JAKARTA - The crypto community launched a memecoin called NotWifGary (NWG) on May 16. The memecoin is designed to support open-source developers and strengthen the Ethereum ecosystem.
NWG emerged as a form of protest against the increase in SEC regulations led by Gary Gensler. This memecoin is a symbol of resistance to regulatory pressures deemed unfair by its creators.
Marco Monaco, a member of the NWG initiative, confirmed that his involvement in this project was a personal initiative and was not linked to Linea or Consensys. Quoted from CryptoNews, Monaco said that My involvement in NWG is a personal expression and not in official capacity on Linea Build,. NWG aims to support entities battling the SEC.
NWG's official accounts state on social media that they will stand against the illegal actions of Gary Gensler and the SEC that attacked Ethereum and open-source developers.
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NWG, which is categorized as CultureCoin, will be launched decentralized with a fair launch strategy. The initial twelve supporters, all of whom are known to the public, are committed to distributing all token allocations in liquidity pools.
NWG will be managed as an ERC20 token on Linea, with multi-sig wallets involving genuine proponents. Liquidity Pool will be funded by community donations to ensure decentralization and justice. The donation will not grant rights to the NWG token, but will provide a 'Lunch Team' Soulbound Token (SBT).
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