Gorilla ($GORILLA)

What is Gorilla ($GORILLA)?

Gorilla ($GORILLA) is an Ethereum-based meme project aiming to redefine the crypto landscape by merging viral appeal with substantial utility.

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This innovative project offers an investment opportunity that transcends conventional meme tokens.

Meme coins are cryptocurrencies often depicted by comical or animated memes. While they typically possess little intrinsic value, they garner support from an enthusiastic online community. Dogecoin (DOGE) and Shiba Inu (SHIB) are leading names in the meme coin ecosystem.

Techopedia Explains

Gorilla, operating on a similar ideology, employs an ape-like animation. Beyond its status as a meme coin project, Gorilla distinguishes itself by providing significant utility to its online trading community.

The blockchain project offers a variety of non-fungible tokens (NFTs), which are digitized JPEG files showcasing rare and unique gorillas.

Each NFT possesses distinct values and characteristics, and a limited quantity is available in the Gorilla ecosystem.

In addition to its NFT functionality, users can stake their digital collectibles and earn new tokens called BANANAs. They have the same perks as the regular NFT collections and are easily tradable on the Gorilla ecosystem.

Furthermore, Gorilla offers unique features, including a decentralized cross-chain swapping platform, a vibrant tokenomics framework, and an IDO launchpad for crowdfunding funds for newly launched protocols.

Since its launch, Gorilla has swiftly garnered attention across the crypto sector due to its unique approach to the meme coin space.

As of 29 November 2023, the project has attracted over 1,596 investors who have added the GORILLA token to their crypto wallets. In terms of market capitalization, the meme token has surged to over $7 million within a short period.

What is the $GORILLA Token?

The Gorilla ecosystem relies on an in-built digital asset known as GORILLA. This token is fungible and follows the famous ERC-20 token standard.

The primary purpose of the GORILLA token is to serve as a payment mechanism within the ecosystem, facilitating transactions between users. However, its utility extends beyond a payment role.

Users can also:

  1. Stake GORILLA: Staking is a crypto asset practice where a digital token is locked up within a blockchain network to help support the network’s operations. This is done to prevent malicious actors from gaining a majority of resources and disrupting the smooth operation of the blockchain network. In return for locking up digital assets, stakers are rewarded with newly minted coins from the parent blockchain protocol.
  2. Speculate: Users can also speculate on the price movements of the GORILLA token on both decentralized and centralized exchanges. A popular decentralized exchange (DEX) where the GORILLA token is accessible is the Ethereum-based UniSwap platform. On the other hand, centralized platforms like MEXC Global and BitMart Exchanges allow investors to buy and sell the ERC-20 token on the spot market.

What Makes Gorilla Unique?

The Gorilla project operates under the distinctive slogan “Everything we do, we ape it!” – which differs from the norm among parody coin projects.

While projecting an image of swagger and a lifestyle choice that positions holders as part of an exclusive society, Gorilla’s distinctiveness extends beyond the surface. Below are some of its standout features.

IDO Launchpad

Gorilla features an initial decentralized exchange offering (IDO) Launchpad, a rarity in the meme coin ecosystem. An IDO is a crowdfunding method enabling blockchain-based networks to unveil their native tokens or coins through a DEX platform.

Gorilla provides an in-house crowdfunding space where new blockchain projects can easily launch their token presales and raise the upfront capital they need from willing investors. Notably, the Gorilla IDO Launchpad stands out by charging zero upfront fees.

Instead, blockchain projects are levied a 5% fee from the sales generated by their native tokens. With a commitment to giving back to the decentralized community, 50% of these fees are directed back to the Gorilla ecosystem for buybacks, liquidity, and listings on centralized exchanges (CEX).

Beyond these offerings, blockchain projects can seamlessly create whitelists, vest their native tokens, establish a user-friendly claims interface, facilitate refunds, and create liquidity pools (LPs), locking smart contracts – all in one space.

Projects can also turbocharge their presale process via the platform’s affiliate program.

The Gorilla IDO Launchpad team also provides in-house security through doxxing. They also carry out comprehensive know-your-customer (KYC) and audit processes to ensure that the whitelisted investors are humans and not automated malicious software.

Gorilla Cross-Chain Swap

With the proliferation of blockchain projects, the need for cross-chain transactions has become increasingly important in the Web3 ecosystem. Gorilla acknowledges this need and presents users with a cross-chain swap platform.

On Gorilla Cross-Chain Swap, users can easily swap one token for another using multiple blockchain protocols.

Instead of navigating different networks individually for swaps, all ERC-20 tokens can be exchanged for one another within the Gorilla ecosystem. This broadens the potential benefits for users and establishes interoperability between the involved blockchains.

There are other benefits of Cross-Chain Swap:

  • Preserving Token Value

Beyond facilitating swift token exchanges, the cross-chain swap feature can help investors protect their token value.

  • Efficient Trading Opportunities

Additionally, interacting with multiple blockchain protocols makes it easy for users to reap the benefits of each one of them.

For instance, larger and less efficient networks are often slow and expensive. With Gorilla Cross-Chain Swap, users can swap tokens on layer-2 scaling solutions like Polygon, ensuring faster transactions and reduced fees.

  • Enhanced Yield Opportunities

Other benefits include unlocking better yields for holding or staking tokens across other networks rather than the parent protocol.

  • AI-Powered Trading

In addition, the feature also comes with artificial intelligence (AI) trading, which allows users to use sophisticated software to mirror the trading strategies of expert traders directly across multiple networks.

  • Combining Centralized Features with Decentralized Ethics

Lastly, Gorilla Cross-Chain Swap infuses features of a centralized platform with the decentralized ethos of a DEX. This is due to the stop-loss limit feature, principally found on centralized exchanges.

With this tool, users can limit risk exposure and directly automate their trading process by setting buying and selling price values.

Mad Gorilla NFT Collection

Breaking away from the confines of the joke crypto asset niche, Gorilla introduces an in-house NFT Collection known as the “Mad Gorilla” of the Mad Gorilla Unified Cryptonairs Collection #MGUC.

This digital collectible has a limited supply of only 3,333 NFTs and features apes with unique traits. Investors can buy and sell them for profit. Alternatively, each MGUC can be directly staked to earn BANANA tokens as a reward.

This way, holders of the NFT collection can generate passive income and accrue much-needed points to acquire one of the 100 exclusive “Mad Gorilla” NFTs on a unique 1:1 basis.

Users also earn a 5% royalty commission on the secondary sale of their digital collectibles. They can also participate in exclusive events and unlock unique benefits and experiences within the platform.

GORILLA Tokenomics

The tokenomics of the Gorilla protocol is quite interesting. The project has a total supply of 1 billion GORILLA tokens, with approximately 900 million currently in circulation.

While the figure of 1 billion may seem substantial, Gorilla’s token supply takes a more cautious approach when compared to giants such as Dogecoin, which has an infinite supply, and Shiba Inu, which boasts over a quadrillion tokens in its repository.

This makes Gorilla an appealing investment for meme coin enthusiasts, as its value holds the potential to rise significantly due to growing demand and a limited supply. Additionally, 0.5% in fees are charged for both buy and sell transactions on the Gorilla ecosystem.

Below, we provide more details on the project’s tokenomics:

Groups Amount Distributed
Liquidity 70% of total supply
Burn 10% of total supply
Marketing 4% of total supply
Exchange Funds 1 4% of total supply
Exchange Funds 2 4% of total supply
Staking/Farming 4% of total supply
Treasury 4% of total supply

The Bottom Line

The Gorilla meme project offers a distinctive perspective on meme coins. Instead of offering users only an online community, it provides real-world value for holding the GORILLA tokens.

With features like seamless cross-chain swaps and an accessible platform for blockchain projects to initiate presale programs, Gorilla simplifies the onboarding process for anyone venturing into the crypto space.

However, crypto assets are inherently volatile and lack regulation. Interested investors are advised to conduct thorough research to verify the project’s authenticity and assess its potential for the future.

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Jimmy Aki

A graduate of the University of Virginia and now based in the UK, Jimmy has been following the development of blockchain for several years, optimistic about its potential to democratize the financial system. Jimmy's previously published work can be found on BeInCrypto, Bitcoin Magazine, Decrypt, EconomyWatch, Forkast.news, Investing.com, Learnbonds.com, MoneyCheck.com, Buyshares.co.uk and a range of other leading media publications. Jimmy has been investing in Bitcoin himself since 2018 and more recently in non-fungible tokens (NFTs) since their boom in 2021, with expertise in trading, crypto mining and personal finance. Alongside writing for Techopedia, Jimmy is also a trained economist, accountant and blockchain…