Puzzle runs solution to make memecoins smarter

LiqLock was launched in May, 2024 as a tool for smart liquidity lockage and has mostly been used by the memecoin project Pete valued at $1mln market cap, with over $10,000 in liquidity locked through the LiqLock platform.

Pete's price performance after utilizing LiqLock proved the potential for the tool and its ability to transform the memecoin market. We consider the launch of LiqLock to be a significant success.

People are tired of usual memecoins. Time is coming for memecoins with smart mechanics behind them to shine.

We are excited to announce that, based on the LiqLock1 success, we are launching LiqLock2, which offers more advanced mechanics and features for liquidity management and community engagement.

What’s new in LiqLock2

We are launching LiqLock2 with improved functions and mechanics targeting the incentivization of the whole community. The main innovation is that once the target price is reached, the locked LP tokens are automatically withdrawn to the collateral assets and used as follows:

• Asset1 (the meme token) to be burned, reducing the total supply of tokens in circulation.

• Asset0 (USDT) will be distributed among all meme token holders. In the case of the Pete project, the tokens will be distributed through a staking contract, meaning that only those staking Pete will receive the tokens. This is designed to incentivize staking and generate additional interest from the community.

This differs LiqLock2 from the previous version, where the unlocked LPs were received by just one trader. LiqLock2 aims to incentivize the whole community instead!

LiqLock2 is available in the new smart contract by the address 3PEYw8BkEzYwk4NXEDdDDAanyduYZPCEbYr.

How to use LiqLock2

To redeem the tokens once the target price is reached, follow these instructions based on the current setup of the Pete project, where the unlock will occur once the target price of $2 is reached:

1. As soon as the meme token price reaches the target value, anyone can visit the Waves Dapp page

2. Then, you need to call the function submitAchievement (see the screenshot below), specifying the Pete lock ID as an argument: G7k3qxymroz3yujBoWsnp8ejxtbAwDWKJbJmqBWboZqH.

If you want to lock your liquidity using LiqLock2, follow these steps:

1. Go to the same Waves Dapp page

2. Call the function lockLiquidity, specifying the parameters of your lock (asset0, asset1, target price, etc.)

3. Complete the transaction

This simple process allows any project manager to take advantage of liquidity locking under the conditions they set for their community.

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We continue to develop LiqLock and hope that LiqLock2 will mark a new phase in expanding opportunities for users, while also unlocking additional use cases for the Puzzle community and benefit PUZZLE. Let’s make memecoins smart!!!