What Is Proof of Memes (POM)?

Proof of Memes (POM) is a newly-launched crypto project focused on providing developers with a framework for launching meme coins of different types.

The Proof of Memes blockchain is a mineable, Proof of Work (PoW) blockchain fork of Ethereum (ETH). POM is a Layer 1 network, which means it has its own blockchain architecture and isn’t built as a token on top of some other blockchain, although it uses Ethereum-based technology.

POM is an Ethereum Virtual Machine (EVM)-compatible blockchain network, meaning it can interact with blockchains such as Ethereum, Binance Chain, and other EVM networks. 

The ultimate goal of Proof of Memes is to become the go-to blockchain for meme coins and everything that has to do with blockchain meme culture.

How Proof of Memes Works

Proof of Memes is a fully autonomous blockchain that provides developers with programming tools for launching meme coin projects. These developer tools are based on the Ethereum Virtual Machine and allow developers to utilize the POM infrastructure for launching their products, such as decentralized apps (dApps), NFT marketplaces, or crypto games based on memes. 

Proof of Memes has buyer safety as one of its top priorities, which is why the project goes through regular third-party security audits and audits of all projects to be launched on the POM blockchain.

The Proof of Memes meme coin launchpad will include a mandatory Know Your Customer (KYC) protocol to prevent fraudulent behavior.

What Is Proof of Memes (POM) Used For?

The main use case of the Proof of Memes blockchain is to provide developers with a programming environment for launching meme coin projects. These projects can be focused on different meme coin utilities, such as NFT marketplaces, crypto gaming, or meme coins used for facilitating payments. 

POM already has a whole suite of functions as part of the Proof of Memes ecosystem. The Memescan blockchain explorer is an essential tool for tracking transactions on the POM blockchain. This explorer will also be used to track transfers on meme coin projects that use the POM infrastructure. 

NFTs are an essential element of the Proof of Memes ecosystem. Users already have a 490-piece POM NFT collection called LaunchPack available for sale through OpenSea. These NFTs grant a 20% POM launchpad discount to holders and therefore represent a valuable investment for developers looking to launch their meme coin project on POM. 

POM also has a decentralized exchange platform called PomSwap in the making, allowing users to easily exchange meme coins built on POM for one another and for POM coins. 

Where to Buy Proof of Memes (POM)?

Since POM is a brand new project that has just entered the market, there’s only one place you can buy it. The MEXC Global centralized crypto exchange is the only market where users can invest fiat currency in POM. 

To do so, investors first need to buy Tether (USDT) on MEXC with fiat currency or with another cryptocurrency and then swap it for POM coins because exposure to POM is only available through a USDT/POM trading pair.

How Long Has Proof of Memes (POM) Been Around? 

The Proof of Memes blockchain officially started operating on November 10, 2022.

What’s Controversial About Proof of Memes (POM)?

The POM developers managed to deliver considerable parts of their roadmap, so there aren’t any controversies surrounding the projects. It will be interesting to see whether the POM blockchain will take off in popularity and attract meme coin developers. 

The POM developers are anonymous, which might be suspicious to some users, but it doesn’t have to be controversial because there are numerous high-quality cryptocurrencies with anonymous developer teams behind them.

How Many POM Coins Are There?

There isn’t any available data regarding the circulating supply of POM coins. However, the developers have revealed that the maximum supply of POM will be 1 billion coins. 

Can POM Be Mined?

Since POM is a Proof-of-Work (PoW) fork of Ethereum, it can be mined with GPU mining rigs or ASIC miner machines. Users can mine POM through the network’s official mining partner, the WoolyPooly mining pool provider. 

Market Cap and Price History of Proof of Memes (POM)

According to the POM page on CoinMarketCap, there’s no available data on the actual market cap of POM, but the fully diluted market cap is somewhere below 200 million USD.

It’s important to note that the fully diluted market cap is just a theoretical projection of the project’s market cap in case the coin’s maximum supply is circulating on the market at the coin’s current price.

As far as the POM price history, the coin’s price was 0.22 USD at the time of the project’s launch, and it reached an all-time high of 0.34 USD at one point. The coin is currently priced between 0.16 USD and 0.21 USD per coin. 

Biggest Competitors of Proof of Memes (POM)

The biggest competitors of Proof of Memes are the two leading global meme coins, Dogecoin (DOGE) and Shiba Inu (SHIB). Dogecoin is the largest electronic cash meme coin on the market and one of the overall top-ranking cryptocurrencies.

On the other hand, SHIB is an extremely fast-growing meme coin ecosystem with dApp building capabilities, smart contracts, and DeFi features, thanks to the fact that it’s an ERC-20 token built on Ethereum. 

POM will have a hard time competing with these two meme coin giants.

What Does the Proof of Memes (POM) Project Road Map Look Like?

The Proof of Memes project is currently in its second phase, called the Growth stage. During this stage the POM team already launched the POM blockchain explorer, got the first listing of the coin on a centralized exchange, and went live with the POM mainnet.

The next stage is the Stable phase, during which the team will distribute POM airdrops to numerous Ethereum holders. At the same time, the PomSwap DEX will start operating and providing users with crypto trading functionalities as well as a liquidity pool. The team also plans another listing on a top-tier crypto exchange during this phase of the roadmap.

The final phase is the Expansion stage, during which the POM token launchpad will start operating, and we’ll see the first launch of POM-based cryptocurrencies. The team also plans to launch several high-profile partnerships during this phase. 

Pros and Cons of Proof of Memes (POM)

Pros

• Innovative concept for launching meme coin projects.
• Security is a high priority.
• The project has its own NFT collection.
• Decentralized exchange in the making.
• Blockchain explorer.
• The team has delivered on its promises so far.
• Users can mine POM.

Cons

• The developers are anonymous.
• Only available on one exchange platform.