اقتصاد توکنی Pepe (PEPE)

The Pepe (PEPE) token is a meme cryptocurrency designed primarily for entertainment and memetic value, operating with a focus on simplicity, zero transaction taxes, and a community-driven approach. It was launched in stealth mode by anonymous creators on April 17, 2023, without a presale.

Issuance Mechanism

The PEPE token operates on the Ethereum blockchain as an ERC-20 token, and has also been bridged to BNB Smart Chain (BEP-20) and Arbitrum (ArbERC-20).

• Total Supply: The maximum and total token supply of PEPE is fixed at 420.69 trillion tokens.
• Inflation/Deflation: The project implements a token-burning mechanism intended to boost its value through a deflationary process, ensuring the scarcity of PEPE coins in the market.
• Taxes: The token promises zero taxes on transactions, aiming to attract a wider audience by not imposing transaction fees.

Allocation Mechanism

The initial allocation of the maximum token supply was distributed into two main pools:

• Team Allocation: The project was launched without a presale, and the initial team did not allocate a share of tokens to themselves. However, a portion of the supply was later transferred to a multi-sig wallet controlled by eight signers. Notably, approximately 26.74 trillion PEPE tokens (6.36% of the total supply) were transferred to this multi-sig wallet on May 4, 2023.
• Liquidity Provision: The liquidity provision tokens were reportedly burned, and contract ownership was renounced.

Usage and Incentive Mechanism

As a meme coin, PEPE's utility is minimal and primarily focused on community engagement and speculation.

Usage

• Primary Function: PEPE's main function is as a purely memetic digital asset for entertainment and community participation.
• Past Utility: The ERC-20 PEPE token previously served one project-specific function: providing Discord access to the "Pepe Palace Discord server" for tokenholders with at least one PEPE. However, as of December 15, 2024, this server has been discontinued, and this utility is no longer active.
• Acquisition: Users typically acquire PEPE through purchases on centralized exchanges (e.g., Binance, Coinbase, OKX, KuCoin) or decentralized exchanges (e.g., Uniswap, PancakeSwap).

Incentives

• Redistribution: The token features a redistribution system that is described as benefiting long-term holders ("HODLers"), offering higher incentives to those who hold the token for extended periods. This mechanism is intended to ensure the long-term success of the project.
• Compensation: As of December 15, 2024, there are no known methods for users or tokenholders to earn fees, additional tokens, or any form of compensation (such as dividends, interest, or liquidity rewards) by interacting with the network or simply holding the token.
• Rights: PEPE does not confer any claims on capital, voting rights, share of profits, or other legal or publicly claimed rights in any centralized entity.

Locking Mechanism and Unlocking Time

Locking Mechanism

The token economics of PEPE do not feature a formal, ongoing locking or staking mechanism for users to earn rewards. The primary locking mechanism observed relates to the initial distribution and security measures:

• Liquidity Pool: 93.1% of the supply was initially sent to a Uniswap liquidity pool, with the liquidity provision tokens burned.
• Blacklisting: The project implemented a blacklisting mechanism. One address that purchased approximately 2.52 trillion PEPE (0.60% of the total supply) shortly after launch was blacklisted approximately eight minutes later. The token contract was renounced after this blacklisting, meaning the address can never be removed from the blacklist.

Unlocking Time

The vast majority of the PEPE supply is already unlocked and in circulation.

• Unlocked Supply: As of December 15, 2024, approximately 420.56 trillion ERC-20 PEPE remains unlocked on Ethereum, representing about 99.97% of the total token supply.
• Future Unlocks: Information regarding specific, scheduled future token unlocks for the PEPE asset was not available. The initial allocation of 6.9% held in the multi-sig wallet was designated for future centralized exchange listings, bridges, and liquidity pools, suggesting these tokens would be released as needed for these purposes, but no formal unlock schedule was provided.

Supply Concentration

Despite the renounced contract and community focus, there is notable concentration among the largest holders:

• The top 10 addresses holding ERC-20 PEPE on Ethereum control a combined ~172.70 trillion tokens, which is approximately 41.05% of the total token supply.
• Five of these addresses individually control over 2.00% of the total supply, with major centralized exchange wallets accounting for a significant portion of this concentration. For instance, "Binance: Hot Wallet 20" holds approximately 14.26% of the total supply.