What is CWIF?

Preface

After completing the airdrop to over 400,000 holders, Catwifhat became a popular deflationary meme coin for the entire Solana community in early 2024, based on the popular meme Dogwifhat and utilizing the burning fee extended by Solana tokens, automatically burning 4% of $CWIF for each on-chain transaction.

Catwifhat Introduction

Catwifhat is the largest auto-burn project and the most widely distributed memecoin on Solana to date. The mission of the Catwifhat community is to bring deflationary token economics into the world of memecoins! Solana launched the auto-burn feature for this project in 2023, and shortly thereafter, $CWIF was introduced to the Solana meme scene. Since its launch in December 2023, Catwifhat has become the longest-standing meme on the Solana blockchain.

Catwifhat NFT

Pixel Catwifhat NFTS

Catwifhat Pixel series is $CWIF's PFPable NFT series, containing 1,000 unique cats and 13 rare hats, each with a minting price of only 0.01 $SOL, with 100% of the funds used to support the artist.

Explore the series:www.tensor.trade/trade/pixel_catwifhat

Origami Catwifhat NFT
The NFT series celebrates Catwifhat having 500,000 holders within three months of its launch. As of March 15, 2024, the third anniversary of $CWIF's establishment, the first 500 holders of $CWIF have received an airdrop of 500 NFTs.

Explore this series:https://magiceden.io/marketplace/origami_catwifhat

Catwifhat 50 NFT
To celebrate the two-month launch of Catwifhat, $CWIF has collaborated with the community to airdrop this special NFT series to the top 50 holders.

Explore this series:https://magiceden.io/marketplace/cwif50

Token Economics

$CWIF has a maximum supply of 1,000 trillion, which is the initial supply of $CWIF before any destruction, more details:

• The initial contract address of Catwifhat $CWIFv0 has a maximum supply of 77.78 trillion (no reason behind it)
• When the final $CWIF contract address is created, it introduces a maximum supply of 999.99 trillion to mimic the maximum supply of $WIF, which is 999.99 million.
• After the $CWIF contract is created, over 920 trillion dollars worth of CWIF will be permanently destroyed, returning to the original circulating supply of 77.78 trillion.

For a project, a more important number than the maximum supply is the remaining supply, which is the total supply. The total supply data on CoinGecko and CoinMarketCap shows the supply of $CWIF after burning.

CoinGecko:
https://tinyurl.com/cwifgecko

Coin value market value:
https://tinyurl.com/cwifcmc

4% Automatic Burn

$CWIF uses Solana token expansion to achieve a unique 4% automatic burn for each on-chain transaction, gradually reducing the supply of Catwifhat $CWIF over time as the mechanism is built into the contract.

The decentralized token burning method of $CWIF ensures a continuous 4% reduction in on-chain transactions, and there is no authority behind the burning, which means that a 4% fee will be charged for each DEX purchase, DEX sale, and wallet transfer, and permanently deducted from the circulation of $CWIF. Unlike the traditional method of using a single burning wallet, the burning mechanism of $CWIF keeps the burned tokens in all wallets interacting with $CWIF.

The burning method uses the advanced features of Solana Token Extensions to create an efficient and transparent burning process, enhancing the decentralization and deflationary nature of the token. This 4% fee mechanism aims to gradually increase the percentage of circulating supply owned by each holder as more transactions occur.

Since the destruction of $CWIF depends on the DEX trading volume, including DEX buying and DEX selling, as well as wallet transfers, it is not possible to predict the future destruction of $CWIF. The average destruction rate is not an indicator of future destruction, and destruction may vary depending on the DEX trading volume. $CWIF cannot be minted again, and the destruction of $CWIF will be permanently locked using the Solana token extension, meaning that the total supply of $CWIF is all the $CWIF remaining in circulation.

Token Burn

All $CWIF statistics are from Birdeye or SolanaFM and are subject to the accuracy of the website.

• Initial Supply: 77.78T
• Remaining Supply: 31.71T
• Burn % number: 59.23%
• Market Cap: 8.94M

Related data

$CWIF has experienced a significant decline since August. According to the data from CoinGecko as of the time of writing, its market value is approximately 8.8M. Please be aware of the risks.

Gate.com spot has launched CWIF, trade now:https://www.Gate.com/zh/trade/CWIF_USDT

Summary

Catwifhat is not just a meme coin, but also a vibrant and engaging community that celebrates the fun side of cryptocurrencies and its innovative deflationary mechanism. Cat emoticons embody the spirit of internet culture and are at the core of the Catwifhat community, bringing joy, laughter, and friendship to all members.