Answers to commonly asked questions around the project. This will be updated periodically.
Why is there a 40% ‘dev fee’?
Meowcoin started with a mission to build a project for miners that never required them to contribute a cent. Our founders, but particularly MeowMan, watched as other great projects suffered from one key thing - funding. Because they did not have the $’s required to put into development, marketing etc, the projects flounder and never reach their potential.
Additionally, a core goal of Meowcoin was to donate to shelters. For this to be true, we needed to ensure there was an ongoing source of income that we could rely on to donate to shelters.
Thus, we placed within the tokenomics a split of the block reward; 60% goes to miners and 40% goes to the project to utilise.
Will you ever lower this fee?
From the outset, the Meowcoin team has been transparent that funds would be used to support the ongoing progress of the project. We have honoured that commitment in how we’ve used the funds.
As such, the funds are used to fuel the project and ensure it retains liquidity to ‘pay the bills’ as it were.
Consequently, and to ensure the ongoing success of Meowcoin, we will not be lowering or changing the fee in the foreseeable future.
But how do you liquidate those funds to support the project?
We have a generous investor who conducts over-the-counter trades that result in Meowcoin being able to fund itself. These trades contribute directly to the donations, pay for servers, accommodate marketing efforts and are used for other extraneous costs.
So does that mean you DON’T sell on exchange?
Correct. We do on occasion provide liquidity to exchanges where the books are light and we wish to ensure there is funding to trades, but we do not sell on to exchanges. This means there is no sell pressure from our side.
Can be MEWC rug-pulled?
No. Meowcoin is a proof-of-work coin. We do not control a large treasury that would result in the management team being able to ‘dump’ and take the liquidity. This is the key difference between proof-of-work and proof-of-stake; in the latter, the founding team controls the entire coin liquidity pool and can take it at their convenience.
What is coming up next for Meowcoin?
Great question! We’re working towards forking the algo to MeowPoW. This will see miners benefit from a lighter mining algorithm; saving them money and creating higher profitability.
We’re also looking to wrap the coin so DEX’s can list our coin. This will be a relatively big step forward and allow us to reach a far wider audience than we currently are on.
Additionally, Segwit and Taproot, key Bitcoin improvements, were area’s we’re exploring and want to tackle.
Finally, Pawprint - our adoption software - is on the cards to be completed. This will see us fulfil our Whitepaper.