Blog Redeployment of Inuko LP Funds and Kickstarting IRONBALL.xyz

Redeployment of Inuko LP Funds and Kickstarting IRONBALL.xyz

Announcement

January 24, 2025

Redeployment of Inuko LP Funds and Kickstarting IRONBALL.xyz

The cryptocurrency market's speculative nature often leads to fleeting attention spans, particularly within the meme coin segment. Inuko, which initially garnered interest as a meme coin, has experienced stagnation in its price due to a loss of interest among speculative traders. This lack of activity, coupled with the emergence of new meme coin projects, has further diverted attention from Inuko. Consequently, funds locked in the Inuko-USDT liquidity pool (LP) have become dormant, failing to generate any meaningful income.

Strategic Redeployment of Inuko LP Funds

To address this inactivity, we have removed 99% of the Inuko-USDT LP funds for redeployment. This decision was made to unlock the potential of these funds and channel them into initiatives that directly benefit our community.

Kickstarting IRONBALL.xyz and Introducing Key Transactions

The redeployed funds have been instrumental in kickstarting IRONBALL.xyz, providing the community with a reference point for the trading prices of IRONBALL Keys on OpenSea.io. These keys are priced based on their rarity, which is directly tied to their utility and backing value of xHONO. Here's an overview of the key transactions:

Community members can also convert their xHONO to IRONBALL Keys via IRONBALL.xyz/keys. It requires 50 xHONO to mint a key, and each key's rarity determines its price.

Enhancing Community Engagement Through the IRONBALL Lottery

After establishing trading prices on OpenSea, the funds were injected into the IRONBALL Lottery to boost total value locked (TVL) and generate rewards for the participating community. The lottery operates as follows:

  1. All funds are converted into stETH via Lido.fi, where they generate daily yield.
  2. The daily yield is awarded to the lucky ticket holder whose number is selected during the lottery draw, which occurs once a day.
  3. Community members can participate in the lottery through the platform: IRONBALL.xyz/lottery.

This approach combines fun with tangible rewards, ensuring that our community actively benefits from the platform's growth.

Sunsetting Inuko

While the Inuko-USDT LP funds have been fully redeployed, we are sunsetting Inuko to shift focus to more sustainable initiatives. To ensure the transfer function of INUKO continues to work, we have created a new MANGA Token & INUKO LP pair on PancakeSwap. View transaction.

Additionally, all remaining withdrawn Inuko tokens have been burned to support the token's value and scarcity. View transaction.

Community members can also convert their INUKO to xHONO via the platform: app.honoprotocol.com/mint/inuko.

Conclusion

By strategically redeploying the Inuko LP funds, we've not only revitalized dormant assets but also laid the foundation for a more engaging and rewarding community experience through IRONBALL.xyz. These efforts exemplify our commitment to making cryptocurrency fun, rewarding, and community-focused while ensuring sustainability for all our initiatives.

Join our mailing list to stay in touch

Be the first to hear about important product updates.
Your email will be kept private.