Original | Odaily Planet Daily
Author | How is the husband
Today, the MemeCoin Foxy on Linea announced the official issuance on the X platform. Earlier, OKX announced that it would go online with the FOXY token at 16:00 today. In less than an hour after FOXY went online, the price soared from 0.0005 USDT to a high of 0.025 USDT, an increase of up to 50 times.
Who exactly is Foxy? Why can it announce the online launch on OKX before its issuance? For this, Odaily Planet Daily elaborates on the past of the Foxy project and the standards for future airdrops.
Linea officially recognized, Foxy has a strong background
According to Foxy's X platform account, the Foxy project was established on February 22nd of this year. In less than 4 days after its establishment, Foxy and the Clutch project on the Linea network were linked, launching Foxy NFTs that can be freely minted through Clutch AI, and completing corresponding tasks can also earn Linea XP. Subsequently, Linea's official account reposted the news.
However, in less than 6 days, the number of Foxy NFTs minted exceeded 500,000, and Linea's official account congratulated them multiple times.
From the current perspective, the Foxy team has outstanding capabilities. In less than 4 days after its establishment, it can frequently interact with Linea's official account. The fox pattern is used as the symbol of MetaMask, and the teams behind Linea and MetaMask are both Consensys, which must have boosted the popularity of the Foxy project. At the same time, the gameplay of Foxy NFTs has allowed its community to quickly gather, providing a certain community foundation for later coin issuance.
Then, on March 21st, Foxy retweeted Binance's tweet, hinting at the expectation of coin issuance.
On March 31st, Foxy announced the issuance of coins in April. Subsequently, on April 2nd, Foxy stated that 25% of the total token supply will be airdropped monthly. The April airdrop will be for the top 100,000 addresses in terms of interaction on MetaMask. According to the official rules for this airdrop, the number of successful interactions is the measure, and the snapshot time is April 4th.
On April 9th, Foxy announced that the FOXY token will be simultaneously listed on OKX, Bybit, LineaBuild, and LynexFi at 16:00 on April 12th Beijing time.
On April 10th, Foxy introduced the standards for multiple airdrops of FOXY tokens. Among them:
First airdrop: 5% for the top 100,000 MetaMask Swap users, each eligible user will receive 5,000 FOXY tokens (about $94.5);
Second airdrop: Airdrop to OKX KYC users, participants will complete a series of tasks, and those who meet the conditions will receive the airdrop;
Third airdrop: Announced airdrop to different communities in the Linea ecosystem;
Subsequent airdrops: Including previous NFT activity airdrops, details have not been disclosed.
It is worth mentioning that, according to Lookonchain monitoring, address 0x348 spent 330 ETH to buy FOXY at the first time it went online, and then sold nearly half of the FOXY tokens on the chain, worth 336 ETH, with a profit of over $1 million.
FOXY Token Economics
The total supply of FOXY tokens is 10 billion, and the token distribution is as follows: community airdrop (MetaMask/Linea) 25%; seed round 15%; team and support 13%; liquidity for market makers/CEX 10%; future CEX listing 10%; advisors 6%; treasury 6%; ecosystem partner rewards 5%; project and off-market trading funds 5%; DEX liquidity 5%.
After the issuance of FOXY, as the price continued to rise, some KOLs questioned why Foxy did not allocate quotas for KOLs.
However, from the perspective of token distribution, the official has not disclosed relevant details, and it is not clear about the unlocking situation of the relevant tokens. Therefore, Odaily Planet Daily reminds investors to be cautious as the price of Meme coins fluctuates greatly.
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