Crypto All-Stars (STARS), a new meme coin staking platform on Ethereum, has just passed the $1.3 million milestone in its ICO phase.
The platform allows users to stake popular meme coins like Dogecoin and DogWifHat – earning STARS rewards in the process.
Crypto All-Stars introduces MemeVault for staking meme coins
Crypto All-Stars’ team aims to change how investors engage with meme coins.
Rather than simply holding on to them, the team offers an alternative approach through the “MemeVault” feature.
This feature will provide more utility to popular meme coins.
Using the MemeVault, an investor could stake coins like DOGE, PEPE, and WIF to earn STARS tokens over time.
STARS is Crypto All-Stars’ native ERC-20 token.
Through this setup, investors can put their meme coins to work, instead of just holding them as a speculative asset.
According to Crypto All-Stars’ whitepaper, the team’s ultimate goal is creating a “hub” for retail investors seeking to generate passive income.
Alongside the MemeVault, Crypto All-Stars has a secondary staking app for STARS.
STARS holders can lock up their tokens to earn additional rewards, encouraging long-term holding.
This setup has attracted attention in the crypto community.
Crypto All-Stars’ X (formerly Twitter) page now has over 12,500 followers, while the official Telegram channel has 2,000 subscribers.
STARS has also been ranked third on CoinSniper.net.
STARS ICO raises $1.3 million ahead of planned DEX listing
The Crypto All-Stars ICO launched on August 10th and has already raised $1.3 million.
Funds have been coming in steadily, with tens of thousands of dollars being added daily.
The ICO allows investors to buy STARS tokens before they become available on the open market.
Tokens are currently priced at $0.0014477 each.
Those who decide to invest in the ICO can also stake their purchased STARS tokens right away.
However, investors can only claim their tokens once the ICO phase ends.
After the ICO, the Crypto All-Stars team plans to list STARS on a DEX.
The team has allocated 10% of the total STARS supply for initial DEX liquidity, with a further 20% reserved for marketing.
In terms of security, Crypto All-Stars has undergone audits by two well-known firms, Coinsult and SolidProof.
These audits evaluated the project’s smart contracts and security.
Both found no vulnerabilities and are available to view on Crypto All-Stars’ website.
Retro design & YouTuber shout-outs help boost Crypto All-Stars’ visibility
Crypto All-Stars is also bringing a unique design to the table.
This design, reminiscent of classic video games, sees famous meme coin mascots reimagined as 8-bit characters.
The team hopes to distinguish Crypto All-Stars from the countless dog and cat-themed coins that dominate the space.
And this approach seems to be working.
YouTubers like ClayBro and Austin Hilton have mentioned the project, boosting its visibility.
STARS has even been discussed by 99Bitcoins – a crypto YouTube channel with over 700,000 subscribers.
What’s also notable is how Crypto All-Stars has maintained momentum while the broader meme coin market has struggled.
Over the past week, the total market cap of all meme coins has dropped below $38 billion.
Yet, the STARS ICO continues to perform well.
While it’s unclear whether this success is due to timing, strategy, or luck, Crypto All-Stars is undoubtedly capturing investors’ attention.