Abstract: Attempt to analyze a Meme airdrop token on Zksync using a research framework, betting on the expectation of centralized exchanges in CEX, non-value fundamental investment.
I received the free tokens before the airdrop ended on May 17th and waited to see the situation when it was listed on CEX. Regardless of whether I made a profit or loss, I sold them on the same day they were listed on the centralized exchange CEX.
I. Basic Information#
Currency Introduction: zkape coin (ZAT)
Establishment Date: Around November 2022
Classification: Meme & Project Token
Total Supply: ZAT Total Supply: 68.9 trillion
Actual $ZAT Circulating Supply: 38.9 trillion
Current Market Cap/Circulating Market Cap: $23 million/$13.3 million
II. Economic Model#
ICO Price:
Distribution Method: 70% airdropped to the community, those not claimed on May 17th will be burned. 5% for DAO governance, 5% for market expenses
Incentive Method: Staking mining, NFT empowerment, etc.
- Stake #zkApes #NFTs and earn ZAT tokens
- Lend zkApes NFTs to earn ZAT tokens
- Purchase #dNFTs with ZAT tokens
- ZAT token community governance
Token Lock-up: 20% of the total token supply, i.e., 200 trillion team tokens locked for 1 year
III. Trading Information#
Issue Date:
Listing Date: Official announcement says before May 31st
Number of Exchanges: Expected to be 2-3 CEX, with expectations of OKX listing
Trading Activity (Exchange Transactions/On-chain Transactions): Airdrop was announced on May 10th, and there were trading records for 600,000 addresses on May 17th
Market Performance: Already listed on CoinMarketCap and CoinGecko
Distribution of Holdings: SyncSwap pool has 408 billion, approximately $110,000, izumi pool has around 170,000.
IV. Project Background#
Project Technological Innovation: Trading data on Zksync is at the forefront, but the actual project lacks innovation.
Last year, zkAPEs: 9999 unique and rare APEs. ♻️
ApeX: First #NFTs DEX(AMM)
🌐 Apescan: The NFT Explorer of zkSync
Project Roadmap:
Few Github submissions
V. Team Financial Strength#
Funding Situation
Institutional Investment
Buyback and Burn
VI. Community Base#
Twitter: 150,000 followers
WeChat:
Telegram Group:
Discord: 130,000 with around 10,000 online
Youtube: Over 70 views per episode
VII. Media Exposure#
Number and Quality of Media Reports: None, hardly any Chinese research reports
Professional Institutions and Research Reports: None
Presence of Negative Public Opinion
VIII. Overall Project Evaluation#
Project Advantages: Fast deployment on ZKsync, strong execution capability, strong marketing strategies.
zkApe is the first NFT project launched on Mint Square.
There are many future plans and roadmaps.
Project Shortcomings: Overall NFT design and aesthetics are far behind BYAC's artwork.
Overall Evaluation:
Purely trade as a Meme coin.
Choose the day of listing on CEX for trading and sell to secure profits.
Expected before May 31st.
IX. Contrary Viewpoints#
It is possible that the project team will cash out and run early, and most of the airdrops have already been claimed by internal team members, so it may not be listed on CEX.
However, considering the amount of work the project team has done in the early stages, it is highly likely that they will communicate with the exchanges, cash out a portion on CEX, and then hand it over to the community.
X. Fund Allocation#
If it can be listed on a centralized exchange, the confidence interval for trading is above average.
There is a high probability of a 50% increase, allocating $200 to take a small gamble.
XI. Trading Results#
On May 30th, at 10 PM Beijing time, ZKape tokens were indeed listed on Gate.io's launchpad and were listed on a centralized exchange.
There was almost no price increase at the opening, and the price continued to decline, falling from around 0.000002. Seeing this, at around 0.0000017, I had to convert all the ZAT tokens I had into ETH. I exited with a loss of around 50%, losing $100, a painful lesson.
The strategy of relying on centralized exchanges for Meme coins failed.
The last time I made a big profit from a Meme coin was due to the overall market environment, but this time, trying to replicate the same approach resulted in a facepalm.