Cheems Inu (old): A One-Stop Platform for Meme Coin Developers and Investors

What is Cheems Inu (old)

Friends, imagine what it would be like if those funny memes we see all over the internet could be combined with cryptocurrency. Cheems Inu (old) (abbreviated as CINU) is a blockchain project born from this idea. Launched in 2021, it was initially created as a cryptocurrency inspired by the popular Cheems meme, aiming to merge internet humor with blockchain technology.

You can think of it as a “one-stop shop” or “central hub” built for meme coin enthusiasts and developers. Its main goal is to provide a platform where people can find information about various meme-related tokens, help new investors learn about these projects, and allow developers to showcase and promote their meme coins.

In short, Cheems Inu (old) hopes to build a vibrant community by combining the fun of meme culture with the advantages of decentralized finance (DeFi), so that everyone can enjoy meme culture while participating in the world of cryptocurrency.

Project Vision and Value Proposition

The core vision of Cheems Inu (old) is to become a “one-stop service center” for all meme token developers and investors on the blockchain. It aims to solve the current problems of fragmented information and lack of a unified platform in the meme token market, providing professional tools and services for this niche sector.

Its value proposition is mainly reflected in several aspects:

• Connecting Memes and Cryptocurrency: It is committed to combining the widely popular meme culture of the internet with the world of cryptocurrency, attracting a broader audience.
• Dedicated Platform for Meme Coins: By developing platforms like Meme Tools and Meme.Tech, Cheems Inu (old) provides a dedicated space for meme tokens that integrates information display, chart analysis, and project promotion. This is like creating a “search engine” and “billboard” tailored for meme coins.
• Community Driven: The project emphasizes community participation, allowing users to take part in governance decisions and vote on project development.

Unlike many other cryptocurrencies, Cheems Inu (old) stands out for its focus on meme culture and community-driven approach, rewarding holders through a deflationary tokenomics model and even supporting charitable initiatives.

Technical Features

Cheems Inu (old) mainly operates on the Ethereum blockchain, but it has also expanded to the Binance Smart Chain (BSC).

• Blockchain Platforms:
  • Ethereum: This is a very popular blockchain platform that supports smart contracts (self-executing code for protocols), and many decentralized applications (DApps) run on it.
  • Binance Smart Chain (BSC): This is a blockchain launched by Binance, designed to offer faster transaction speeds and lower fees. It uses the Proof-of-Stake Authority (PoSA) consensus mechanism, which is a variant of Proof-of-Stake.
• Meme Tools Platform: This is the core tool of the Cheems Inu (old) ecosystem, designed to provide information and analytics services for meme tokens. Developers can list their projects here and use ad slots for promotion.
• CPAD: This is a presale service decentralized application (DApp) that helps new meme token projects conduct token sales before launch.
• Metaverse Plan: The project also plans to launch a metaverse called “New Block City,” aiming to combine real-world concepts with blockchain technology. The metaverse can be understood as a virtual, immersive digital world where users can interact, play games, and own digital assets.

Tokenomics

The token of Cheems Inu (old) is CINU. Its tokenomics design includes several features:

• Token Symbol: CINU
• Issuing Chains: Ethereum and Binance Smart Chain (BEP-20)
• Total Supply and Issuance Mechanism: There are significant discrepancies in reported total supply figures for CINU, which is something to pay special attention to in crypto projects.
  • Some sources state the total supply is 9,007,199,254,740,991.
  • Other sources mention the whitepaper lists the total supply as 6 sextillion (i.e., 6,000,000,000,000,000,000,000).
  • Still others state the total supply is 1,000,000,000 or 13.71B (i.e., 13,710,000,000).

  This huge discrepancy may be due to project updates, supply on different chains, or accuracy issues in information sources.

• Deflationary Tokenomics: CINU is designed as a deflationary token. This means that over time, the total supply of tokens will decrease, theoretically increasing the value of the remaining tokens. The burn mechanism is usually triggered by transaction taxes or specific operations.
• Transaction Tax: On Binance Smart Chain, CINU charges a 10% tax on buy transactions and a 15% tax on sell transactions. These taxes are evenly distributed between the liquidity pool and marketing.
• Token Utility:
  • Payment of Fees: Meme coin developers can use CINU to pay for project listings and advertising on the Meme Tools platform.
  • Governance: Holders can participate in project governance decisions and voting.
  • Staking: Can be staked to earn rewards.
  • DeFi Applications: Usable for payments in various decentralized finance (DeFi) applications.
  • NFT Integration: The token and NFTs (non-fungible tokens) will be integrated into cross-chain metaverse games.
• Distribution and Unlocking: Specific details on token distribution and unlocking schedules are not detailed in the available information.

Team, Governance, and Funding

• Team: The development team of Cheems Inu (old) is anonymous, which is common in the meme coin space. There is information indicating that a person named “Inked Up Crypto” was one of the founders and was mentioned as having some controversial actions in previous projects, such as using bots to inflate numbers and failing to deliver on promises.
• Governance: The project aims to be community-driven, allowing CINU token holders to participate in governance decisions and vote on project development. This is usually implemented through a decentralized autonomous organization (DAO), allowing community members to vote on proposals.
• Funding: Part of the transaction tax is used for marketing, which can be seen as a source of funding for project operations and promotion. Detailed information about the treasury and runway is rarely mentioned in public sources.

Roadmap

According to available information, the roadmap of Cheems Inu (old) mainly revolves around the development of its platform and metaverse:

• 2021:
  • Project launch as a cryptocurrency inspired by the Cheems meme.
  • Cheems Inu platform and whitepaper released in November 2021.
  • Early attention gained through social media marketing and listings on decentralized exchanges.
• Features Implemented or in Development:
  • Meme.Tech: A token listing and charting website.
  • CPAD: A presale service DApp.
• Future Plans:
  • New Block City: Plans to launch an innovative metaverse combining real-world concepts with blockchain technology.
  • Cross-chain Metaverse Game: Tokens and NFTs will be integrated into a cross-chain metaverse game similar to Grand Theft Auto or Monopoly.

Common Risk Warnings

Investing in any cryptocurrency comes with risks, and Cheems Inu (old) is no exception. Here are some common risks to be aware of:

• High Market Volatility: Meme coins are typically extremely volatile, with prices that can rise or fall dramatically in a short period. This means your investment could quickly lose value.
• Lack of Transparency: The team is anonymous, and there are discrepancies in core data such as total token supply, increasing project uncertainty.
• Technical and Security Risks:
  • Smart Contract Risks: Smart contracts may have vulnerabilities that could lead to asset loss.
  • Centralization Risks: Some analyses point out that Cheems Inu (old)'s smart contract allows the team to change transaction taxes, exclude specific wallets, disable trading, or even remove liquidity under certain circumstances. This centralized control could pose potential abuse risks.
• Economic Risks:
  • Liquidity Risks: If trading volume is insufficient, you may have difficulty buying or selling tokens at your desired price.
  • “Old” Version Risks: The “(old)” in the project name may indicate the existence of a “new” version (for example, KuCoin mentions “Cheems Inu [NEW]”), which could cause user confusion and affect the value and attention of the “old” version.
• Compliance and Operational Risks:
  • Regulatory Uncertainty: Global cryptocurrency regulation is still evolving, and future policy changes could impact the project.
  • Project Sustainability: The anonymous team and the nature of meme coins may lead to uncertainty in the project's long-term development. There are comments mentioning that the founder has a history of failing to deliver on promises.

Please remember, the above information is for reference only and does not constitute any investment advice. Be sure to conduct your own in-depth research (DYOR) and assess your personal risk tolerance before making any investment decisions.

Verification Checklist

When researching any blockchain project, here are some key pieces of information you can verify yourself:

• Block Explorer Contract Addresses:
  • Ethereum Contract Address: 0xAc8cC32Fab2368a1A095722AAf760C45f578E17B
  • Binance Smart Chain (BSC) Contract Address: 0xdFE6891ce8E5a5c7Cf54fFdE406A6C2C54145F71 (Note: There is also an address on BscScan, 0x842defb3...d3d0fcc34, which may require further confirmation as to which is the main or latest one)

  With these addresses, you can view token transaction records, holder distribution, and contract code on the corresponding block explorers (such as Etherscan or BscScan).

• GitHub Activity: Check whether the project has a public GitHub repository (official sources mention github.com), and look at code update frequency, number of contributors, and community code review, which can reflect development activity.
• Official Website: cheemsinu.net
• Whitepaper: Try to find and carefully read the official whitepaper to understand the project's detailed plans and technical details.
• Community Activity: Follow its social media (such as Reddit, Telegram, Twitter, etc.) to gauge community discussion and project updates.
• Audit Reports: Check whether the project has undergone third-party security audits. Audit reports can reveal potential vulnerabilities in smart contracts. Some sources mention the project applied for a Certik audit and received a security score of 82.

Project Summary

Cheems Inu (old) is a meme coin project born in 2021 that attempts to combine popular internet meme culture with blockchain technology, aiming to create a “one-stop” central platform for the meme token sector. Through tools like Meme Tools, Meme.Tech, and CPAD, it provides meme coin developers with project showcasing, chart analysis, and presale services, and plans to enter the metaverse in the future.

The project token CINU operates on Ethereum and Binance Smart Chain, adopts a deflationary model, and uses transaction taxes to support liquidity and marketing. Holders can participate in community governance.

However, as a meme coin, Cheems Inu (old) also faces some inherent risks. Its anonymous team, inconsistent information about total token supply, and potential centralization risks in the smart contract are all factors investors need to be wary of. In addition, the meme coin market itself is known for high volatility, and the “(old)” in the project name may imply uncertainty due to version iteration.

Overall, Cheems Inu (old) is a project with a unique community culture and specific market positioning, but its high-risk characteristics and information transparency issues should not be overlooked. For anyone interested in this project, it is strongly recommended to conduct comprehensive independent research and fully understand the risks involved. This is not investment advice.

For more details, please research on your own.