Crypto can be daunting to new users, so here's a step by step tutorial to set up a LOBSTR wallet for MayoCoin and Stellar's base currency, the Stellar Lumen (XLM). First, a little background.
Yes, MayoCoin is a proud member of the Stellar meme coin universe. We nod our heads to our daddy and mummy, Ananos and Manangos and big brother Stellar Cannacoin, who prefers to be called a community token. The meme coin we take greatest inspiration from is Banano, a fork of the cryptocurrency Nano. Don't let the name meme coin put you off. There is space for utility and we have an active development team. While you may just have fun and learn a little, you might also make a little money along the way.
Speculative projects such as MayoCoin do carry a large amount of risk. The vast majority of our users gently get acquainted with the project using almost no initial investment. There is no pressure to make rash decisions. MayoCoin is an opportunity to get on the ground floor of a crypto project that is fun and educational with incredible potential utility.
Stellar is that shy, bespectacled kid at the back of the classroom, who quietly gets things done, quickly (transactions take ~4 seconds) and cheaply (~0.000001 USD per transaction) and quietly (~0.00022 kWh per transaction). It's the perfect platform for cheap, easy (no coding required) tokens. The Stellar Decentralised Exchange (SDEX) is available for any asset, as well as liquidity pools (LP) and automated market makers (AMM) all on chain without relying on third party DApps or smart contracts. The only snag is that in order to hold Stellar assets like MayoCoin, you need to hold ~0.20 USD of Stellar Lumens (XLM), Stellar's base currency, as refundable deposit. At the moment XLM is hovering around the 30th position on CoinMarketCap.
True in January 2023 at least...
For now (January 2023), MayoCoin is very cheap with 300,000 MayoCoin ~ 1 USD. While there are other ways to get MayoCoin there may never be another opportunity to buy them at this price. Sources of free MayoCoin include airdrops, faucets, staking and HODLing lotteries, trivia and using your computer to map the Milky Way. Tipping on Reddit and Discord is what holds the community together. Participate and have fun and you'll have a few MayoCoin in no time. Don't knock it until you've tried it!
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