You Are The Internet. The Internet Is You

The internet has changed nearly every aspect of our lives. Today, over 5.3 billion people spend time online. 20 years ago, the number was around 1 billion. 30 years ago, the number was effectively zero.

Now, the average person spends more than 6.5 hours per day online thanks to that supercomputer in your pocket. A significant portion of that time is spent on social media. It is now the primary way people connect with each other.

Despite the dominance of large social media companies, many users are looking for ways to break free from the grips of these sites.

Why? When you post on social media, you are providing your labor for free. These companies monetize your content through targeted advertising. 

You provide the data for free, then you pay for the products they promote. Pretty great deal for them, not so much for you! 

Constant ads, harvesting and selling personal data, and the prevalence of bots have deteriorated the social media experience. It’s time for a new model to take over. 

Meme Culture & Meme Coins

Enter meme culture. Memes are like the language of the internet. They are a way for like-minded individuals to connect with each other using this shared language.

A meme coin is a type of cryptocurrency that draws its value and popularity from internet memes, cultural trends, or social media jokes. They are often created as a parody and tend to have unique or catchy names that resonate with a particular online community.

Meme coins leverage the power of viral internet culture to gain traction and attract attention from crypto enthusiasts and investors.

Thanks to the speed, security, and low cost of certain blockchain protocols, particularly Solana, it’s never been easier to buy or create a meme coin.

Bad Actors

But this ease of access creates problems. With a decentralized ledger for purchases, scams have proliferated with the perpetrator being able to hide behind the anonymity of one or many crypto wallets.

Rugs, pump and dumps, and honeypots dominate the meme coin space resulting in losses of millions of dollars from naive investors and unethical actors who only desire to take advantage of people.

This has resulted in people purchasing meme coins and selling them as quickly as possible, often for a small loss or a small gain. In many cases, the loss can be catastrophic thanks to the liquidity pool being drained, or the developer putting a freeze on transactions, or a dozen other shady tactics.

A Better Vision

This website outlines the key components to creating an ethical crypto community, what we refer to as a Certified Chad Community (CCC).

Such a community must be driven by 4 key pillars – 

• Community Structure & Rules
• Utility & Innovation
• Charity & Social Impact
• Humor and Memes

I also discuss how meme coin communities differ from traditional financial markets and why some people choose to invest in meme communities much more than stocks and bonds.

The second part of this page describes how UberJeets fulfills all the components of a Certified Chad Community and is leading the way to create a healthier crypto culture designed for long-term sustainability, community engagement, and of course – memes.

UberJeets is fulfilling this vision through a new tool called The Jeet Receipt. 

The Jeet Receipt introduces trust and transparency into the meme coin market, while not detracting from the advantages of a decentralized blockchain.

This will directly result in increased mainstream acceptance of crypto, increasing the investment and addressable market size for the entire industry.

Meme Coins Not Meme Stocks

The focus of this document is on meme coins traded on the blockchain, not “meme stocks” such as GameStop, AMC, and others.

We discuss the Solana blockchain here due to its popularity, low trading fees, and ease of accessibility. And Solana also happens to be the home of UberJeets.

Let’s dive in.

The Meme Coin Marketplace

What gives a meme coin value? In today’s market, the short answer is “clout”.

Influencers and organized groups secure certain coins that they have created but not yet released to the public, often capitalizing on current events or trending topics to quickly create a coin. They might have 50% or more of the supply locked down in these groups, at zero cost.

Then the promotion starts. Dozens of accounts across all social networks promote the coin at the same type. Massive FOMO is created. The coin is released to the public, leading to a substantial price increase over a short period of time.

What happens next is the selloff – The influencers and their close connections sell the coin after they promote it, using the new buyer's funds as exit liquidity, resulting in dramatic price swings and a chart that looks something like this.

This is what is commonly referred to as a ‘pump and dump’ and it is unfortunately the norm in the meme coin space. The market cap is not driven by underlying technology or utility.

This is not how you grow a market, and it is not what the market wants out of meme coins.

What people want, ultimately, is a positive, empowering community anchored by memes.

This might sound odd, that people want a community centered around memes.

But this is really what meme coins are – a currency of meme culture, and by extension a currency of culture at large. It is a way to express interest in the things we care about.

And to make meme coins work in the long-term and effectively outlive their origins, certain elements need to be in place for them to grow and thrive: An organized community, utility within the ecosystem, charity or social impact, and humor/memes. This is the formula for how to create a Triple C – Certified Chad Community.

How to Setup a Long-Term Oriented Community

What is a meme coin community? It is not unlike other virtual communities, such as those found on Facebook groups, Discord, and many others.

A successful virtual community is built around a clear purpose or shared interests. For meme coins, the community emerges through the meme, which functions as the glue of the community.

But this ‘glue’ is not often enough for long-term viability. The community can fall apart due to bad actors, miscommunication, meme fatigue, misalignment on the vision, or lack of a vision at all.

The meme is a necessary, but not a sufficient component of a sustainable meme coin community. To thrive, a meme coin community needs several key components:

• Clear Purpose and Vision
• Active and Inclusive Membership
• Effective Communication Channels
• Quality Content and Engagement
• Governance and Moderation
• Recognition and Rewards
• Education and Support
• Transparency and Trust
• Collaboration and Partnerships

The community must be structured in a way that keeps members engaged and has a function to recruit new members. Without this in place, everything else will fall apart.

Utility & Innovation

What does it mean to have utility? In crypto markets, this means providing some sort of value within the ecosystem. The ecosystem could be some kind of value on the blockchain to other players in the market, or some value directly to the community’s interests, or any number of other things.

This ultimately comes down to your coin’s USP – Unique Selling Proposition:

This question forces you to innovate by dealing with the hard questions of real utility. If answered correctly, you are on a pathway to providing real value to the marketplace.

Without providing some type of value in the marketplace, it is nearly impossible to keep your community invested, engaged, and looking towards the future.

Just like traditional financial investments, meme coin communities would like to see a return on their financial investment. Take the time to find utility and pursue it without hesitation. Your community and your coin’s value will thank you.

Charity & Social Impact

A meme community with shared interests fosters connection, fun, and friendship within the confines of that community. Without an outward focus, the community can feel isolated from the larger world. Over time, this can stifle community growth and lead some members to burnout or disinterest.

This is where social impact, or charity, comes in.

Charity is the unbreakable glue of the community.

What does charity do for a community? Charity strengthens communal bonds, reinforces ethical norms of the community, attracts new members to the cause, builds a positive reputation, and creates a shared sense of purpose.

There’s no right or wrong answer for charity, but it’s often related to the meme in some way or agreed upon within the community.

Some communities can get by without a charitable component, but we feel social impact is a requirement to expanding the acceptance of crypto and for creating Certified Chad Communities.

Humor & Memes

Humor and memes are important parts of the community. It helps to keep the members connected through a shared language and reminds everyone to not take it all so seriously.

The specific meme that spawned the coin and the community can morph over time. New memes, similar or not to the original, can take hold in the community for periods of time.

The “meme-idea” is always there, no matter how it’s expressed in the community. It “completes the circle” and reminds everyone about what brought them there in the first place.

Meme Coins Vs. Traditional Financial Markets

Why not just invest in stocks or bonds? What is it that meme coins offer that those financial instruments do not?

If you read the previous section of this white paper, it is clear that meme coin communities believe there is real, tangible, monetary and social value in vibrant virtual communities.

This value is represented through the currency of meme coins. The underlying value is derived from social connection through an empowering community, innovation, charity, and humor.

This is in contrast to traditional financial markets, where value is derived from underlying company fundamentals (cash flow, revenue, net profit, etc) though it can be argued stock prices are not tied to these fundamentals due to the irrationality of the market, the impact of short selling, cults of personality, and more.

Netflix’s forward earnings multiple of 51.9 is more than double the S&P 500’s. Their Price-to-Earnings (PEG) growth ratio is 1.47. The S&P 500’s overall PEG is currently about 1.11, which suggests Netflix is significantly overvalued after accounting for its growth.

During COVID, central banks printed money on demand and hand it out to large corporations. Most of that money was spent on stock buy backs, which does nothing to improve the underlying fundamentals of the company. All it does is artificially increase the share price and give executives bigger bonuses.

Is this paradigm more fundamentally sound than meme coins? 

Certainly, the case can be made that these companies have figured out financial engineering that benefits the very few and harms everyone else.

For meme coins, there is an opportunity for a significant financial return, and not just in pump and dumps and other unethical practices. The founders and early investors of communities who have the skill and vision to create a Certified Chad Community can see outsized returns. Any investor can see outsized returns in these communities.

Just as majority shareholders in top performing Nasdaq stocks doesn’t sell all their shares and crash the company in one fell swoop, whales in Certified Chad Communities don’t liquidate their coins in this way either. They hold for long periods of time, then they might sell small amounts, slowly, in a way that does not impact price or lead to volatility. They never sell everything, and often buy more coins over time to reinforce their vision and commitment to the community.

Now that you understand how we envision the proliferation of long-term, positive oriented CCCs, let’s dive into how UberJeets embodies this vision and is creating trust and transparency in the meme coin space.

History of UberJeets

UberJeets came into existence on April 18, 2024. A developer created the coin, locked and burned the liquidity, then proceeded to dump his entire bag shortly after the coin launched.

This is all too common in the world of crypto. In most cases, the holders lose 90% or more of their funds, sell, and move on.

In this case, a group of holders decided to take a stand.

Why?

They were sick of rug pulls and scams dominating the meme coin market.

Within days, a core group of holders formalized a Community Takeover (CTO) of UberJeets. The newly formed board of directors decided they would not let this project die. Instead, they wanted to set a new standard for Solana meme coins based on the principles outlined on this webpage.

At the time of the CTO, the market cap of Uberjeets was around $6,000. The board members saw the potential in the project. The project had already been rugged, so there was no risk of a dev doing that again. 

The liquidity was locked, the liquidity pool tokens burned, freeze authority was revoked, the coin was immutable to prevent any changes to the metadata, and there were no buy or sell taxes. The technical components of the coin were all there to prevent any foul play on the blockchain that might impact holders.

At the time of this writing, the market cap of UberJeets was over $780,000, driven by a core group of holders, community engagement, organic outreach, and spreading the vision of UberJeets.

The Meme

Apart from the technical components, it became immediately apparent that UberJeets had significant cultural power as a meme, for several reasons.

Phrase Construction

UberJeets is a “euphonious phrase”.

Say it out loud a few times and you will quickly see that it has a pleasant, harmonious sound and rhythm that makes it easy and enjoyable to say.

Name Recognition

Everyone is familiar with the company Uber and their service “UberEats”. “Uber” has also been adopted in common usage to mean super, or extreme.

UberJeets is a “paronym” to UberEats – they have similar form and sound but different meanings.

Uber has significant global brand awareness and is likely to continue to grow in the coming years. It currently has a market cap over $134 billion, generated over $37 billion in revenue in 2023, and provides services in over 163 countries and serves more than 131 million users monthly.

Crypto Culture & Messaging

The term “jeet” has become enshrined in the crypto subculture on the same level as “hodl”.

It refers to an investor who quickly sells their holdings at the first sign of market volatility or downward price movement. This behavior is often characterized by a lack of patience and a tendency to panic sell, leading to quick exits from positions, often resulting in small profits or losses.

“UberJeets”, taken literally, would refer to a buyer who buys quickly and then sells at an extreme or “uber” level. This “jeeting” is the norm in the crypto world because of the prevalence of scams. And “jeeting” is what the developer of the coin did. The artwork associated with the project shows this while incorporating UberEats.

But the goal of the community is exactly the opposite - to encourage long-term holding and not be a “jeet” like the developer. 

The message here is that, if you “jeet” your UberJeets holdings, you will miss out on significant growth and have to work at UberEats to make a living just like the dev. (“Dev on his way to Uber after he jeeted”).

Charity & Social Impact

A big focus of UberJeets is charity for all the reasons mentioned previously in this paper.

Shortly after the community takeover, 6% of the total supply was secured with a target total of 10% of total supply to be used specifically for charity. At $780,000 market cap, our donation wallet is currently valued at over $47,000.

This is the main source of financial funding for UberJeets charity work, though broader engagement is also a part of our strategy to maximize our social impact.

Charity events are proposed and voted upon by community members with an emphasis on maximizing the impact of those dollars.

Our first charity event at an Orphanage in Tijuana, Mexico occurred in mid-June 2024. We raised over $2,800 to purchase food and daily necessities for children who need it most.

Utility - The Jeet Receipt

UberJeets will be launching the “Jeet Receipt” in mid-2024, which further strengthens the memetic value of the coin name.

The Jeet Receipt will allow a user to enter their Solana wallet address, without connecting their wallet, to see all the coins they invested in, how much money they made or lost, and how much money they could have made if they did not jeet. More details about this utility in the next section.

The Jeet Receipt

Profit and loss statements are common in traditional financial markets. It is easy to see your returns on stock and bond investments over time.

This is not the case when it comes to crypto.

The ever-changing gas or transaction fees associated with trading, along with the impact of slippage, coin supply expansion or contraction, and other elements make it difficult to determine your return on investment. The Jeet Receipt aims to change this.

Not only will The Jeet Receipt tell you your profits and losses on a coin, but it will also tell you what your returns could have been if you did not jeet.

Crypto markets are notoriously volatile. Thus, it is not uncommon for a seller to make a 100% return, for example, when they sell their coins. But what would they have made if they held their coin for another 2 weeks? Or 2 months? In some cases, the answer is astounding.

If you had purchased Uber Jeets on April 23 and sold on April 24 (it is not uncommon for buyers to sell within a day or less), you would have received a near 300% return on investment.

If you had instead held until April 28, your ROI would have been closer to 500%

If you had held until June 18, your ROI would have been over 10,200%.

Let’s look at some example numbers on this investment:

This is the power of the Jeet Receipt.

Not only does this encourage buyers to hold their investment, but it also encourages coin creators to structure their investments for long-term viability.

Otherwise, potential buyers can check the developer’s wallets to see past coins they bought and sold and if they jump out of projects quickly, that potential investor will look elsewhere for a better project. 

In short, the Jeet Receipt:

- Encourages prospective holders to seek out established, transparent projects. Holders can see the gains they missed out on for their past purchases, but more importantly, they now have a tool for better decision making. They can look at the wallets of whales and developers who are launching new projects to determine how they have managed past projects. 

- Provides a tool for developers to tout their past projects. For the developers looking to innovate in this space, they can use the Jeet Receipt to show the long-term performance of past projects, including their own buy and sell timelines. This gives would-be investors confidence in the new project and makes them more likely to invest.

The Foundational Product of the UberJeets Business Model

The Jeet Receipt will be hosted on UberJeets website, which will be launching soon. Because of the inherent value of this tool as described in the above section, we expect significant web traffic to the UberJeets website. This will allow for monetization of the website through paid ads, partnerships, affiliate marketing, and more.

Funds generated from traffic monetization will be used for a variety of purposes, all to the benefit of UberJeets holders:

The Jeet Receipt will be iterated upon with new functionality currently in the works. Here’s a sneak peek of the front end.

Price Action Dynamics of UberJeets

Because UberJeets’ vision of long-term viability through the Ethical Crypto framework will be cemented in the crypto markets, investors will have confidence that their funds are safe when they invest in UberJeets.

Of course, there will always be traders who have a near-term time horizon for their trades, and some of those traders will undoubtedly buy and sell UberJeets over a short time frame.

However, our market positioning encourages buying and holding as the foundational principle of the coin. Thus, it is likely that the buying volume of UberJeets will exceed the selling volume over longer periods of time.

Moreover, over 57% of the UberJeets coin supply is in doxxed wallets.

This gives potential buyers more confidence in the project, knowing that a certain percentage of the available supply is ‘locked up’ in wallets where the owners have committed to long-term investments.

These holders have committed to the long-term vision of UberJeets and will not sell a single coin until certain milestones are reached. At that point, they may sell small amounts over a long period of time to ensure their sales do not materially impact the price of UberJeets.

Expanding the Universe of Chads

UberJeets is laying the foundation for long-term viability of meme coin communities. Our goal is to make this the norm in crypto markets, and we are here to help you fulfill this vision as well.

If you would like to join our mission or learn how to create your own Certified Chad Community, join the UberJeets Telegram channel, or reach out to CJ_Penny on Telegram https://t.me/CJ_Penny or on X – https://x.com/HodlJeets