Loser Coin – The Ironic Success of Losers
When the cryptocurrency market crashed, many people lost a lot of money and got frustrated when seeing money running away from their hands. By chance, two anonymous Chinese men came up with an idea of developing a token as a comfort to losers on such terrible days. The token bears a very special name – Loser Coin, and a ridiculous slogan “Let Loser Be Great Again!”. It was officially launched in early April, 2021.
Although the token was first created for losers, it has achieved many impressive accomplishments and draws much attention worldwide. Loser Coin was recently featured on the front page of some famous crypto e-newspapers such as Coindesk, Decrypt, BSC News, and Yahoo Finance. $LOWB was also ranked in the top 400 by market cap in CoinMarketCap.
1. The Story Behind Loser Coin
Self-deprecation is a deeply-rooted culture of China where a large group of investors always see themselves as losers compared to big financial organizations. They even consider themselves as leeks (a popular vegetable used in Chinese dishes) which are available to be collected and eaten by gluttons. In the crypto world, this idea implies that most investors and traders are losers, or “leeks” vulnerable to the pump and dump game of whales and manipulators.
In this scenario, two men stand up with the intent of gathering all losers around the world to build up a community for their “joke” token. Their philosophy, which says that “Life has much more to offer than money. Even when you lose, you gain experience”, grasps sympathy from many losers.
One of the founders of Loser Coin is a poor father responsible for raising two kids in rural China. The other is a coder who works his ass off 60 hours per week but still lives a miserable life. Both first knew about Bitcoin in 2017 and ended up with a massive loss from trading cryptos. They built this project as a joke that they were ready to lose again. Loser Coin was released on April 21th, 2021, with no ICO; and the two founders have used their whole life savings to add to the liquidity. They insist that there is no way they would abandon the project or rugpull.
2. Loser Coin token
$LOWB token distribution.
There are 100B $LOWB tokens in total supply (*60B has entered the market).
- 40B: Mining.
- 30B: Community incentives (20B Airdrop, 10B Contribution rewards for Community members).
- 10B: PancakeSwap liquidity.
- 10B: Marketing operation.
- 10B: Protocol development.
Holders can stake and farm $LOWB to earn extra tokens with a very high yield.
Currently, there are two pairs available for farming with very high APY on app.LoserSwap.com, which is built on Binance Smart Chain (BSC).
- LOWB_USDT: APR – 301.49%
- GAME_LOWB: APR – 232.64%
Staking $LOWB on app.LoserSwap.com
Holders can stake $LOWB to earn more $LOWB or other tokens. However, the APR of staking is usually lower than that of farming.
First, you can choose the pool that appeals to you, then click the “Approve $LOWB” button to start staking.
To increase the use cases of $LOWB, Loser Coin has partnered with DSBswap – a platform for UEFA Champions League 2021 betting. $LOWB can be used for betting, but not all matches accept $LOWB as a betting token. The betting ends after a particular football match lasts for 40 minutes.
If you are in a winning team, you all share the bets from opponents plus the bonus tokens; otherwise, you will lose the tokens you have put in.
In DSBswap, you can also stake $LOWB to earn $DSB with an APR of 127.25%. With $DSB and $LOWB available in your wallet, you can bet for any football match that you like.
Besides, the Loser Coin team aims to build a decentralized platform for exchanging digital assets similar to PancakeSwap on BSC.
3. Team and Community
The team claims that the founders are two poor guys living in China, and they still are anonymous, of course. However, the investors can still feel the sincerity and humor from the development team on a Twitter post (See the picture below).
After their initial success, the project recruits more people from the Loser Coin community to join the team. With more hands contributing to the development of Loser Coin, their mission of Making Loser Great Again will reach the global audience soon.
As a Meme Coin, the development of $LOWB is accompanied by the growth of the community. The presence of Loser Coin conveys a message that having failures in the crypto market, or in life overall, is not embarrassing. In the world where many are obsessed with the rat race, the mentality of Loser Coin is relatable to quite a few people.
In the “How to Know Whether You Are a Loser” post on Loser Coin’s blog, there are 6 criteria as follows:
- You like cheap and free stuff, like $LOWB.
- You always feel like you are not fitting in, looking at others making money while you lose money.
- You often give up on your goals and principles; self-discipline is not as gratifying as playing video games or watching TikTok.
- You don’t know how to communicate with others.
- Life is so confusing; you don’t know how you have lived until now.
- You have gone through about 996 weeks of life. It always feels like you are at the ICU.
Those who identify as Losers according to the criteria above gather in the Loser Coin community, and share the experience of losing money. They comfort each other and understand deep down in their souls that this is the place where they all are accepted. They may have had failures and losses, yet they have each other’s back to become stronger. A strong community is a key to the project’s success.
Thanks to the two founders’ honesty and quirkiness, Loser Coin has achieved phenomenal success as they draw a tremendous amount of attention from the media. In a live AMA recently, two founders didn’t hesitate to share with the audience their losses when trading cryptos. They also talked openly about their lack of technical knowledge and skills, and stated that they are “fully prepared to lose everything”. This is a breath of fresh air in the market since other crypto projects usually over-promise and under-deliver.
Within two months, Loser Coin has attained some amazing social signals:
- Over 100k members on their Telegram groups (including English group and Chinese group)
- Over 11k followers on Twitter.
Besides, the total number of holders has reached over 117k as of early June.
Interestingly, Wu Blockchain, a channel that specializes in posting crypto news from China, tweets that $LOWB may surpass other Chinese crypto communities when their Chinese community reaches 60k members.
The project has garnered so much attention that some of the biggest blockChain websites, such as Coindesk, BSC News, and Decrypt have written about Loser Coin.
4. Future Plans
Unlike other projects, Loser Coin presents an unclear roadmap for their development. Even though there is no guarantee that they will conduct all plans on time, the dev team claims that they are trying their best to release new products as follows:
- $LOWB NFT market
In their latest AMA sessions on June 9, they updated that “$LOWB has launched mining. The next step is Loser Forum and Loser NFT, which are currently under testing. CoinW is committed to selecting high-quality encrypted assets for investors and creating a new model of technology finance for users.”.
5. Key social channels
Following Loser Coin on:
- Website: https://losercoin.org/
- Twitter: https://twitter.com/loser_coin
- Telegram: https://t.me/loser_coin_english
- Reddit: https://www.reddit.com/r/Losercoin_Official/
- Youtube: https://www.youtube.com/channel/UCh1NWiO2-vu8vBWTePGjJ8w
- Titok: https://www.tiktok.com/@loser_coin
- Coinmarketcap: https://coinmarketcap.com/currencies/loser-coin/
- Coingecko: https://www.coingecko.com/vi/ty_gia/loser-coin
6. Final thought
Loser Coin has a strong and active community that brings joy, comfort, and strength to everyone during their difficult times. The power of the Loser Coin community will allow the project to realize various ideas and cooperate with many other crypto projects, growing even more in the future.
Disclaimer: Please keep in mind that this is not financial advice. We are purely reporting on Loser Coin. Invest the amount you can afford to lose. Are you ready to join fellow losers?!