In a playful and pointed commentary on the SEC’s approach to cryptocurrencies, a new ERC-20 token called HOWEY is being launched. Taking its name and inspiration from the SEC’s 2018 meme coin, “Howey Coins”, HOWEY aims to utilize the power of meme coins to expose perceived inconsistencies in the SEC’s stance on crypto and to support legitimate crypto projects that have been unfairly targeted by the SEC.
While “Howey Coins” was a tongue-in-cheek creation by the SEC to educate investors about ICO risks, HOWEY is a real, usable token. The token’s creators are dedicated to the mission of revealing what they view as the SEC’s bad faith towards crypto and standing up for crypto projects that have been unjustly persecuted.
HOWEY’s name references the Howey Test, a method used by the SEC to determine whether an asset is a security. Gary Gensler, the head of the SEC, has been quoted with conflicting stances on this issue. HOWEY’s creators challenge Gensler to clarify his position and take a consistent approach.
In a show of solidarity with unfairly targeted projects, 25% of all HOWEY tokens are earmarked for the Howey Fund. The fund will provide support to legitimate projects that have been the victims of what the creators see as unjust SEC actions. HOWEY holders will have a say in which projects receive support, with
1 HOWEY equating to 1 vote. The Howey Fund will also be used to manage CEX Liquidity as the project grows.
The tokenomics of HOWEY are transparent and straightforward. The total token supply is
18,007,320,330, a number humorously referencing the SEC’s contact number. Of this, 75% has been allocated for liquidity into DEX LP and time-locked for 1933 years, while 25% is set aside for the Howey Fund, managed by multisig and managed via the Howey Fund DAO via Snapshot.org/#?howeycoin.eth. 0% tax and 0% has been set aside for marketing.
The roadmap for HOWEY includes token minting, launching the Howey Fund, applying for listing on CEXes once the holder count reaches 5,000, and conducting an airdrop of $100,000 in HOWEY to first-time voters when the market cap hits $60,000,000 after DAO vote.
The creators of HOWEY invite the community to join their Telegram channel and participate in a daily meme contest, with the chance to win prizes in HOWEY and have their creations featured on the HOWEY website.
HOWEY is not affiliated with the U.S. Securities and Exchange Commission or the SEC’s website, howeycoins.com.
For more information, please visit howeycoin.com
View Locked Liquidity: https://app.unvest.io/projects/1/0xfd95befd5d88291fe012665673fe775085f47c8a/liquidity-locks