Meme Moguls tweaks $MGLS token distribution

Meme Moguls has modified the $MGLS token claim process due to escalating gas fees on the Ethereum network

GameFi and meme platform Meme Moguls has recently announced an update regarding the distribution of its $MGLS tokens. In a move to ensure fairness and accessibility for its community, the company has decided to modify its token claim process.

Initially, the plan was to conduct an airdrop of $MGLS tokens to its valued members. However, due to the escalating gas fees on the Ethereum network, the company has opted to forgo this method.

The decision was made after careful consideration of the challenges posed by the soaring gas fees, which could potentially hinder the overall experience for participants, especially smaller ones.

Instead of the airdrop, Meme Moguls has chosen to implement a streamlined token claim process. This alternative approach aims to facilitate easy access to tokens for all eligible members without the burden of excessive fees. The token claim date has been scheduled for April 14, providing ample time for participants to prepare for the claiming process.

The company emphasizes its commitment to fostering an inclusive ecosystem where all community members can participate without facing undue barriers. By prioritizing accessibility and fairness, Meme Moguls aims to ensure a smooth and equitable distribution of its tokens.

Community members are encouraged to stay updated for further instructions on how to claim their tokens.

Additionally, Meme Moguls announced an upcoming token burn event scheduled for March 29. This strategic move involves a deliberate reduction in the token supply, aimed at enhancing scarcity and increasing the value of each Meme Moguls token.

With a decreased supply, the platform expects to witness heightened interest from investors and a surge in trading activity. This event underscores Meme Moguls' commitment to community empowerment, with members playing a pivotal role in the platform's growth and success.

Furthermore, the token burn aligns with the platform's long-term vision for sustainability and expansion, ensuring a prosperous future for Meme Moguls and its community.

Meme Moguls emerged on the cryptocurrency gaming scene with its utility token $MGLS back in December 2023. Offering a diverse ecosystem that includes simulated investing, meme trading, staking, and rewarding gameplay experiences, the project aims to revolutionize meme coins.

Through features like staking pools, competitive elements, and integration of unique NFTs, Meme Moguls seeks to foster community engagement, attract new users, and drive demand for its token.

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Written by Silvia Pavlof

Silvia has explored various forms of writing, ranging from content creation for social media to crafting movie scripts. Drawing on her experience as a journalist specializing in the gambling sector, she is currently investigating the impact of cryptocurrencies and blockchain on traditional gambling and iGaming.

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