Pepe Unchained Raises Millions For a Memecoin-Fueled Layer 2

The team behind the Pepe memecoin is launching an Ethereum Layer 2 and degens are pouring millions into the project.

Users have currently piled in nearly $8 million into the pre-sale of the new token, called PEPU. One PEPU token is on sale for $0.008, and users can purchase them with ETH, USDT, BNB or a credit card.

Traders who stake the token can earn rewards, which will be distributed at a rate of 608 PEPUs per Ethereum block, according to the website.

The original Pepe token is up 3% today, and has multiplied by five in the past year.

The team says its new ecosystem will offer instant and low fee bridging between Ethereum and Pepe Chain, 100x the volume capacity of Ethereum, and a dedicated block explorer to see all transactions.

“The time has come for Pepe to take a giant leap into his ultra-based future,” reads the Pepe Unchained website. “By inseminating the world with L2 technology, Pepe Unchained becomes an absolute Giga Brain. He’s now ready to release his rewards.”

According to the project’s website, there will be a total supply of 8 billion PEPU tokens, which will be divided into six categories.

Marketing will receive 20%; liquidity pools for DEXs are earmarked at 10%; a category called “project finance” gets 10%; “chain inventory” will also receive 10%; the presale, or “the frens that get in early, and help Pepe break free of his chains,” gets 20%; and 30% is aimed for staking.

Pepe Unchained’s Layer 2 will be released once the pre-sale has ended.