Lunch DAO or Lunch Token (LUNCH/USDT – Trade it here) was listed in MEXC Assessment Zone on May 30 with an opening price of 0.0008USDT. It’s highest price hit 0.0098 USDT, showing 1225% growth.
What is Lunch DAO?
Bidding for the “Power of One” charity auction lunch with Warren Buffett will open on Sunday, June 12, at 10:30 p.m. ET on eBay. At the same time, this will also be the last auction of Buffett’s lunch.
One of the companies in the cryptocurrency industry participating in this auction is named LunchDao, a community-driven autonomous organization that bids for power lunch with Warren Buffett in 2022 to promote Buffett and the traditional financial forces behind him to enter the crypto industry. The organization mainly raises target funds by issuing the Launch DAO governance token LUNCH, and uses the funds raised for the auction of “Buffett’s Last Lunch”.
LunchDao officially launched Juicebox on April 1st this year, with a total fundraising target of 2000 ETH. By the end of 00:00 AM UTC on May 28th, it has raised over 850 ETH, which is about 1.5 million US dollars. Although there is still a big gap from the amount of the last Buffett lunch auction, in view of the current global economy of the special political environment, this auction may have a low price bid, and Lunch DAO is expected to win the auction.
Lunch Dao (Lunch Token) Tokenomics
Users participate in this project by donating ETH to LunchDAO and getting LUNCH token as return.
- Exchange rate: 1:1,000,000
- Fund to rasie: 2000ETH
- Funding method: Users pay ETH in Juice Box, then get corresponding LUNCH token. Funding will end immediately after the donation amount reaches 2000 ETH. The extra amount will be refunded and considered invalid.
- Refund: LunchDao has designed a unique cooling-off period for refunds, and the refund cycle is three weeks. If you apply for a refund in the first week, you can get 50% of the investment amount back; if you apply for a refund in the second week, you can get 70% back; if you apply for a refund in the third week, you can get 90% back.
LunchDao NFT
- Dining Coupon NFT:All users that donate will receive a one-of-a-kind Dining Coupon NFT, which will be confirmed by their crypto address. The NFT will also have the option of being upgraded to a restricted rare NFT with a power lunch quota with Warren Buffett.
- Photo NFT: After lunch, users can take photos with Warren Buffet, then get the photo NFT.
- Digital NFT: LunchDao will collect questions from users, then publish answers during the lunch.Q&A will be minted as NFT and auctioned later.
Risk Warning
- Fail to bid: Until May 28, the total ETH raised is merely over 850, which is far below the plan before. Meanwhile, the price of ETH volatiles a lot, the cryptocurrency market is bearish with global economy trends down. According to LunchDao, if fail to bid, half of the funds will be used to track Warren Buffet’s investment assets, the other half will be used to invest in cryptocurrency. However, no matter stocks or cryptocurrency are all in weak performance. Investors should be careful about participation.
- Become a real meme: Will LUNCH become to the next DOGE or SHIB? LUNCH was added for less than three months and has a low rank at 2856 on CoinMarketCap. With the last bid completed, it will become a real meme token.Both price and market capitalization of this coin will be very volatile and traders should be extremely cautious while investing in LUNCH. After increasing dramatically recently, it is possible that this coin can go up drastically while it is equally likely that it may go down heavily.
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