In the crypto world, many projects have been created as a joke. Since the Bitcoin blockchain is open source, anyone could use it to create whatever project they liked. Many joke projects do not make any money. If nothing, they are usually a way for coders and software engineers to pass the time. However, some have gone on to become quite valuable.
One is Dogecoin, created by Bill Marcus and Jackson Palmer, two software engineers, in 2013. They branded their project with the logo of a popular meme of a dog. That is how their project was born.
The goal was to poke fun at Bitcoin. However, a community of supporters coalesced around the coin, making it somewhat valuable. With time, a community emerged on Reddit, which sent its value skyrocketing. Billionaire Elon Musk got in on the trend, which sent prices to the moon. At one point, Dogecoin’s market cap was $80 billion.
However, Dogecoin has a few flaws. For one, millions of Doge are minted daily. The reason for this is that Dogecoin has no maximum supply. As such, the price of Doge will inevitably fall back close to zero over time.
Another project is Shiba Inu, which was built as an alternative to Doge. While it does attempt to have some use cases, at its core, it is a meme coin. There is a supply of 1 quadrillion coins, which makes each SHIB practically worthless. One needs millions of SHIB to be worth anything. At one point, SHIB tokens had become quite popular and had a market cap of over $30 billion.
Lack of Real Use Case
Since SHIB and DOGE lack any actual use case, they may not survive long term. Eventually, another project with a better gimmick will overthrow them. The community will not have the incentive to continue being part of these two meme coins over time. For a project to have value long-term, it needs to show users some meaningful use cases.
Oryen Network- A Project with Utility
Oryen Network is showing that real passion is what drives real utility. While Doge and SHIB creators claim to have passion, their actions show they did it as a joke. Today, one of the proposed use cases for Oryen Network is staking.
Holders of ORY can stake them and earn a fixed APY of 90%. Additionally, ORY token holders will benefit from the fastest rebase rewards payouts at 60 minutes, compared to the expected 8 hours.
Various metrics show that the Oryen Network developers have a real passion for it. They care about their community and their project. It is the reason they have put so much effort into creating a meaningful project. Power investor Steven Clarke has picked up on this too.
Thus far, their efforts have been rewarded well. The ORY tokens have seen their value grow by 200% in just a short time, despite still being in the presale phase. The presale tokens are unvested and already set to produce a more than 2X return from now before the launch at $0.35 takes place.
Final Thoughts
For those who need a meaningful DeFi project in which they can invest, Oryen Network is perfect. The project is the work of passionate developers who believe in creating an ecosystem that adds value to everyone involved. Get yourself some $ORY tokens to be part of a truly revolutionary project.
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