MemeX, a memecoin-focused platform, has announced a unique rewards program aimed at increasing user engagement and preventing bot fraud.
Launch of Rewards Program
On June 27, MemeX, a memecoin launchpad on the MemeCore blockchain, announced the launch of a rewards campaign for its users. A total of $700,000 will be distributed, with a special focus on detecting and filtering out bots.
Innovations Against Bots
To verify users, a new informal system called Proof of Sh*t has been introduced. The idea is that bots cannot fake bodily functions. Users will need to log their bodily functions daily, sending proof to MemeX. Despite the absurd approach, the MemeX team emphasizes that this is a valid verification method that AI cannot replicate.
Challenges with Bots in Cryptocurrency
Token airdrops remain a popular way to boost engagement in cryptocurrency, however, they are also plagued by persistent bot issues. Crypto bots can create thousands of wallets, simulate real engagement, and siphon off rewards meant for real users. Although projects are actively trying to combat this practice, distinguishing between real users and bots is becoming increasingly difficult.
The launch of the rewards program by MemeX represents a new approach to ensuring user engagement amidst challenges related to fraud and bot usage in cryptocurrency. The unique verification system may draw more attention to the importance of honest participation in airdrops.
