Meme Dollar
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Meme Dollar issues PINA, an Ethereum algorithmic stablecoin and DontDieMeme utility token whose disclosed design was inspired by Dynamic Set Dollar. Current evidence shows a sharp distinction between roughly $913K of token circulation and investable protocol liquidity: the DefiLlama protocol API reported zero core TVL and only about $988 in pool2 liquidity on 2026-08-16. At that scale an advised allocation cannot enter or exit without dominating the measured venue. The below-materiality dossier therefore decides before peg, coupon, governance, reserve and redemption underwriting.
- TVL sustained above $100M for 30 days
The research file
Mechanism applicability
The verified Ethereum token description identifies PINA as both the DontDieMeme ecosystem utility token and a dollar-pegged token using mechanisms inspired by Dynamic Set Dollar. DefiLlama independently classifies it as an algorithmic USD peg. The disclosed perimeter does not establish a fiat reserve or issuer redemption right, and this class application makes no inference that token supply is liquid collateral.
Current observation and lifecycle
On 2026-08-16 the DefiLlama protocol API reported zero core TVL and approximately $988 only in Ethereum pool2 liquidity, while the stablecoin API reported about $913K circulating on Ethereum. The project website is absent from the protocol record and current official materials are limited to the labeled contract and legacy social-link hub. That thin lifecycle and documentation footprint reinforces, but does not replace, the size decision.
Control and exit applicability
PINA holders depend on the token contract, its algorithmic peg and coupon or staking mechanics, the DontDieMeme application, and external market liquidity. Neither token circulation nor a nominal one-dollar target proves a redeemable dollar claim. With only about $988 of measured pool liquidity, a proposed $1M practice position has no observable market exit at the survey perimeter.
Why the class rule decides
Even the approximately $913K circulating amount is below one percent of the $100M materiality floor, and measured protocol liquidity is far smaller. The shared version-1 below-materiality dossier therefore decides. Reopen only after attributable investable liquidity—not token supply—remains above $100M for 30 consecutive days, then require current primary documentation of peg controls, authorities, reserves or collateral, coupon liabilities, incidents, audits, redemption mechanics and stressed market depth.
Sources
The claims above trace to these. Where a number could not be independently verified, the thesis says so.
- Etherscan — verified PINA contract · primary · accessed 2026-08-16
Supports: Ethereum, PINA contract, DontDieMeme, DSD-inspired peg - Etherscan — PINA token activity · primary · accessed 2026-08-16
Supports: token activity, holders, transfers, current lifecycle - DontDieMeme — official link hub · primary · accessed 2026-08-16
Supports: project identity, Meme Dollar PINA, legacy official links - DefiLlama — Meme Dollar stablecoin record · secondary · accessed 2026-08-16
Supports: circulating supply, Ethereum, algorithmic peg, price - DefiLlama — Meme Dollar protocol survey · secondary · accessed 2026-08-16
Supports: core TVL, pool2 liquidity, Ethereum, survey observation
Inherited controls
The verdict above grades the protocol layer. Every position also inherits the asset it holds and the chain it settles on. The least safe layer sets the position’s grade, and the position table names which one that is.
| Chain | Verdict | Grade | Control constraint |
|---|---|---|---|
| Ethereum | Approved | sovereign | No sequencer, no upgrade key, no operator who can be compelled — rule changes require social consensus. |