Kanye West drops YZY meme coin on Solana

Key Takeaways

Kanye West launched the YZY meme coin and fee ecosystem on Solana.
YZY token presents anti-sniping options, vesting through Jupiter Lock, and is tradable on Meteora.

Kanye West, now generally known as Ye Ye, formally launched YZY, a brand new crypto token on the Solana blockchain, becoming a member of celebrities who’ve beforehand ventured into digital property with combined success, the rapper mogul introduced late Wednesday on X, sharing a self-filmed video confirming the launch.

The YZY token briefly hit a $3 billion market worth following Ye’s announcement, GeckoTerminal information reveals.

Ye additionally revealed plans for a fee ecosystem known as YZY Cash.

The challenge contains YZY token, Ye Pay fee processor, and YZY Card for spending digital property. The token operates with a complete provide distributed throughout public allocation (20%), liquidity (10%), and vested tranches for Yeezy Investments LLC (70%).

The system employs an anti-sniping mechanism that deployed 25 contract addresses, with just one chosen because the official YZY token.

“This dissuades snipers by making it a 1/25 likelihood for collection of the suitable CA, placing energy again into the arms of actual merchants,” in response to the challenge documentation.

YZY Cash is described as “an idea for a brand new monetary system, constructed on crypto rails,” whereas Ye Pay goals to cut back service provider charges by “accepting bank card and crypto.” The YZY Card will allow customers to spend YZY and USDC globally.

The token’s vesting schedule makes use of Jupiter Lock, an open-sourced and audited protocol, with three tranches that includes completely different cliff durations and 24-month vesting phrases. Buying and selling is on the market by way of Meteora on Solana, with the official liquidity pool deal with revealed.

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