Grumpy did a dumpy

Grumpy did a dumpy

Grumpy Cat coin (grumpy.finance) is a new meme coin that is community owned and raises donations to animal charities.

In the first couple of days the community gathered 70k in Ethereum and donated it to Sterling Animal shelter https://www.sterlingshelter.org/.

“I don’t know if you guys realise this, but this is a life-changing amount of cash for smaller sized non profit organisations. I hope this really takes off and that you guys continue to pick smaller neighborhood organisations to campaign for” – Leigh Grady – Director of Sterling Shelter

In theory this is a fantastic project and to me is streets ahead of other meme coins in terms of it’s branding and appeal. With it being community-run and charity-focused, it sets the scene for a great team effort to aid the coin do well and also aid charities along the way.

After getting launched for only a week and achieving great growth the value took a dive amongst tension in between the owner of the initial grumpy cat meme.

Grumpy Cat
Grumpy Cat

Currently, the token is only obtainable on Uniswap – a decentralized (defi) exchange. This is all fine and all the sales of $Grumpy have to date been made on this platform. At the moment Ethereum gas costs are ridiculous with customers getting to spend amongst $40-$90 Ethereum gas fees for a single acquire although Uniswap is due to be releasing a new version very soon with tremendously decreased charges. Some say that Uniswaps new program could get rid of the need for non-decentralized exchanges altogether, but that is a different story.

The upcoming listing on Whitebit, an Estonian primarily based exchange common for defi tokens, offered a signifies for great exposure and tremendously lowered fees for trading the token. The value was rising in anticipation of the token getting listed there. This came to a head final evening when the owner of the grumpy cat meme filed a cease and desist notice to Whitebit on copyright grounds and the price tag tanked to the floor, causing total chaos in the community. A lot of investors would have produced severe losses.

With Grumpy Cat being community-owned there is no-one particular to file a lawsuit against. The coin becoming on Uniswap is also not an problem due to the fact Uniswap is a decentralized exchange, you can not create to Uniswap and ask for it to be removed from the exchange simply because it doesn’t operate like that. That is kinda the whole point of a decentralised exhange, no one owns it. The only thing the meme owner can do is to write to non decentralised exchanges such as Whitebit and tell them that they cant list it.

This complete drama is raising a lot of questions about copyright infringement in basic in the defi space. I believe the entire thing will be sorted out quite soon and that the Whitebit listing will go ahead but only time will inform. Other defi meme coins exist which are clear copyright infringements such as “Charizard” and it will be fascinating to see how this entire issue gets clarified.

The coin is known as $Grumpy and so this is not an situation. One particular point that seems to be a sticking point is that they have an entry hardcoded into the blockchain that says “Grumpy Cat” that is immutable – can’t be altered.

I encourage you to go and verify out the website, telegram and discord and see how the scenario unfolds at https://grumpy.finance/

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