Mochi (MOCHI)

Onboarding and Community Engagement

Mochi is used to help onboard new users to the Base blockchain, supporting Coinbase and Base’s mission to bring the next billion users onchain. It acts as a community-driven project with weekly initiatives and developments aimed at making Base the largest onchain economy in crypto.

Branding and Popularity

Mochi is a cat-themed memecoin inspired by Coinbase CEO Brian Armstrong’s pet cat. Its cute branding and popular IP, designed by the artist behind Pudgy Penguins, have attracted a large following both within and outside the crypto community.

Ecosystem Utilities

Mochi offers utilities like the Mochi Token Store, which allows users to easily buy any token on Base using a Coinbase Smart Wallet without needing on-ramping. It also supports trading on various platforms and can be used for staking, lending, or yield farming to earn passive income.

Social and Cultural Impact

Mochi’s IP has gained billions of views globally and a strong social media presence, helping to break the crypto bubble and prove its appeal in the real world. It aims to be the most retail-friendly IP on Base, welcoming millions of retail investors.

Support and Recognition

Mochi has received grants from Coinbase for its onboarding efforts and continues to release developments recognized by Coinbase, Base team members, and the wider community.

Advantages

• Mochi is a first mover on the Base blockchain, launched before Base’s main-net in August 2023, giving it an early position in this ecosystem.
• It is supported by Coinbase, having received a grant to help onboard new users to Base, aligning with Coinbase’s mission to bring a billion users onchain.
• The token has a strong and cute brand identity, inspired by Coinbase CEO Brian Armstrong’s pet cat and designed by Antoine Mingo, known for Pudgy Penguins, which has gained global recognition and a large social media following.
• Mochi operates on the Base blockchain, offering fast transactions and low fees.
• The project emphasizes community engagement with weekly initiatives and developments, fostering a vibrant and active user base.
• Liquidity is locked and the smart contract ownership is renounced, promoting transparency and trust.
• Mochi is retail-friendly and positioned to attract millions of retail investors expected to join Base in the future.

Disadvantages

• The market for Mochi is relatively small compared to traditional markets, so large holders ("whales") can significantly influence its price.
• Price and market cap can fluctuate frequently due to the volatile nature of the crypto market.
• Social media sentiment is mixed to neutral, with a significant portion of tweets being neutral, indicating varied community enthusiasm.
• Mochi is not available on all major exchanges (e.g., not listed on Kraken), which may limit accessibility for some users.
• As a meme coin, its value can be influenced by trends and hype rather than fundamentals.

Founders and Design

Mochi was designed by Antoine Mingo, the artist behind Pudgy Penguins NFTs.

Recognition and Support

Mochi has received a grant from Coinbase for its efforts to onboard new users and is recognized by Coinbase and Base team members as well as the wider Base community.

Inspiration

Mochi is named after the pet cat of Coinbase CEO Brian Armstrong.

Investors in Mochi

Mochi received a grant during Onchain Summer 2023, which was paid out by Coinbase. To receive this grant, Mochi had to onboard and complete KYC with Coinbase. This indicates that Coinbase is a key investor and supporter of Mochi. Additionally, Mochi is positioned as a first mover on the Base blockchain, which is closely linked to Coinbase’s efforts to onboard millions of retail investors in 2025. The project benefits from Coinbase’s backing and grants, highlighting Coinbase as a primary investor and partner.

Halal Status of Mochi Crypto

• General Crypto Halal Considerations: Cryptocurrencies are considered halal if they have inherent value, serve a real-world purpose, and comply with Islamic finance principles such as avoiding riba (interest) and excessive uncertainty (gharar). Opinions among scholars vary, and each crypto project should be evaluated individually.

• Mochi Crypto Specifics: Mochi is a community-driven token used on the Base blockchain, supported by Coinbase, and designed to onboard new users. It has real utility within its ecosystem, including trading on decentralized exchanges like Uniswap.

• Conclusion: Yes, Mochi can be considered halal because it serves a real-world purpose, has community and utility value, and does not inherently involve prohibited elements like riba or gambling. However, individual discretion and consultation with a knowledgeable scholar are advised for personal investment decisions.