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Vlad Gorbunov, founder of the <a target="_blank" href="http://choise.ai” target=”_blank” rel=”nofollow”>election.ai ecosystem, discusses the future of the meme coin space and explains how the new team meme bank can transform the industry by providing meme coins with utility-based features such as token burning and staking rewards, along with real-world applications such as payments via Visa/Mastercard bank cards with custom designs.
CN: Vlad, can you give us more details about the future of the meme coin sector? Do you think meme coins can go from hype-driven assets to strong long-term performers, especially in light of recent headlines about meme coin hype cooling?
VG: Meme coins are a quintessential reflection of the new investment culture. At first glance, they might appear to be frivolous creations with no intrinsic value, acquired solely for entertainment or speculative purposes. However, it is worth noting that bitcoin was once in a similar position. In its early days, bitcoin had no tangible value: its value was based on a collective belief in its potential. This phenomenon reflects broader financial markets, whether in stocks or other investment spaces, where community trust helps companies achieve valuations 100 or 200 times their annual revenues or profits.
Similarly, meme coin communities, often made up of millions of people, hold their tokens not because of their inherent utility but because of a shared belief in the future of the token. For some, the appeal lies in the humor or ideology behind the memes; For others, it is the perceived “uselessness” that makes these coins intriguing. Memes themselves have become intertwined with events and various ideas, firmly embedding them in modern cultural expressions.
So meme coins have solidified their place as a phenomenon that's not likely to go away anytime soon. Its market capitalization continues to set records, with year-to-date price changes exceeding 10,000%. As one of the fastest growing niches in the bull market, meme coins now rank fourth behind coins, chains, and stablecoins. The world's most influential people, such as Elon Musk and Donald Trump, align themselves with meme coin culture, demonstrating their understanding of the movement that resonates with large audiences.
Market researchers project that the meme coin sector has the potential to exceed $1 trillion, indicating that we are at the beginning of a new cycle that could drive mass adoption. However, can meme coins become sustainable long-term investment vehicles? The answer is probably no. They are more likely to remain speculative instruments, prone to generating astronomical returns. Take for example $POPCAT, which alone has risen more than 6,400% in 2024. However, this dynamic is not entirely different from other cryptocurrencies. Ultimately, the driving force behind meme coins is the same as any digital asset: community sentiment. One thing that can improve the position of meme coins is utility. And this is where Meme Bank comes into the picture.
CN: But how can Meme Bank ensure that its utility-based approach will resonate in a market that prioritizes emotion over real value?
VG: The goal of Meme Bank is not to diminish the emotional value, enthusiasm, or hype surrounding meme coins; in fact, it amplifies them by transforming this energy into a basis for creating custom products that power specific meme coins with practical use cases. These products enhance the functionality of meme coins, offering features that integrate them into everyday activities. By doing so, Meme Bank not only strengthens and expands the utility of meme coins, but also increases their visibility and investment attractiveness.
CN: Can you give us more details about the utilities that Meme Bank will provide to meme token holders and what are the possible use cases?
VG: Utility refers to a currency's ability to perform specific functions that provide tangible benefits or support a broader economy. Take Binance Coin, which creates steady demand through clear functionality, including reduced transaction fees of 25-30% on Binance. Furthermore, holders who stake BNB contribute to its ecosystem, as parts of the token are used, burned or bought back, ensuring its active integration within Binance operations.
In the world of meme coins, communities like BONK occasionally distribute nfts or rewards to top holders, but such initiatives stop short of offering true utility. Acting as a crypto bank for meme coins, Meme Bank will allow these tokens to serve as functional currencies for transactions, exchanges and withdrawals. Users can even issue Visa and Mastercard cards with unique meme designs, deposit their meme coins into these cards, and use them globally for purchases, bill payments, and more.
These handy apps will also generate revenue through the transaction fees that users pay when they send meme coins to a card or make any other transaction. These revenues can be further reinvested into the ecosystem. For example, if one million transactions generate $10 million in fees, $5 million could be allocated to reduce the supply of meme tokens through buybacks and burns, increasing scarcity and value. Alternatively, users can stake their meme coins within the Meme Bank ecosystem and get a share of the revenue as a reward. Through these mechanisms, Meme Bank will foster stronger and more engaged meme coin communities.
Initially, Meme Bank will focus on working with meme coin communities, developing customized solutions to meet their specific needs. Over time, the platform will open up to broader participation, allowing any community to vote for a given meme coin to get a dedicated meme bank platform. Governance will be community-driven through DAO mechanisms, allowing members to influence key decisions such as card designs, transaction fees, and other banking features.
CN: The CHO token will be integrated into every Meme Bank transaction. What advantages and benefits will this bring to the Choise.ai ecosystem?
VG: Resources to develop Meme Bank are provided by Choise.ai and Vault, a leading provider of white label crypto banking solutions. They equip Meme Bank with the infrastructure necessary to launch meme banks quickly and efficiently.
Vault already supports more than 50 companies worldwide and typically generates revenue by charging customers for its services. However, with the Meme Bank platform, meme coin communities will be able to launch their own dedicated meme banks without requiring licenses or significant upfront investments. Instead, Vault will leverage the Meme Bank project to showcase its own solutions to vibrant meme coin communities at scale, powering millions of transactions.
Choise.ai and its extensive community of CHO token holders will benefit from each of these transactions. A portion of the proceeds will go toward burning CHO tokens, increasing their scarcity and value. This process will take place seamlessly in the background, without affecting the meme coins. To ensure transparency and encourage participation, real-time dashboards will display burning volumes.
Choise.ai and Vault strongly believe in the great potential of meme coin communities. The three major meme coin ecosystems (DOGE, SHIB, and PEPE) already have over 7 million token holders, many of whom are actively profiting from these assets or aspire to do so. Meme Bank represents an innovative initiative to further unlock this potential, driving meme coin trading far beyond its current 11-digit volume.
CN: If you could sum up Meme Bank's mission in a single word or phrase, what would it be?
VG: Meme Bank's mission is to become the leading utility provider for meme coins, elevating their functionality while maintaining their emotional appeal.
