Background of Crypto
Click here for background information on $REDCUP
Cryptocurrency is still in its early stages and will play an integral part of global digitalization. The world wide web is only about as old as the average human. When people think of "economic markets", the stock market is typically the first thing that comes to mind. However, that won't be true forever.
Blockchain offers something that no market has ever seen before: an indisputable ledger. All trades are public and the history of an address can be seen with the click of a single link. This level of transparency is something that has never been seen before. It is a threat to anyone against democracy and equal opportunity for all. That is why governments tried their best to discount and suppress the technology. When that didn't work, they tried to regulate it as much as possible. After little success, we are slowly witnessing the widespread acceptance & adoption of crypto, with El Salvador leading the way.
The History of Crypto
Cryptocurrency started back in 2009 with the invention of bitcoin (BTC). This provided the first ever deflationary 'store of value' that was written in unhackable code. It is now largely accepted as "digital gold". However, it was not easy to add new coins into the ecosystem. The gold of the internet was in desperate need for its silver counterpart.
In 2013, Ethereum (ETH) was launched as a way to build cryptocurrency into more than just the 'store of value' that bitcoin offered. The purpose of ETH was to be an essential building block for launching other projects. Think of it like building a nationwide interstate. Ethereum can be compared to the initial pavement that is laid down over dirt and grass. it provided the base for millions of future cryptocurrencies. The goal of some new coins was to paint the pavement in order to provide lanes for cars to use. Other projects attempted to put up street signs to give the public directions, warnings, and instructions so they knew how to follow local driving laws. All of which could not be built without the pavement (Ethereum). This advanced cryptocurrency for several years until one issue became clear.
Let's continue the analogy of cryptocurrency being a nationwide interstate. Bitcoin is the ground and Ethereum (ETH) is the pavement. Now that the ecosystem was created, cars started driving! Thousands of projects launched, all of which using the base that ETH built. What do all of these cars (coins) need in order to operate? Gas. Machines need gas to build new cars. Cars then need gas to get from one location to the next. This is exactly how ETH worked. A small network fee needed to be paid if you wanted to launch a new project, send crypto to a friend, or even just to use an exchange to turn USD into crypto. This worked for a bit, as the network fees were paid in Ethereum and the price was low. However, as more and more people used ETH, the price increased dramatically (see chart below), and so did the network fee. When the network got congested, a 'traffic jam' was created, and users would need to pay $200+ in gas fees alone to use the highway system that Ethereum offered.
The Future of Crypto
While Ethereum will be around forever, many tokens started being launched to fix the problem of high gas fees. Instead of using ETH as the building block, projects began to try and create a whole new highway system. Some of the more successful ones include Binance (BNB), Polygon (Matic), and Cardano (ADA). The common theme of every new interstate: gas fees were significantly cheaper. Ethereum is still worth more than any new project, but the next decade will determine if ETH can remain popular despite its high gas fees.
There is one project we have not mentioned yet: Solana (SOL). It has experience the most recent success in the crypto space as meme coins have caught the attention of mainstream investors. The advantage of SOL is that it has very low network fees and offers low barriers to entry for new tokens and investors alike. This is the interstate system that $REDCUP is built on.
Background of $REDCUP
$REDCUP was initially launched on the pump.fun ecosystem. The project originally performed very well, skyrocketing to a market cap of about $1,000,000 ($1M). However, much like any meme coin launched on pump.fun, it eventually crashed hard when the developer and insiders sold. This was only after a small, but passionate community was created. The holders and developer agreed it was best to turn this project into a community takeover (CTO). All assets and accounts have now been handed over. Shortly after transferring into a CTO, DexScreener was updated and now we have a solid group of $REDCUP holders that want to work on building this meme coin for years to come.
Solana and the crypto-sphere are struggling right now as 99.9% of meme coins only survive a few days. The space is dominated by spam, scams, and rugs. $REDCUP is here to change that narrative and produce a community of red cups that are focused on fun, good vibes, and consistent giveaways. Meme coins offer an opportunity for anyone anywhere to invest in anything. The hope is to turn this project into a place where people can enjoy the benefits of a decentralized blockchain project while avoiding all of the negatives that surround other meme coins. There are admins available 24/7 in our Telegram to answers any and all questions you may have about our token. The coin also offers a unique opportunity to get in on the ground floor so you can help to grow your own bag. The developer is no longer involved in any way, and the community has a laundry list of ideas for future growth.
It is no secret that cryptocurrency grows and crashes in cycles. The plan for this bull run is to attract investors that want exposure to meme coins without taking on excessive risk. Since the market cap is only about $10,000, it only costs a few (red) cups of coffee to hold a chunk of the supply. Weekly burns and giveaways are planned to help this project remain active. The core community plans to continue building this token even in a bear market. One day our hope is turn this into more than just a meme coin. More than 7 billion red cups are tossed into landfills every year in the United States alone. The team believes there will be an opportunity to use blockchain technology to build a better world, both on and off the internet.