Medusa (medusa.cx)

Halal Rating :
Comfortable
Contract: 0xE34ba9cbdF45c9d5Dcc80E96424337365b6Fe889
Last Price $0.0005 Last updated:
Rank 2714
1D Change 3.06 %
Market Cap $99,928
Circulating supply 200,000,000
Maximum supply 1,000,000,000

Crypto Overview

Categories
  • Ethereum Ecosystem
  • Solana Ecosystem

Overview

Medusa (MEDUSA) is a novel cryptocurrency project built on the Blast L2 network. It positions itself as a decentralized finance (DeFi) protocol that uses a unique elastic supply model. The core premise involves an anti-dump mechanic that imposes high selling fees that are distributed to holders, coupled with a rebase mechanism that periodically adjusts token supply.

Purpose and Utility

The primary stated utility of MEDUSA is to serve as a store of value token with built-in incentives for long-term holding through its tax and rebase mechanisms. The protocol charges a high fee on sales which gets distributed to holders who maintain their positions.

Business Model Evaluation

The core mechanism involves token ownership and trading, with actual transfer of digital assets. While the high sell fees create friction for sellers, the system fundamentally involves real asset exchange rather than zero-sum gambling.

Adoption and Usage

As a recently launched project on Blast L2, adoption metrics are still emerging. The token has seen active trading volume and holder growth in its early phase, indicating market participants are using it as intended for trading and holding.

Development Activity

The project maintains active development and community engagement through their social media channels. The core smart contracts have been deployed and are operational on the Blast network.

Token Distribution

Initial token distribution was conducted through a fair launch mechanism. While exact founder allocation details are not publicly available, the token operates on transparent smart contracts that handle the tax and rebase mechanics.

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