What is OOGI?
OOGI, short for Out Of Gas Initiative, is a meme token built on Solana by the BabyApes development team. The token was originally introduced as the native token of the BabyApes community, which is a collection of NFTs that live on the Solana blockchain network. However, after forming a partnership with Turtle Launchpad, the token has gained additional utility.
The platform aims to offer staking as a key feature of the OOGI token. This feature enables token owners to stake their OOGI coins on exchanges and earn rewards in the form of tokens. Furthermore, the platform plans to allow OOGI token holders to benefit from upcoming Turtle Launchpad projects.
According to the whitepaper, the launchpad plans to allocate 10% of the total presale supply for all of its projects to OOGI coin owners. However, these tokens can only be used for the allocated presale supply. Additionally, the launchpad intends to offer an affordable price with a 50% reduction from the original price. Lastly, the platform plans to burn the tokens used to purchase from the presale supply. This is done to reduce token availability and increase market value.
Regarding tokenomics, the allocation of 25% of the total tokens is for airdrops, which are a marketing method for distributing specific cryptocurrencies. The platform plans to voluntarily offer these tokens to the Solana ecosystem and BabyApes NFT owners. Additionally, 20% of the tokens are for liquidity, allowing for easy conversion of an asset into traditional currency without affecting market prices. 10% of the tokens are allocated for the team, and 15% for marketing. 5% is allocated to partnerships bridging different communities, projects, and organizations. Lastly, 25% is used for staking rewards.
The OOGI whitepaper was published on November 4, 2021, and the total supply of OOGI tokens is 18,038,113,410 OOGI.
In summary, OOGI is a Solana-based meme token that has gained utility beyond the BabyApes community through its partnership with Turtle Launchpad. With staking as a key feature and a distribution of rewards for presale allocations, the platform offers additional incentives for OOGI token holders. The allocation of tokens for airdrops, liquidity, team, marketing, partnerships, and staking rewards aims to ensure the stability and growth of the OOGI ecosystem.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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