Moo Deng (MOODENG) Describes Itself As

Moo Deng (MOODENG) is a memecoin built on the Solana blockchain, inspired by the viral popularity of a baby pygmy hippopotamus living at the Khao Kheow Open Zoo in Thailand. Launched on September 11, 2024, on the Solana blockchain, MOODENG quickly garnered attention, leveraging the charm and internet fame of its namesake. The token has become a prominent example of how online virality can shape speculative trading in the cryptocurrency market.

Who Is Moo Deng?

Moo Deng is a Thai baby pygmy hippopotamus born in July 2024 at the Khao Kheow Open Zoo in Si Racha, Chonburi province, Thailand. Pygmy hippopotamuses are an endangered species native to West Africa, with only around 2,000 remaining in the wild.

Moo Deng’s irresistibly adorable nature, dramatic expressions, and chaotic personality have captivated a global audience, transforming her into an internet sensation. Her relatability has extended beyond social media, drawing the attention of major corporations like DreamWorks Animation, Universal Pictures, and Windows, who have featured her in some of their content.

Even top-tier sports organizations like Bayern Munich have joined the trend, posting Moo Deng reaction memes to celebrate their impressive performances, including an 11-goal thriller in the UEFA Champions League.

Moo Deng’s rising popularity has also had a profound impact on the Khao Kheow Open Zoo. Reports indicate that the zoo’s visitation rates have doubled since she went viral, and its social media presence has soared, with their X account now boasting over 100,000 followers at the time of writing.

Project Function

MOODENG operates solely as a memecoin, with its utility centered on community engagement and charitable initiatives. While its functionality is limited, the project has implemented MOO-PFPs, which are community-designed profile pictures inspired by Moo Deng.

The project has also teased future activations, which are “coming soon.”

Token Utility

MOODENG is a Solana-based token designed to capitalize on viral internet culture.

• Blockchain: Solana
• Launch Platform: Pump.fun
• Total Supply: 989.97 million MOODENG

About the Founders

Details about the Moo Deng project’s team remain sparse, with the project primarily focused on the popularity of its mascot. The viral fame of the baby pygmy hippo, Moo Deng, and her association with the Khao Kheow Open Zoo help to add legitimacy to the project’s charitable commitments.

Risks of MOODENG

Like an investment in other crypto assets, there are some general risks to investing in MOODENG. These include:  (i) volatility risk and liquidity risk, (ii) short history risk, (iii) demand risk, (iv) forking risk, (v) code defects, (vi) regulatory risk, (vii) electronic trading risk, and (viii) cyber security risk. For additional information of these and other general risks associated with crypto assets and Uphold’s platform, please refer to the Risks Specific to Holding Digital Assets statement.

In addition to these general risks, an investment in MOODENG is subject to the following specific risks:

• As a ‘memecoin’, MOODENG is a community project, led by a pseudonymous team. 
• Any potential success associated with MOODENG is reliant on the growth of its decentralized community, and their continued trading and enthusiasm for the asset. These factors are difficult to predict, and could result in very high volatility.

We emphasize that this Crypto Asset Statement is not an exhaustive description or summary of all risks associated with MOODENG. Investors should conduct their own research and perform their own assessment before trading any crypto asset to determine the appropriate level of risk for their personal circumstances.

The MOODENG community and MOODENG founding team are not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of MOODENG have no recourse to the MOODENG community, MOODENG founding team, or Uphold if MOODENG declines in value for any reason.

Changes to applicable law may adversely affect the use, transfer, exchange, or value of any of your crypto assets, and such changes may be sudden and without notice.

Uphold’s Evaluation Process

Prior to listing MOODENG on the Uphold Platform, Uphold performed due diligence on MOODENG and determined that MOODENG is unlikely to be a security or derivative under relevant securities legislation. Uphold’s analysis including reviewing publicly available information on the following: 

• The creation, governance, usage, and design of MOODENG, including ensuring the source code is open-source, audited and peer reviewed, security, and roadmap for growth in the developer community. 
• The supply, demand, maturity, utility, and liquidity of MOODENG.
• Any marketing materials put forward by the MOODENG social team including on, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.
• Material technical risks associated with MOODENG, including any code defects, security breaches and other threats concerning MOODENG and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them.
• Legal and regulatory risks associated with MOODENG, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of MOODENG.

General

Uphold has prepared this Crypto Asset Statement based on publicly available information. Although Uphold has taken steps to obtain information from apparently reliable sources, information contained in this Crypto Asset Statement may be inaccurate, incomplete or out-of-date. This overview is a starting point for you to perform your own research prior to investing in a crypto asset.

Uphold users should read the Risks Specific To Holding Digital Assets statement for additional discussion of general risks associated with crypto assets made available through the Uphold platform.  

Canadian residents, please note that Uphold has filed an application for registration in certain Canadian jurisdictions but has not yet obtained registration. Until such time as Uphold obtains registration, Uphold has agreed to abide by the terms of an undertaking available at the following link. Please also review the Uphold Canada – Crypto Risk Statement for additional discussion of general risks associated with the crypto assets made available through Uphold Platform. Please be aware that statutory rights of action for damages or rescission in section 130.1 of the Securities Act (Ontario) and, if applicable, similar statutory rights under securities legislation in the other provinces and territories of Canada do not apply in respect of this Crypto Asset Statement or other disclosures on the Uphold website and Risks Specific To Holding Digital Assets statement. 

Last updated on December 3, 2024.