Wise Monkey is a brand new Meme coin inspired by the proverb "Do not see evil, do not hear evil, do not speak evil." Its goal is to create the most trustworthy and interactive community.
Foreword
Wise Monkey is a new meme coin project launched in December 2024, aiming to build a vibrant community and combat FUD (fear, uncertainty, and doubt). The project is based on the Japanese proverb "Do not see evil, do not hear evil, do not speak evil," and also attempts to reshape the cryptocurrency meme coin space. The three wise monkeys and three monkey emojis inspired the coin's creation.
The project is backed by well-known companies such as Floki and Animoca Brands. With this support, the project aims to attract a broad audience and tap into the entertainment and speculative value of Meme Coin.
This article will delve into the project’s features, advantages, and factors that may contribute to its success.
What is Wise Monkey (MONKY)?
Wise Monkey token (MONKY) is an emerging meme coin that has gained widespread attention in the crypto community. It was developed by Forj, a subsidiary of Animoca Brands, and shares the ecosystem with the popular meme coin Floki.
Source: Wise Monkey Official Website
The coin's design is inspired by the concept of three wise monkeys, a symbol widely used in popular culture and politics. Globally renowned figures, such as former US President Bill Clinton, have used this concept when hosting NATO summits.
While the modern version of this symbol is now widely used as an emoji, the Wise Monkey project aims to further amplify its influence. The project has already demonstrated considerable potential and impact with a cumulative market capitalization exceeding $170 million.
At the time of token launch, the Wise Monkey project partnered with other meme projects such as Floki and TokenFi for an airdrop event. It also introduced security features such as mechanisms to prevent panic buying and protect investors from malicious actors in the meme coin space.
Project Brief History
This project was initiated by Forj, a subsidiary of Animoca Brands, known for developing projects such as OpenSea, Axie Infinity, and The Sandbox. Forj has experience collaborating with well-known projects such as Apecoin and Bored Ape Yacht Club.
The project is controlled by Forj, a blockchain company dedicated to innovative solutions. Forj's CEO, Harry Liu, is an experienced blockchain expert.
Under his leadership, Forj focuses on creating unique fan experiences through Web3 technologies, emphasizing community engagement and cultural relevance. Through strategic partnerships and airdrop campaigns, Forj strives to build a thriving community around MONKY.
The project was initially planned to launch in November 2024, but for some reason, the token was not officially released until December 2024.
The team then began building the Wise Monkey community around three principles. The first principle was to build resistance to misinformation, or "no FUD"; the second principle was to foster critical thinking by "ignoring rumors"; and finally, the third principle was to promote responsible communication, or "no hype".
All of this is aimed at transforming MONKY from an ordinary meme coin into a cultural and financial symbol that resonates with its users. The project's vision is to create a sustainable ecosystem, empower community members, and promote collaboration against cryptocurrency misinformation.
Wise Monkey's significant achievements
Although the project has just been launched, it has already achieved some remarkable results in less than a month.
Within 24 hours of its release, MONKY became the number one meme coin on the Binance chain.
The project started with a valuation of $10 million, but its valuation soared to $330 million after its launch.
On its first day of release, the project generated over $120 million in total transactions.
The project has been listed on five major centralized exchanges (Gate.com, Binance, OKX, Kucoin, and MEXC) and permanently listed.
Comparison of Wise Monkey, Floki Inu, and ApeCoin
Source: CoinStats
Compare
In the world of Memecoins, Wise Monkey, Floki Inu, and ApeCoin each bring unique community-oriented goals. Although they are all playful, their goals and underlying philosophies are completely different.
First, Wise Monkey aims to reshape meme culture by promoting the right way of communicating and transparent community engagement.
In contrast, Floki Inu was inspired by Elon Musk's pet dog, Shiba Inu. Its focus is on building a strong community and expanding its ecosystem through projects like NFTs and games.
At the same time, ApeCoin, as a utility token within the Bored Ape Yacht Club ecosystem, empowers users with governance rights and access to exclusive events.
Blockchain
These tokens are based on different blockchains. Wise Monkey recently launched on the Binance Smart Chain (BSC), which is known for its fast transactions and low transaction fees.
Floki Inu operates on both the Ethereum and Binance Smart Chains, leveraging the extensive user base of these networks. ApeCoin, as an ERC-20 token, is built on the Ethereum blockchain, benefiting from its mature infrastructure and vibrant community.
Token Economics
Monky Token Distribution Chart
Token economics plays a crucial role, giving these projects their unique characteristics. Wise Monkey has a total supply of 10 trillion tokens, with 45% allocated to promoting community engagement through airdrops and rewards. This reward distribution encourages early user participation and builds a loyal community.
Specifically, 27% of the MONKY tokens will be airdropped to FLOKI holders, 10% to ApeCoin holders, and 4% to TokenFi holders. Additionally, 4% will be used as rewards for Floki trading bot users. The remaining 55% will be used for providing liquidity, market making, community building, and reserves.
Floki Inu employs a more complex economic model, with multiple tokens within its ecosystem. The FLOKI token is used for governance and utility purposes and implements a deflationary mechanism to increase its value over time.
ApeCoin has a fixed supply of 1 billion tokens, designed to support its governance model and encourage community participation in the project and influence the decision-making process.
Function
Wise Monkey currently lacks many practical features, but plans are in place to gradually develop more use cases as it evolves. Floki Inu offers a variety of features through its ecosystem, including staking rewards and an NFT marketplace, making it more versatile for users.
ApeCoin stands out for its clear utility. As a governance token, it allows holders to influence decisions within the Bored Ape ecosystem and participate in exclusive events.
Advantages and disadvantages of Wise Monkey
Wise Monkey is a unique project, standing out even within the Meme coin community. It aims to build a cultural community based on the "wisdom of monkeys" principle of "not seeing evil, not hearing evil, and not speaking evil," which brings it some advantages but also some disadvantages.
Advantages of Wise Monkey
Cultural Significance: A key feature of Wise Monkey is its inspiration from the proverb "Do not see evil, do not hear evil, do not speak evil." This cultural context adds depth to the project and promotes values such as transparent and responsible communication within the community.
Strong Community Focus: The project is community-driven, with 45.5% of the total supply allocated for airdrops. This strategy encourages early participation and helps build a loyal community base from the outset. A strong community is often a driving force behind the success of Meme coins, giving Wise Monkey a significant advantage.
Backed by prominent partners: With the support of well-known entities such as Ape Accelerator and Floki, Wise Monkey benefits from strategic partnerships that enhance the project's credibility and growth potential. This collaboration and support helps the project gain attention in a competitive market, attracting more investors and users.
Disadvantages of Wise Monkey
Limited use cases at launch: Despite a compelling narrative, Wise Monkey lacks broad practical use cases beyond its role as a meme coin. This may raise concerns about its long-term sustainability, especially compared to other cryptocurrencies that offer more practical functionality.
Market Volatility: Like many Meme coins, MONKY tokens will experience significant price volatility. The speculative nature of Meme coins means that their price will fluctuate wildly based on market sentiment and community hype, which may not be suitable for all investors.
Initially, there is no staking option: Currently, Wise Monkey does not offer a staking option, meaning holders cannot earn passive income through staking or yield farming. This may be a disadvantage for users who wish to earn rewards through staking or yield farming.
What is the MONKY token?
The MONKY token, also known as Wise Monkey, is a newcomer to the meme token market. The project's cultural background and its similarity to the monkey emoji give the token a unique identity.
Since its launch, the price of the MONKY token has been on an upward trend. This can be attributed to its uniqueness or to the bull market cycle at the time of its launch. Currently, the maximum supply of the token is 10 trillion tokens.
Based on its token economics, 10% (1 trillion tokens) is allocated to the foundation, 5% (500 billion tokens) is reserved for the treasury, and another 5% (500 billion tokens) is used for market making. 25% (2.5 trillion tokens) is used to provide liquidity for the project. In addition, 9.5% (950 billion tokens) is used for community development. 35% (3.5 trillion tokens) is allocated to FLOKI holders, 10% (1 trillion tokens) is allocated to ApeCoin holders, and 0.5% (5 billion tokens) is allocated to Grafun holders.
Will the price of MONKY rise even higher?
Launched just on December 12, 2024, the future of the MONKY token has already garnered significant attention. Current forecasts suggest that MONKY may experience substantial growth in the coming years, but like any cryptocurrency, it also comes with uncertainty.
It's important to consider that the cryptocurrency market is known for its high volatility. Factors such as market demand, the success or failure of airdrops, and the overall sentiment in the crypto space can all significantly impact MONKY's price fluctuations.
The upcoming airdrop will distribute a large number of tokens to FLOKI and ApeCoin holders, potentially creating a social validation effect that further fuels interest and demand for the token. MONKY's influence on social media is also likely to increase significantly as these holders share their allocations and rewards.
Is Wise Monkey (MONKY) a worthwhile investment?
Many cryptocurrency enthusiasts are wondering whether Wise Monkey is a worthwhile investment, especially after its recent launch. However, a key advantage of investing in MONKY is its strong community focus and cultural significance.
MONKY also features a reward-based token economy. However, potential investors should carefully consider the inherent volatility associated with Meme coins. While MONKY has performed exceptionally well in the short term, such rapid price fluctuations could also trigger shifts in market sentiment, potentially leading to significant losses.
In addition, as a newly launched token, it lacks a wide range of use cases beyond its speculative asset status, which has raised questions about its long-term sustainability.
How do I obtain MONKY tokens?
You can purchase MONKY on centralized and decentralized cryptocurrency exchanges. For example, you can participate in the MONKY/USDT trading pair offered by Gate.com.
To purchase this token using Gate.com, you need to create a Gate.com account and complete the registration process. Additionally, you will need to deposit funds into your spot trading account and then follow the prompts to purchase MONKY tokens.
