The world is in quarantine, people are not permitted to work, and governments are doing what they can to keep the economy afloat during the Covid-19 pandemic. In the United States, the Federal Reserve is buying back securities to add money to the economy. That tactic, called “quantitative easing,” is done so that banks will then loan money to those who need it at lower rates. That loaned money would be used to make purchases, which would, in turn, stimulate the global markets.
But what about the meme economy? Who will bail out the struggling dank meme designers and help stimulate creation of crypto memes in the world?
Today, the Maker Foundation, in partnership with Dharma, introduces Memetic Easing—a new (cough, cough) “monetary policy” through which Maker will buy back your dankest memes from now until May 26.
Any enterprising visionary or anyone just plain tired of sitting in place can score some Dai by creating a meme and sharing it on Twitter with the hashtag #Dai4Memes. Each meme shared means a chance to win 1-5 Dai, delivered on the social media platform by Dharma.
With Social Payments, Dharma’s newest feature that allows payments via Twitter, anyone with a Twitter username can send and receive Dai instantly. Memetic Easing just makes the transfer even more fun.
Maker’s Memetic Easing Facility is now open and stocked with 5,000 Dai.
Tweet your meme when ready; the process is simple:
After receiving a tweet from @MakerDAO, simply click the unique URL provided, download the Dharma app, connect your Twitter account, and the Dai will be waiting for you, already earning savings.
Once you’ve received your Dai, there’s plenty for you to do with it, including sending some to friends, so they can discover how easy it is to get Dai and earn from it on Dharma.
The Coronavirus has really cramped our collective styles and sucked a good deal of dank from our memes. We must get back on track and revitalize the comic relief the crypto community is known for in times of stress. Get your meme on, and share your creations on Twitter now. Then, keep your eyes on our Instagram page to see all of the great contributions.
MakerDAO is a decentralized organization dedicated to bringing financial stability and transparency to the world economy through the Maker Protocol, an inclusive platform that enables the generation of Dai, the world’s first unbiased currency. Dai is a decentralized, asset-backed stablecoin that lives completely on the blockchain, making it borderless and available to anyone, anywhere. Though currently on the Ethereum blockchain, Dai is built to be blockchain agnostic.
From Dharma’s FAQs: “Dharma is the world's first cryptobank. It does everything a normal bank does, but it's not a bank. Using Dharma, you can deposit and withdraw stablecoins, cryptocurrencies pegged to the value of $1 USD, anytime, day or night, and earn interest instantly. From Argentina to Zimbabwe, we make it easy for you to save your dollars and earn a high rate of return, instantly.”
Disclaimers (Legal jargon): Must be 18 or older to submit a meme for entry. The Maker Foundation and Dharma cannot guarantee that any #Dai4Memes entrants will receive Dai. Limit one Dai award per entrant. In order to be considered, all entries must be posted in accord with the above rules between May 20, 2020 and May 26, 2020.