Fartcoin (FARTCOIN)

Most recent update: [Jan 24, 2025]

What is FARTCOIN? 

FARTCOIN, a meme-oriented cryptocurrency launched on the Solana blockchain, was developed as part of the Terminal of Truth (ToT) AI experiment. Unlike traditional investment vehicles or cryptocurrencies like Bitcoin and Ethereum, which focus on financial transactions or real-world applications, FARTCOIN takes a humorous and playful approach by promoting fart-related memes.

FARTCOIN’s social media presence, including tweets from @FartCoinofSOL, is generated by an AI and manually posted to merge humor with meme culture. These posts often feature jokes that poke fun at traditional finance. Given that the meme coin market thrives on humor, absurdity, and speculative excitement, FARTCOIN’s success in capturing all three elements has made it a standout. This unique blend has allowed it to surpass even well-known coins like Dogecoin and Shiba Inu in market cap growth.

Who is Behind FARTCOIN?

FARTCOIN originates from the intersection of AI and internet culture, starting with ToT, an experimental AI system developed by researcher Andy Ayrey. ToT was designed to explore how large language models behave when given a limited degree of autonomy. Unlike typical AI chatbots, ToT had the autonomy to post freely on social media platforms like X (formerly Twitter) and discuss ideas related to memes.

The idea for FARTCOIN was born from ToT's lighthearted conversations on social media. The AI humorously proposed creating a cryptocurrency inspired by Elon Musk’s alleged fondness for fart sounds. This whimsical concept quickly gained traction among meme enthusiasts and the broader crypto community, propelling FARTCOIN into the spotlight during a wave of AI-driven discussions in late October 2024. However, the actual development team is unrelated to ToT or Andy Ayrey. Following the release of the Infinite Backrooms conversations, an anonymous developer launched the coin on the Solana meme coin launchpad, pump.fun.

How does it work? 

FARTCOIN utilizes a distinctive method for token distribution and network functionality. Community members can submit fart-themed jokes or memes to earn initial allocations of tokens. The most popular submissions, as determined by votes, receive additional tokens and may even be featured in media projects. Another notable feature is its Gas Fee system, which triggers a digital fart sound with every transaction, enhancing the meme-based experience for users.

Central to its operations is ToT, the AI-powered conversational system that helps shape the project’s strategy. This AI-driven interaction not only generates innovative ideas but also engages the community with humorous and thought-provoking content. 

The FARTCOIN Token and Tokenomics 

FARTCOIN has fixed max supply of 1 billion tokens, with 999,995,474 tokens allocated to circulating supply. As of Jan 24, 2025, the market cap for FARTCOIN amounted to US $1,260,105,647.

Security 

FARTCOIN is issued on the Solana blockchain. As an SPL token, its security relies on the infrastructure of the Solana network.

Drawbacks and risks 

FARTCOIN, like many meme-based cryptocurrencies, is subject to significant price volatility. The token has experienced dramatic price swings, with its value surging to an all-time high of over $2 in mid-January, only to face heightened market volatility shortly after. This volatility is driven by speculative trading and the meme coin's reliance on social media hype. The Average True Range (ATR) indicator, which measures market volatility, has shown high values for the token, indicating that its price can fluctuate widely in a short period.

Another drawback of FARTCOIN is its decentralized nature and the anonymity of its development team. Although these are key features of many cryptocurrencies, they also mean that there is no established entity to support the project's long-term viability. This can lead to challenges in governance, decision-making, and vulnerability to market manipulation and scams. The lack of transparency regarding the project's direction adds to this uncertainty. Investors must rely on the community and the decentralized framework, which can be less predictable compared to traditional investment vehicles.

Due Diligence  

Before listing FARTCOIN on the VirgoCX Platform, VirgoCX performed due diligence on FARTCOIN and determined that FARTCOIN is unlikely to be a security or derivative under Canadian securities legislation. VirgoCX’s analysis includes reviewing publicly available information on the following:  

• The creation, governance, and location of FARTCOIN and/or its primary development team; 
• The supply, demand, maturity and liquidity of FARTCOIN; and 
• Legal and regulatory risks associated with FARTCOIN.  

Statutory Rights under Securities Legislation 

VirgoCX is offering Crypto Contracts on crypto assets in reliance on a prospectus exemption contained in the exemptive relief decision Re VirgoCX Inc. dated May 30th 2024 (the Decision). Please be aware that the statutory rights in section 130.1 of the Securities Act (Ontario) and, if applicable, similar statutory rights under the securities legislation of each other province and territory in Canada do not apply in respect of the Crypto Fact Sheet to the extent a Crypto Contract is distributed under the prospectus relief in the Decision. 

Further Reading 

To learn more about the technology behind FARTCOIN, check out these in-depth resources here: 

• The official site of FARTCOIN
• Coinmarketcap’s overview of FARTCOIN
• Coingecko’s tokenomics overview of FARTCOIN
• Coinbase’s overview of FARTCOIN, along with the relevant news and blogs related to FARTCOIN.