GateLive AMA Recap-WHY

2024-08-16, 08:56

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![](https://gimg2.gateimg.com/image/article/1723798371why.png)

## Q1. How did WHY start?

Well, it’s a crazy story, actually. It all started on March 21, 2024. Two close friends in Singapore went through a rough time. One of our founders, Bob, had his girlfriend buy BOME, which earned her a 100x profit after Bob advised her against investing in memecoins due to their volatility. Despite his intentions, she sent him a breakup message, blaming him for telling her not to “all in” on altcoins while celebrating her success.

Bob, who is bipolar, was devastated and confused, asking himself, "Why?" repeatedly. Seeking help, he talked to James that night, focusing solely on his emotional distress. Meanwhile, meme tokens were skyrocketing.

James linked Bob’s situation to not jumping in on those meme investments. During their intense discussion, James repeatedly shouted "why," reflecting their confusion and breakdown. By early morning on March 22, they registered madphant.com, and WHY was born in James’s hotel room.

WHY represents that:
-Crypto is bipolar, with bipolar traders in a bipolar market.
-Don’t ask "Why an Elephant," the focus is on the one and only $WHY.

## Q2. Why build on BSC?
We chose to build on Binance due to its robust infrastructure, scalability, and mature, supportive community. In 2021, BSC was the top space for meme coins, making it nostalgic for OGs and a cornerstone in meme history.

Although <a href="/id/price/bnb-bnb" target="_blank" class="blog_inner_link">BNB</a> Chain hasn’t had much of a voice for new memecoins recently, we aim to change that by building a new meme coin with the theme of making BSC great again. WHY is now the face of BSC!

## Q3. Any advice for developers on successfully launching a new memecoin in today’s landscape?
Absolutely! For developers launching a memecoin, building a strong, engaged community with transparency is crucial. Focus on fostering authentic engagement, providing regular updates, and listening to feedback. It’s also important to have a unique value proposition.

Key points:
1.Healthy liquidity is essential. We buy back upon launch, and token ownership is renounced to build trust.
2.To maintain a balanced ecosystem, top holders control less than 10% of supply, with a one-year lock to avoid market disruptions.
3.Our smart contract is verified on BNB Chain for transparency and security.
4.Narratives are key. Our project isn’t just an investment; it’s a shared journey with compelling designs and stories.

## Q4. Could you provide some examples of successful initiatives that encourage community participation？Where do we start?

1.We prioritize adding value to our community. We’ve partnered with Four.Meme for a meme contest and were the first memecoin to receive liquidity support from BNB Chain as part of the Binance Hero’s LP Support program. We host weekly AMAs with platforms like Gate.io, BNB, and Four.Meme.
2.We had an amazing in-person event at <a href="/id/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> 2024 in Nashville with BNB Chain and have more events planned.
3.We’ve been listed on Bitget, now Gate.io, and we continue making it easier for people to engage with WHY.
4.We are highly active on Twitter, Telegram, and IG, constantly engaging with our community, getting feedback, and sharing fun content.
5.NBA player Tristan Thompson has also shown support, which is really cool!

## Q5. What’s next for WHY?
1.From the beginning, we’ve been focused on the long game. We’re still a new token, but we’ve already become the face of BSC meme. We’re aiming for a $1B market cap, and we’re confident with our momentum, strong foundation, and limitless potential.
2.We plan to host more AMAs, provide more value to our community, create more memes, and participate in both virtual and in-person events, as well as getting listed on more Tier 1 exchanges.
3.Stay tuned! We have some exciting announcements coming soon.

<div class="blog-details-info">
<div>Author:** GateLive**, Gate.io Team
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

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