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Have you heard of yet another meme coin that pumped after Elon Musk tweeted about it? What if we tell you that this time, it has a whole history to it? If you were confused as to what is LADYS and if it is worth your time, you are in the right place. Learn more about the latest meme token craze in our new guide.
Key Takeaways
- The Milady meme coin (LADYS) is exactly what the name implies: a meme coin that references the Milady Maker NFT collection;
- The token was launched by an anonymous team and has no affiliation with the NFT collection or its creators. Its airdrop was distributed to Milady Maker NFT and PEPE holders;
- There are no current plans to enable using LADYS for anything other than trading. Even so, the community is warning that the “whales” control a significant portion of the available supply.
What is Milady Meme Coin (LADYS)?
Milady Meme Coin (LADYS) is described in many vague terms and esoteric definitions. It is “the tokenisation of the fully memetically optimized white pill”. It is “a self-organised meme coin”. It is a “drip currency” and the “accumulation of clout”. What all these nonsensical and clearly ironic phrases obscure is that LADYS is a meme token with no inherent value other than one that is ascribed to it by a community.
The meme coin’s web page calls the token an homage to a beloved NFT collection. The collection in question is Milady Maker, a set of 10 thousand profile image NFTs by Remillia Collective. It draws on the “neo-chibi aesthetic, inspired by the street-style tribes of Tokyo’s modern pop culture”.
The collective is led by a person known as Charlotte Fang, although they have also been known as Charlie and Charlemagne. Aside from the role behind this and related collections and the names, not much is known about Fang and therefore, is a subject of much speculation.
The meme token team, however, explicitly states on the official website that they are not affiliated with the NFT collection’s creators. They use the brand to “[pay] homage to a NFT collection we all love and recognize”.
The total supply of the LADYS token is 888,000,888,000,888, and 94% of it has been locked away in a liquidity pool on Uniswap. The remaining six percent are split as follows: 5% held in a multisig wallet at a domain miladymeme.eth for the needs of the project and 1% was airdropped to PEPE and Milady NFT holders. The airdrop was held from May 8 to May 15, 2023, and all 8,880,008,880,008.88 LADYS (1%) seem to have been either claimed or burned.
How to Use LADYS Coin?
The Milady Meme Coin people are brutally honest: the token has only memetic value. There is no product or platform that can potentially bring profits associated with it. As of now, the only use for the token is to trade it.
There are no solid plans to make it anything more than a meme coin in the future, either. The five percent set aside for future use by the contract owner(s) is supposed to go toward listings, bridges, and liquidity. In other words, there are no planned uses for the token other than to trade and “for vibes”. But it can always change.
Incidentally, there have been examples of meme coins reclaimed by their communities. For example, Poodl V2 came to be after the initial founders pulled the rug on the first buyers, and now this community is trying to kickstart an NFT- and charity-focused project.
Comparison with Similar Projects
The most similar project in recent memory is, of course, PEPE. This token seems to have started the current trend for meme coins with purely memetic value. Previously, meme coins and “dog money” had to have at least a semblance of a working project or a value offering. PEPE emerged with the premise of capitalizing on the potential of memes — nothing less, nothing more.
Arguably, the same could be said for Dogecoin around the time of its launch. The original meme coin started out purely as a joke but was picked up by the community that managed to ascribe value to it and even find use cases in tipping and charity. Unlike PEPE and Milady Meme Coin, Dogecoin had to endure years of obscurity before truly blowing up in 2021.
Is LADYS Controversial?
The NFTPriceFloor resource for information about NFT collections has a surprisingly long list of controversies that have to do with Milady Maker and Charlotte Fang. The collective came under fire for the CEO’s alleged links with a neo-Nazi community and hateful conduct under a different alias.
The dubious connection to the alt-right ideology (or lack thereof) is especially ironic considering that the PEPE token has just recently caught heat for the same reason.
Even if you do not care about the NFT collection that the project is referencing or its creators, the crypto community is sounding the alarm about the token itself. On-chain analysis of the movement of funds points to the high degree of influence that “whales” (holders of large quantities) have on the coin. This influence is not limited to merely accumulating a portion of the available supply: token contract owners have even blacklisted some of the “whales”. This fact and their transaction history hint at possible insider trading.
Does LADYS Have A Future?
Without a clear use case, what will secure the future of this token? The website has a roadmap for the near future but it reads more like a joke. The milestones in it range from concrete goals like exchange listings to nebulous formulas such as “becoming the quintessential token for internet spirituality”. Quite on-brand but not exactly inspires investor confidence.
Does it mean that the bleak future of the Milady Meme Coin is already inevitable? Not really. As it is now, it will be traded only for as long as the interest in it lasts, and the community can’t fan the flames forever. At the same time, some examples we already mentioned show that such projects can take a turn at any time.
LADYS on Twitter
— Elon Musk (@elonmusk) May 10, 2023
Here is the tweet that kicked off the craziness surrounding this coin. It continues a long tradition of latching to a meme coin that refers to anything Elon Musk has ever said (looking at you, BABYDOGE and FLOKI).
This is awesome https://t.co/NfB0e3Kapd pic.twitter.com/hZA9E89LNq
— ♡ Charlotte Fang 🐉 Crown Prince (@CharlotteFang77) May 13, 2023
The original Milady Maker and Remillia Collective fans are not very happy with a sudden influx of hype in the crypto community, calling the token team “grifters”. Charlotte Fang seems to be intrigued though, even if not endorsing the project.
Update:
— Lookonchain (@lookonchain) May 17, 2023
These suspicious addresses deposited 12.4T $LADYS ($1.2M) to exchanges again 8 hrs ago.
Currently hold 118.6T $LADYS ($11M), and deposited 102.5T $LADYS ($9.5M) to exchanges in total.https://t.co/u6Xy1igGb7 pic.twitter.com/if3PCqKY6D
On-chain sleuth Lookonchain keeps an eye on the movement of LADYS and its price. They were the first to know about the involvement of DWF Labs, a controversial market maker startup, in LADYS. In their account, they also dispel the notion that trading meme coins is a sure way to get rich quickly.
What Wallet to Use for Milady Meme Coin?
As an ERC-20 token, LADYS can be viewed and accessed in the crypto wallets compatible with this standard. The official guide to purchasing the token recommends Metamask. It’s the go-to choice of many crypto enthusiasts but some alternatives you may want to consider are MyEtherWallet, Atomic Wallet, or Trust Wallet.
LADYS is already listed on some centralized exchanges like Bybit, Gate, and Huobi, so the tokens can be kept on the exchange account balance. An important thing to keep in mind, in this case, is that you entrust your tokens to the exchange. If you don’t want to lose them, withdrawing the funds you would not want to lose to a non-custodial wallet is the best course of action.
How To Get LADYS?
If you want to buy or sell Milady Meme Coin with crypto and need a refresher on how ChangeHero works, we’re here to help:
- Choose the currencies on the home page, amounts, and the type of exchange. Provide your LADYS wallet address in the next step and check the details;
- Double-check the provided information, and read and accept the Terms of Use and Privacy Policy. Please note that the LADYS version on Arbitrum is not supported;
- Send the cryptocurrency for the swap in a single transaction. In Fixed Rate transaction you have 15 minutes before it expires;
- Sit back and relax. At this step we are doing all the work: checking the incoming transaction and doing the exchange as soon as it arrives;
- As soon as the exchange has been processed, your LADYS is on its way to your wallet. And so, the transaction is finished!
If you ever run into any issues during your swap, our support specialists are always available to help you in the chat or through the email: [email protected].
Haven’t got any crypto yet? We got you covered: buy any crypto with a bank card, ApplePay, or GPay from our partner and swap it afterward for LADYS on ChangeHero.
Conclusion
Despite all controversy surrounding the project, the Milady meme coin is trending on social media and coin trackers. The coin is barely a few weeks old, and a while later it can spin a completely different story.
If you enjoyed our beginner’s guide, check out the ChangeHero blog for more. Follow ChangeHero on Twitter, Facebook, Reddit, and Telegram for daily updates and more content.
