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What is Turbo Memecoin?

by BSC News

May 28, 2024

chain

Turbo's founder challenged GPT-4 to create a meme coin with a $69 budget, resulting in the creation of TurboToad.

Turbo Coin (TURBO) is a meme coin distinguished by its progressive frog mascot. This cryptocurrency began as an experiment, leveraging the power of artificial intelligence. 

 

One of the core philosophies behind Turbo Coin is leveraging artificial intelligence to foster community engagement and create a unique identity in the memecoin market. 

The Birth of TURBO

The inception of Turbo Coin is as unconventional as the token itself. The project founder, Rhett "Dashwood" Mankind, issued a unique challenge to GPT-4, an advanced AI model by OpenAI: create the next big meme coin with a budget of just $69. 

 

The AI selected the project’s name, chose the mascot—a progressive frog named TurboToad—and designed the logo. It also defined the tokenomics, wrote the smart contract code, and offered strategies for a successful launch. 

 

Mankind is an award-winning artist known for his work in commercial art and design. He has exhibited his works in prestigious galleries and auction houses, including Sotheby’s and SuperRare. Additionally, he is an NFT collector and educator in Digital and Crypto Art, with a devoted following on YouTube.

 

Despite having no prior knowledge of coding or smart contracts, Mankind successfully launched Turbo Coin by following step-by-step instructions and lines of code provided by GPT-4. Throughout the process, he also received valuable input from his witter followers, highlighting the project's community-driven nature.

Token Economy

Turbo Coin follows a token economy model that emphasizes fairness and accessibility. The total supply of TURBO tokens is set at 69 billion. 

 

These tokens have been distributed equitably to ensure no single entity holds a majority stake, promoting a decentralized ownership structure. Unlike many other cryptocurrencies, Turbo Coin transactions are tax-free, adding to its appeal among investors. 

Community Initiatives

Despite being smaller than other meme coin communities like Dogecoin and Shiba Inu Coin, Turbo Coin’s supporters have been notably active. 

 

They took several initiatives, including listing the coin on Dextools, setting up a Telegram chat, and organizing an art contest featuring the token. These community-driven efforts underscore the dedication and creativity of Turbo Coin’s holders.

 

Current Status and Future Vision

Currently, Turbo Coin has no real-world use case, and its value remains speculative. This means that investing in TURBO carries inherent risks, with no guaranteed future value.

 

However, the project's future vision is ambitious, aiming for full decentralization. Since the launch in late April, Rhett Mankind has largely stepped back from active involvement. 

 

He made Quantum Leap, the mascot, available for public use through a Creative Commons Zero license and renounced ownership of the smart contract. This renouncement ensures that he can no longer alter the code, promoting a truly decentralized governance model.

 

Market Performance

Turbo Coin has demonstrated impressive market performance since its launch. On May 28, TURBO’s price surged to an all-time high of $0.00966, boosting its market capitalization to approximately $640 million, according to CoinMarketCap. 

 

Over the past three months, the meme token experienced significant gains, rising from a $27 million valuation to over $600 million. This represents an astounding 2,262% increase in market capitalization.

Disclaimer

Disclaimer: The views expressed in this article do not necessarily represent the views of BSCNews. The information provided in this article is for educational and informational purposes only and should not be construed as investment advice. BSCNews assumes no responsibility for any investment decisions made based on the information provided in this article

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