In September 2021, Coinbase, the largest U.S. crypto-asset exchange, listed SHIB on its platform, meaning that almost all the world’s mainstream crypto platforms had embraced Meme coin, which had been the benchmark for DOGE. The move has also made the Meme concept a hot topic again, driving up SHIB’s total market value tenfold in just one month. SHIB is currently ranked 9th in the crypto market with a market value of $38.4bn, edging out DOGE at 10th with a market value of $35.7bn.
Both SHIB and DOGE originally belonged to the Meme concept, and the competition between them has been established since the birth of SHIB. Faced with the continued rise in SHIB heat, Binance, the world’s largest crypto-asset exchange, launched SHIB/GODE trading pairs, preferring to guide DOGE investors to switch to SHIB. No wonder the next day, Elon Musk, the biggest KOL in the DOGE community and Tesla CEO, quoted an ancient Chinese poem to express his frustration at the internal rivalry.
But don’t forget another old Chinese saying: “Two dogs strive for a bone, and a third runs away with it.” Also originated from the concept of Meme, YooShi has grown into a blockchain game metaverse integrating NFT, GameFi incubator and P2E guild alliance. Driven by both Meme and metaverse, YooShi is gaining popularity among a growing number of crypto asset enthusiasts and institutions around the world.
In the past week alone, YOOSHI’s coin holding address has increased by 58,460; MEXC, Gate. IO and other large trading platforms launched YOOSHI trading pairs; YOOSHI has ranked no.1 on CoinGecko’s hot search list for several consecutive days… Such high market heat will naturally affect the market price of YOOSHI, making YOOSHI the best performing crypto asset in the past month.
On November 2nd YOOSHI was valued at more than $1.3 billion, making it one of the top 100 global crypto asset market values. But interestingly, the only Meme coins that reached the top 100 by market value before were DOGE and SHIB. Look back how many animal-based memes were spawned in the great mass fervour of Meme in May 2021, however, only a few months later, most of them disappeared. But why does YooShi stand out and remain so hot? Perhaps we can analyze from the two aspects of economic model and ecological construction.
Internal and external circulation of YOOSHI economic model
YooShi is a completely community-driven decentralized project, and as the token of the YooShi metaverse, the total quantity is fixed at 1 quadrillion, with no team allocation and no pre-sale. YooShi has carefully and reasonably designed its own economic model, so that the future eco-business can become the value support of YooShi, rather than simple and crude like SHIB and DOGE.
Due to the complexity of YooShi’s economic model, YooShi community held an AMA on the economic model on October 30, which sorted the YooShi economic model into three systems: bottom, product and ecological systems.
1．Bottom economic system
The bottom economic system mainly involves the burn of transaction fees and the coin holding addresses after reaching the target. About transaction fees: every YOOSHI transaction on DEX will be charged a 10% transaction fee which is not given to the project party, but 4% is distributed to all addresses according to the proportion of positions held as the interest of currency holding; 3% as capital into NFT stake pool; the remaining 3% is injected into flowing pool to increase the depth of trading.
About the burn of the coin holding addresses after reaching the target: YooShi’s target is to burn 10% of the total number of tokens, while 8% has been burned in the previous four burns. For the last 2%, YooShi adjusted the process based on the intention of the community and divided the one-time burn into four sub-targets. When the YOOSHI coin holding address reaches 350,000, 400,000, 450,000 and 500,000, 0.5% of the total YOOSHI will be burned every time reaching the target. Because these 10% of YOOSHI have been locked in advance in a fixed address which has been enjoying the “coin holding dividend”, but this part of the coin holding dividend will be burned in the last burn.
The number of YOOSHI coin holding addresses has reached 340,000. According to the current market popularity of YOOSHI, the following burn target will be reached soon.
- Product economic system
The product layer mainly involves the expenses generated by YooShi’s own products in economic activities. YooShi will auction the YooShi Family NFT in the market, and all BNB assets acquired will be converted into YooShi, 40% of which will be injected into the NFT pool as a prize pool, and 50% will be burned directly. In the future, 29,188 YooShi Family NFTS will be put on the market through auction, and half of the proceeds will be used for YooShi buy-back and burn. Users will also be charged a certain service fee for the transaction and auction of YooShi Family NFT in the market/auction, and 50% of the service fee will be burned and repurchased by YooShi, which is an absolutely significant and consistent figure.
- Ecological economic system
The ecological layer mainly involves blockchain game projects incubated by YooShi GamePad, including: 50% of 10% of the sale amount of blockchain game Genesis NFT will be used to repurchase TOOSHI and burned, and 40% will be put into the mining pool; Genesis NFT’s market/auction platform will also automatically implement in accordance with the service fee standard and distribution principle of YooShi Family NFT; also, in the exchange market of these blockchain games, only BNB payment is accepted, and 4.5% of each transaction will be charged as service fee, 1.5% of which will also be injected back into YooShi economy as YooShi agreement maintenance fee, of which 50% will also be used for YooShi buyback and burn.
If the bottom and the product economic systems constitute the inner cycle of YooShi’s economic model, then the ecological economic system can be regarded as the addition of outer cycle, further strengthening the robustness of YooShi’s economic model!
From the bottom to the product layer to the ecological layer, we can find that there are a lot of YOOSHI buy-backs and burns, which is also a strong driving force for YOOSHI price increases. So what about the burn situation of YOOSHI?
So far, 612 trillion black hole addresses have been burned in YOOSHI, accounting for more than 61.2% of the total. By comparing the amount of YOOSHI burned accounts from October 29 to October 30, it was calculated that the number of YOOSHI burned accounts in a single day reached 59.7 billion, which is worth more than $200,000 at current prices. That is equal to an extra $200,000 buy order per day, which will never be sold! Note that this data does not include the number of burn under special circumstances such as the target reaching of the coin holding address.
The amount of burn has been impressive for YOOSHI, which has just entered the world’s top 100 by market value. But YooShi is positioned as a blockchain metaverse, and the ecological layer of its economic model is just beginning to gain traction.
How is the YooShi blockchain game metaverse ecological progress?
Game is the best match for the concept of the metaverse, and YooShi is moving toward the blockchain game metaverse.
YooShi’s GamePad incubator has been very successful. Both its first blockchain game DNAxCAT digital Cat Pet World launched in August and the 3D Play to Earn blockchain game StarMon launched in early September have achieved conspicuous market performance, allowing early players to realize substantial benefits through Genesis NFT, NFT mining and liquidity mining before the game is online.
YooShi GamePad is also very strict in its quality review of the blockchain games, which protects the interests of participants on the one hand, and the high-quality game production and wealth effect also attract a large number of participants to YooShi Ecology. DNAxCAT is currently undergoing a two-week elite testing, the next stage is the official launch of the game, and StarMon is about to launch a beta version. Beforehand, YooShi has established the P2E Guild Alliance with a number of leader blockchain game associations around the world, in preparation for the official launch of blockchain games incubated by GamePad.
Probably the most exciting news for YooShi eco-participants was a Tweet posted on YooShi’s official Twitter on November 1st. In addition to the charts of DNAxCAT and StarMon, there are two black icons at the back of the picture, which seems to indicate that YooShi GamePad is planning to release its third and fourth online games!
The concept of metaverse has become a trend in the field of internet science and technology, but only the metaverse constructed by blockchain and token economy can truly become the second space for people to socialize, entertain and work. It can be predicted that there will be more and more blockchain game projects in YooShi ecology in the future, and the YooShi ecological economic model will also provide increasingly powerful impetus for the growth of YooShi value.
Finally, DOGE and SHIB are among the top 10 crypto assets in the world by market value, with a market value of over $35 billion. Compared with the doddering DOGE, SHIB is at wit’s end except community marketing, while YooShi is booming and in the cusp of the times, with a market value of just over $1 billion, and there is at least dozens of times more room to rise into the top 10 of global crypto asset market value. Which project token you should choose to obtain more profits, the answer is obvious.