Key takeaways

Michael Saylor’s Strategy continues its Bitcoin buying spree after splashing another $555 million on Bitcoin. The company revealed on Monday that it added 6,556 bitcoin to its balance sheet, spending $555.8 million.

Thanks to this latest acquisition, Strategy now holds 538,200 BTC, purchased at an average price of $67,766 per coin. The company continues to add more bitcoins to its balance sheet despite the recent bearish market conditions. 

While Strategy focuses on growing its dominance in the Bitcoin ecosystem, a new project is looking to merge the memecoin and DeFi ecosystems. CartelFi is the first protocol to monetise memecoins without selling.

This new project wants to unlock the latent value in memecoins. They are launching products that would allow investors to earn yields on their meme holdings without sacrificing their moonshot potential.

In their whitepaper, CartelFi explained that the project’s primary objective is to turn memes into productive capital assets that pay yield to investors. This implies that idle memecoins will become perpetual money machines, merging the degenerate upside with disciplined wealth generation.

CartelFi is the first protocol to merge the DeFi and memecoin ecosystems. Monetizing memes enables users to turn their memecoins into income streams, potentially leading to the massive adoption of the CartelFi protocol. 

The memecoin sector delivers returns of 100x-1000x to investors. Beyond that, investors have zero use for the memecoins, especially for projects with no utility. 

CartelFi is changing this narrative by empowering memecoins to provide income from yields to investors. This will incentivise investors to hold tokens longer.

By holding their tokens longer via staking, CartelFi will ensure memecoin projects don’t die immediately after they are launched. 

The developers explained that CartelFi ensures memecoins have a moonshot potential with active staking opportunities. The project introduces a dual-reward system that lets investors bet on both horses. 

Furthermore, CartelFi executes automatic buybacks and burns, utilising up to 100% of the fees, which creates relentless upward pressure on the token value. In essence, memes earn while CartelFi burns.

The project incentivises users to farm yields on meme coins without selling. These bespoke meme liquidity pools offer degenerate upside, allowing them to earn excellent APYs. 

CartelFi uses up to 100% of platform revenue to buy back the CARTFI token. The team explained that assets on its platform will be actively generating revenue and will use part of the funds to increase the scarcity of the CARTFI token. Every token burned reduces the total supply of CARTFI. 

The CartelFi presale began two weeks ago, and the project has already raised over $1 million. A new presale stage kicked in a few minutes ago, with $CARTFI’s price increased to $0.0352 in this new stage. 

It is the world’s first protocol that empowers investors to earn excellent yields on their meme coins while keeping 100% exposure to their upside. The project offers a unique value proposition and could be one of the top performers in the broader crypto market once it launches on exchanges.

Before listing on exchanges, investors can purchase the $CARTFI token using ETH, USDT, USDC, BNB, SOL, and the US Dollar. 

Visit the CartelFi website to find out more about the presale.

The post Strategy’s Bitcoin stash hits 538,200 as CartelFi’s presale surpasses $1m in two weeks appeared first on CoinJournal.

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