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The initial coin offering for MOLLARS, a store of value token on Ethereum (ETH), is now live.
Designed to serve as the new “Bitcoin (BTC)” of the ERC-20 and Ethereum community, crypto traders have already purchased 0.07% of the total supply of MOLLARS allocated.
What This New ERC-20 Token Is About
Molars is a fully decentralized, community-driven project, designed as a store of value token for the Ethereum ecosystem.
It aims to become the “Bitcoin of Ethereum’s blockchain” with no owner and no tokens being held by developers, just as Satoshi is believed to have done with Bitcoin.
The ongoing token presale is to raise funds from the community to build technology, market, and launch a single web3 product that will be a catalyst for MOLLARS demand.
So far, over 18,000 MOLLARS have been bought.
Crypto Investors can use Tether (USDT), Ethereum (ETH), or a credit card to buy the token.
The project plans to raise $2 million, the hard cap, by the time the crowdfunding event ends in mid Q2 2024.
In the first stage, reading from its roadmap, funds will be used to develop its smart contracts. This code will be foundational to the platform. Accordingly, it will be audited before deployment.
MOLLARS powers all transactions in the platform. It also complies with the ERC-20 standard of Ethereum, making it compatible with already existing decentralized finance (defi) infrastructure and protocols.
The platform’s design combines elements of meme coins, fostering engagement and fun, and those of mainstream altcoins. As such, MOLLARS is viewed as a utility.
Moreover, MOLLARS plans to release a web3 product on the same day its token is listed on crypto exchanges.
The product would be a utility, integrated to add tangible value to MOLLARS, allowing its holder s to carry out transactions, raise awareness, onboard more token holders, and stimulate an increase in daily transactions.
Liquidity and Governance
Similar to the original design of Bitcoin, MOLLARS focuses on building a community of retail investors due to its commitment to decentralization, thereby eliminating the centralization of control.
As such, the MOLLARS distributed follows guiding and foundational principles guiding decentralized crypto projects.
Funds raised in the ongoing presale will go into developing its long-term liquidity pool (LP) of $1 million.
This LP will of course be verified with governance verification.
The 7-figure pool would help provide a solid foundation for MOLLARS’ liquidity, even supporting prices and ranking on crypto indices such as CoinGecko and CoinMarketCap.
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