An Overview of Ham Coin

By  Will McKinnon June 6, 2024

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Introduction

Ham Coin ($TN100x) is one of the biggest memecoin communities on Base, and with some exciting upcoming updates it's about to get even bigger. Ham's mission is to empower social connections with fun experiences, through things like tipping friends with Ham, interacting on Warpcast, and soon there will be an entire Ham Chain to hang out on. In this article, we'll dive into all the new things the Ham team has been working on.

Ham Coin

Ham, also known as $TN100x ("The Next 100x") originally launched in March earlier this year and has seen massive growth to over 35,000 holders at time of writing. Through social campaigns on primarily Warpcast, the community continues to grow today. One of the main utilities of Ham is that it can be tipped to other people simply by replying to their message on Warpcast with an emoji. This tipping culture has fostered a tight knit community similar to the $DEGEN memecoin which is the main memecoin of Warpcast, and has helped the rapid growth of the coin itself.

PHAM

One of the more recent developments from the Ham team is the launch of the innovative $PHAM (pronounced "fam") token, which is a memecoin backed by 6 other memecoins on Base. The idea is to bring together 6 distinct Base memecoin communities while offering holders of $PHAM the opportunity to have exposure to all of them through a single token. It is designed to function as an index for those 6 tokens which also generates auto-compounding yield through volatility farming and potentially $AERO emissions from top DEX Aerodrome in the future.

The tech behind the coin may sound complicated, but all you need to know is that as the 6 coins behind $PHAM ($BMX, $DEGEN, $DOGINME, $TYBG, $TN100x, $CHAD) appreciate in value, the $PHAM index will also appreciate. In order to mint new $PHAM tokens, you need to have tokens from each of the 6 communities listed above. However, the Ham team has made this process easier by implementing a zapper feature which lets you instantly swap into the required tokens and create new $PHAM. Aside from marketing and community growth benefits, the partnered memecoins also potentially stand to gain from inflows to their own tokens from the interest in $PHAM.

Ham Chain

As of June 5th, the Layer 3 network Ham Chain is officially live for users and projects alike! The vision is to be both an Ethereum and Superchain aligned L3 blockchain. Ham leverages the Optimism (OP) stack for its chain as well as Ethereum (ETH) as the gas token for the network. As an L3, transactions are very fast and efficient with minimal fees, making it an ideal place to build for protocols interested in joining the Ham community. Some of the protocols launching on Ham chain include NFT AMM marketplace SudoSwap, blockchain data provider Airstack, and blockchain explorer Once Upon.

Conclusion

Memecoins have been the leading narrative this cycle both in terms of attention and trading volume, and so it makes sense that a leading community sees the need for a personalized chain to build upon what they've already done. With over 30,000 members of the Warpcast channel and over 35,000 holders of the token itself, Ham is well positioned to take advantage of its own chain with a budding ecosystem.

The innovative $PHAM token incorporates a lot of DeFi concepts which is unusual to see in a memecoin and certainly sets Ham apart from other memecoins on the Base network. In combination with a new chain and a budding ecosystem along with their rapidly growing community, Ham is definitely one to watch. Be sure to check out the brand new Ham Chain and the apps being built upon it, and you can find Ham on Twitter and Warpcast if you are interested in learning more.