NotWifGary: A Decentralized Meme Coin Resisting Regulation and Supporting Ethereum

What is NotWifGary

Friends, imagine a group of people in the digital world who feel that certain “rule makers” are too controlling, limiting the space for free innovation. So, they decide to express their attitude in a special way—just like in real life, people create comics, songs, or T-shirts to share their views. NotWifGary (NWG for short) is such a “cultural symbol” or “meme coin” in the digital world.

It’s not a complex financial instrument, but more like a community-driven digital token with a distinct attitude. It was born on a “highway” of Ethereum called Linea (a Layer 2 zkEVM), which means it enjoys Ethereum’s security while offering faster transactions and lower fees.

Simply put, NWG is a novel cryptocurrency project that expresses opposition to excessive intervention by certain regulatory agencies (especially the U.S. Securities and Exchange Commission, SEC) in the crypto industry in a lighthearted yet determined way, and aims to support those who speak up for the Ethereum ecosystem and open-source developers.

Project Vision and Value Proposition

The core vision of NotWifGary is like a flag in the digital world, hoping to become a symbol representing the crypto community’s resistance to what are seen as unfair regulatory actions. Its slogan is “#ETHforALL,” meaning it hopes Ethereum can be freely used and developed by everyone, without unnecessary restrictions.

The main problem this project wants to address is that when regulators put too much pressure on the crypto industry, it can stifle innovation and make developers uneasy. NWG hopes to gather the power of the community through this “culture coin” format, amplify this voice, raise awareness of this tension, and collectively support the free development of the crypto world. Unlike many other crypto projects, it’s not just a token, but an attempt to combine “meme culture” and “decentralized activism,” using humor to challenge serious regulatory issues.

Technical Features

Although NotWifGary is a “meme coin,” it also has some noteworthy technical aspects:

Blockchain Foundation

NWG runs on Linea, which you can think of as a “fast lane” or “bypass” of the Ethereum mainnet. It uses advanced zero-knowledge proof (zkEVM) technology, which greatly increases transaction speed and reduces costs without sacrificing security. It’s like diverting congested traffic from the Ethereum main road onto a more efficient dedicated lane.

Token Standard

NWG is a standard ERC20 token. ERC20 is the most common token standard on Ethereum, like the “universal currency” format in the digital currency world, meaning it can easily circulate between various Ethereum-compatible wallets and trading platforms.

Fair Launch and Decentralization

The project emphasizes the principle of “fair launch,” meaning that at the time of issuance, no tokens were pre-allocated to project creators, exchanges, or market makers, and there is no extra minting privilege. It’s like everyone starting from the same starting line, ensuring the highest degree of decentralization for the project.

Multisig Wallet

NWG tokens are deployed from a multisig wallet. A multisig wallet is like a safe that requires multiple keys to open, needing authorization from multiple parties to operate, which greatly enhances fund security and prevents single-point failures or internal misconduct.

Tokenomics

Tokenomics, simply put, are the rules for how this digital currency is designed, issued, circulated, and used.

Token Information

• Token Symbol: NWG
• Issuing Chain: Linea (Ethereum Layer 2 network)
• Total Supply: 69 billion (69,000,000,000 NWG).
• Circulating Supply: Some sources show the current circulating supply as 0, while others report a self-declared circulating supply of 69 billion, i.e., 100% in circulation. This may mean all tokens have been issued and are available for trading, but the actual amount actively traded in the market may vary.

Funding and Liquidity

NWG’s initial liquidity was established through community ETH donations, a decentralized fundraising method. The most interesting point is that the project’s liquidity pool (LP) is locked for 66 years. Why 66 years? Reportedly, it’s a “tribute” to the age of SEC Chairman Gary Gensler, once again reflecting the project’s “anti-regulation” sense of humor.

Token Utility and Governance

Currently, NWG mainly serves as a “culture coin” and a symbol of community attitude. The project has planned a 2% transaction tax mechanism, meaning every trade on decentralized exchanges (DEX) will have a 2% fee sent to a community treasury (DAO). Once this treasury reaches $100,000 in ETH, project control will gradually be handed over to the community, governed by a decentralized autonomous organization (DAO). This means that in the future, NWG holders will have the opportunity to participate in project decisions, such as how treasury funds are used or the project’s future direction.

Team, Governance, and Funding

Team

The NotWifGary project was jointly initiated by a small group of community members. There are 12 “original project supporters,” and reportedly their identities are public (doxxed) on the official website, meaning they are not anonymous but have chosen to support the project openly.

Governance

The project’s goal is to achieve community governance. As mentioned earlier, through the 2% transaction tax accumulation, once the treasury reaches a certain size ($100,000 in ETH), project control will transition to a DAO. A DAO is like an organization where all token holders vote on decisions, and everyone can influence outcomes based on the number of tokens they hold—a highly democratic and transparent governance model.

Funding

The project’s initial funding mainly comes from community ETH donations, used to establish the initial liquidity pool. In addition, future DAO treasury funds will come from the 2% tax generated by DEX trades.

Roadmap

The NotWifGary project officially launched on May 16, 2024. Community donation activities lasted until May 22.

Looking ahead, the main plan is that if the project develops successfully, it will establish a community treasury and a DAO. This will be a key step in transforming the project from a pure “meme coin” to a more community-driven and functional ecosystem. Currently, apart from this macro goal, there is little mention of specific phased timelines and detailed feature plans in public information.

Common Risk Reminders

Investing in any cryptocurrency comes with risks, and NotWifGary is no exception. As a friend, I must remind you of the following points:

• High Volatility: Meme coins like NWG often experience huge price swings, which can rise or fall sharply in a short time. It’s like riding a roller coaster—exciting but full of uncertainty.
• Regulatory Risk: Although NWG itself is a symbol of anti-regulation, the entire crypto industry faces ever-changing regulatory policies worldwide. Any new regulations could impact the project.
• Market Liquidity Risk: Although the liquidity pool is locked, market trading volume and interest may change over time. If market interest in the project wanes, it may lead to trading difficulties or price drops.
• Technical and Security Risks: Although the project uses multisig wallets and other security measures, blockchain projects can still face smart contract vulnerabilities, hacking, and other technical risks.
• Not Investment Advice: Please remember, the information I provide here is for reference only and does not constitute investment advice. Always do your own research (DYOR) and consider consulting a professional financial advisor before making any investment decisions.

Verification Checklist

If you’re interested in the NotWifGary project and want to learn more and verify its information, here are some links and resources you can check:

• Official Website: notwifgary.xyz
• Block Explorer Contract Address: You can find detailed information about the NWG token on the Linea chain using this address:
  0xe2a6e74118e708f7652fc4c74d2f9ee5fa210563
• Block Explorer: You can use tools like lineascan.build to view NWG’s transaction records and holder distribution on the Linea chain.
• GitHub Activity: Public information currently does not specify the project’s GitHub repository or activity. If you’re a tech enthusiast, you can try looking for related info on the official website.

Project Summary

In summary, NotWifGary (NWG) is a “meme coin” issued on the Linea blockchain, combining crypto culture and decentralized activism in a unique way. It aims to express dissatisfaction with the current crypto regulatory environment and support the Ethereum ecosystem and open-source developers. The project emphasizes fair launch, community-driven development, and decentralization through locked liquidity and future DAO governance.

It’s not just a digital asset, but more like a symbol of community attitude. However, as a meme coin, it also comes with high market volatility and other inherent crypto risks. If you’re interested in projects that blend cultural expression and blockchain technology, it’s recommended to visit the official website for deeper understanding. Remember, this is not investment advice—always exercise caution with any investment.