the project's vision and its community-user-centric mission.
Token Distribution
In terms of token distribution, PUFF has a total supply of 888 million [deflation has begun, details below]. The genesis Mint released 26% of the total supply, with another 15% allocated for adding liquidity. mETH holders received 4% of the PUFF airdrop share, and another 34% was allocated for airdrops after the genesis Mint. Therefore, PUFF tokens are widely circulated with minimal concentration, providing a foundation for the subsequent good development of the PUFF ecosystem.
In addition to the genesis Mint, the 34% airdrop share will be distributed to PUFF holders through five chapters! Each chapter requires staking PUFF in Methlabs, and rewards will be obtained after staking ends! Currently, all chapters have been completed, and the final showdown is approaching!
In between, two very creative original games were interspersed: Goldiocks Bag and Guess Market Cap Ranking, helping users organize their investment thoughts while bringing fun and more profits!
In mid-August, PUFF launched the Dragons NFT series, with a total of 8,888 pieces, including 301 Legend NFTs and 8,587 Classic NFTs, which need to be minted using PUFF.
It is not difficult to see that the PUFF token airdrop round is mainly allocated to genuine participants and builders, who are more inclined to stake and adopt PUFF tokens, significantly reducing PUFF's market circulation. At the same time, the application scenarios for PUFF tokens are continuously emerging. The Dragons NFT series launched by PUFF is just the beginning, and more application scenarios using PUFF tokens will be introduced in the future.
Additionally, recently PUFF collaborated with the Bybit Web3 wallet for an event and will airdrop 1 million PUFF as event rewards. This may be a signal that PUFF is about to be listed on the Bybit exchange, combined with the positive news of the mainnet launch mentioned above, PUFF tokens may indeed soon experience an explosion.
Recognition of PUFF by Old OGs
Currently, more and more people are confident in holding PUFF and are joining the staking army of PUFF tokens. After all, the early holders of PUFF are influential big V and old OGs in the crypto circle, and even some crypto funds hold PUFF. For instance, Twitter Degen trader DCF GOD purchased $1.5 million worth of PUFF in June, which is enough to demonstrate the industry's recognition of it. The holdings of OGs and well-known traders continuously bring confidence to community users and retail investors.
Overall, the PUFF ecosystem has always stood with users and the community, and after a period of development, it has formed its own cultural heritage and community consensus, which are the most important value foundations for the long-term development of the PUFF ecosystem and the source of its ability to capture value over the long term.
The favorite child of the Mantle ecosystem, PUFF enjoys immense favor.
In fact, Mantle has a significant background as well. In 2023, Mantle merged with BitDAO, the largest DAO organization in terms of global funding scale, establishing a DAO-led Web3 ecosystem, namely the Mantle ecosystem, which includes a high-performance modular L2 blockchain built on Ethereum.
The Mantle ecosystem inherits a large amount of funding from BitDAO, acquiring nearly $300 million in USDC/USDT and about 270,000 ETH, with BitDAO's total fund value exceeding $2.5 billion.
However, from the perspective of the Mantle chain, it entered the market relatively late and missed the previous meme waves, and its voice in the inscription wave has always been relatively weak. On the other hand, aside from the BitDAO halo, Mantle itself is backed by a strong community, but after facing the market, it urgently needs its own meme culture to enhance community cohesion.
With PUFF being launched in the form of a meme on Mantle, it has become the earliest and most authentic representative project of meme culture on the Mantle chain, sought after by various players on Mantle. Thus, the lack of meme culture in Mantle provides fertile ground for PUFF's development. The explosive popularity of PUFF is, in fact, the result of a mutual selection between the Mantle chain and PUFF, as everyone hopes to achieve the "revival" of meme culture through PUFF.
From this perspective, the reason PUFF was able to raise tens of millions in its genesis Mint is closely related to Mantle's official support.
PUFF's founder, Jordi, is the Chief Operating Officer of Mantle, and the Mantle official has repeatedly expressed support for PUFF. They also airdropped 6% of its newly governed token COOK to PUFF holders. PUFF holders can now use PUFF as collateral for MethLab's mETH without worrying about liquidation, which is a pioneering move in Web3 and the greatest recognition of PUFF's potential!
During the genesis Mint, PUFF used Mantle's LST token mETH and conducted a genesis airdrop for mETH holders. The added liquidity and mETH formed a trading pair, and staking mETH also allowed participation in PUFF's airdrop activities, with the same distribution ratio as PUFF holders. PUFF has significantly enhanced the practicality of mETH, effectively increasing the activity of the Mantle ecosystem and maximizing returns for mETH holders.
Thus, PUFF and Mantle are mutually beneficial, with Mantle pouring all its ecological resources, community consensus, attention, and value into PUFF, making it a meme unicorn on Mantle.
PUFF holder airdrop, an early opportunity not to be missed
In fact, PUFF ecosystem users are continuously capturing the development dividends of the ecosystem. In addition to the initial PUFF airdrop that has been completed, the core protocol of the Mantle ecosystem, Mantle LSP, will also allocate 5% of the COOK token to PUFF token holders and 1% to PUFF NFT holders. The Mantle ecosystem currently has over 500,000 ETH staked in Mantle LSP, with a TVL exceeding $1.2 billion, ranking in the top five in the entire liquidity staking track. Its total supply of COOK is 5 billion, of which 1.5 billion is allocated for airdrops.
For PUFF holders, they will receive a 5% airdrop of COOK tokens (a total of 250 million COOK), which will be used for PUFF's final showdown. To receive the COOK airdrop, PUFF holders need to continuously burn PUFF. When the game begins, holders must make a choice; the faster they choose, the higher the multiplier they will receive. Users can freely choose to continue holding or burn based on their judgment.
Additionally, Puff Dragons NFT holders will receive 1% of COOK, with each Legend NFT receiving 50,000 COOK and each Classic NFT receiving 4,070 COOK.
So what do the potential airdrops signify?
-
Users must hold PUFF for the long term.
-
Users need to continuously burn PUFF.
From the perspective of airdrops, the long-term development trend of PUFF tokens will involve significant staking and a continuous reduction in circulating supply. Therefore, PUFF tokens are expected to rise due to the deflation brought about by these demands and burns, continuously providing confidence to holders, investors, and players.
Deflation Plan: PUFF enters an extreme deflation phase, forming an important driving force for value spiral
In addition to the previously mentioned final showdown, where burning PUFF is required to obtain COOK airdrops, PUFF further announced other new deflation plans in August, namely:
-
33% of the total supply of PUFF in the treasury will be permanently locked.
-
Unclaimed PUFF rewards, estimated to be around 50 million, will be burned.
-
6 million PUFF consumed for Minting NFTs will be directly burned.
PUFF's total supply is 888 million, of which about 33% (i.e., 290 million) has been permanently locked, and there are approximately 56 million PUFF from unclaimed and mint NFT burns. Assuming that 200 million PUFF are destroyed in the final showdown, the final circulating supply could drop to 342 million, only 38% of the total planned amount.
As the tokens are continuously destroyed and the total supply decreases, the scarcity of PUFF becomes increasingly prominent, and the value carried by each token continues to rise. Assuming the market cap remains unchanged, PUFF tokens are expected to achieve nearly threefold growth in the short term.
However, the final showdown has not yet arrived, and the destruction numbers are merely hypothetical; future trends remain full of uncertainty. With the launch of PUFF's mainnet, the initiation of ecological application series, and the construction of a full-chain system, a large amount of value is continuously being injected into the PUFF ecosystem. Combined with its innovative ecosystem, cross-chain liquidity, and support from the Mantle ecosystem, PUFF has enormous potential for future development.
Currently, PUFF's market cap is approximately $30 million. From the narrative and ecological fundamentals, PUFF is by no means inferior to most meme tokens on the market. In this market cycle, leading meme tokens like PEPE, FLOKI, and BOME have reached market caps of hundreds of millions or even billions of dollars. Therefore, we expect that as the PUFF series plans are gradually implemented, its market cap is likely to reach hundreds of millions or even billions of dollars, allowing PUFF tokens to retain a hundredfold appreciation potential without deflation.
So, with extreme deflation + continuous value capture from external sources and expectations for market development, the dual Buff is enabling PUFF tokens to achieve value concentration under the influence of two dimensions, and the price increase of PUFF tokens is expected to reach hundreds or even thousands of times.
Conclusion
All signs indicate that PUFF is on the brink of explosion:
The launch of PUFF's deflation plan, which involves permanently locking 33% of the treasury tokens, burning unclaimed rewards, and consuming NFT Mint, has significantly reduced the market circulation. Additionally, in the "final showdown," users need to burn PUFF to obtain COOK airdrop shares, further promoting deflation and enhancing token value.
PUFF's expansion in capturing liquidity and users across the full chain, achieved through the LayerZero OFT protocol for cross-chain interoperability, will allow liquidity to be added on more blockchains in the future, enabling users to trade freely between mainstream chains like Ethereum. Full-chain liquidity not only makes PUFF more accessible but also brings more opportunities for market expansion.
Continuously consolidating the existing ecosystem, the support from the Mantle ecosystem and Bybit also provides a strong backing for PUFF.
With PUFF's deflationary effects, full-chain liquidity, deep integration with the Mantle ecosystem, and the potential upcoming listing on Bybit, all these factors endow PUFF with strong explosive potential and long-term value. As a meme project recognized by the market, its expected price increase is likely to reach hundreds to thousands of times.
So, is now the best time to enter PUFF?
We see that due to the overall market impact, although PUFF has recently rebounded, its price is still below the genesis Mint cost and its market cap is low, making it indeed the best entry point!