Meme Kong v2 is a hyper-deflationary custom contract with 5 burn mechanisms and the flexibility to add more fuel to the fire in the future. It features a dynamic sell tax mechanism designed to hold the floor and build for the future. It also has a one-of-a-kind incentive structure allowing holders to stake their tokens, and then burn rewards to 10x their APY. What’s more, when holders burn tokens to increase APY, $MKONG tokens are simultaneously burned from the liquidity pool, raising the floor and benefiting all holders by further reducing supply. Last but not least, there is an auto burn feature that burns 0.25% of the tokens in the Uniswap liquidity pool every 8 hours.
Initially, taxes will be used to rapidly raise liquidity to restore it to pre-exploit levels. If you’re new to the Meme Kong community and aren’t aware, our previous contract was exploited in May 2023 through malicious code inserted by a developer who is no longer with the team. A third-party forensic audit of the exploit is underway, and we’re happy to answer any questions – Radical Transparency. Exploit aside, we’ve made significant personal sacrifices to raise new liquidity, as well as contract and security enhancements, to ensure Meme Kong is restored to its former glory and equipped to establish itself as a symbol of resilience and innovation – redefining the standard for cryptocurrencies.
The Meme Kong team is fully doxxed and committed to bringing the honesty, integrity, and transparency to DeFi that is so desperately needed. We aren’t going anywhere. The exploit was heart breaking, but the silver lining is that we get the opportunity to show our holders that even the worst possible scenario didn’t stop us. We’re back, and we’re here to stay.