What is Brett (Based)?
Brett, or Based Brett, is a memecoin built on the Base Blockchain that saw a significant rise in popularity in 2024. Learn more about BRETT in our guide.
What is $BRETT?
$BRETT, also known as Based Brett, is a rising memecoin built on the Base blockchain, an ecosystem known for its efficiency and low fees. Inspired by the character Brett from the Boy's Club comics and often referred to as “PEPE’s best friend,” Brett has quickly gained traction with investors and is within the top 100 coins based on market cap.
Since the 4th Bitcoin halving, several Solana-based meme coins have experienced parabolic rises in value. This surge in popularity has even led to some confusion, with many mistakenly associating Brett, a rising star among meme coins, with Solana, despite it not being built on that blockchain.
Contrary to some assumptions, Brett has no connection to Matt Furie, the creator of Pepe and the Boy's Club comic series. While the Brett token pays tribute to the meme character, it’s purely for entertainment and is not officially linked to Furie's work.
Read next: What is Pepe Coin?
How does Brett work?
Like most memecoins, Brett operates on simple tokenomics but differentiates itself through its backing on the Base blockchain, which offers enhanced speed and lower transaction costs compared to more established chains like Ethereum. The token operates on a deflationary model, meaning that over time, tokens are burned or removed from circulation to potentially help stabilize the price.
One of Brett's key features is its community-centric distribution model. It aims to foster loyalty and engagement within its user base by integrating various community-based initiatives and promotional campaigns, such as token giveaways and viral marketing campaigns on social media.
The goal of Brett is not just to survive as a volatile meme token but to thrive by building a community that supports its long-term potential. As with many meme coins, much of its future success hinges on the community's ability to maintain momentum and engagement.
Brett tokenomics and distribution
Brett’s tokenomics follow a deflationary model with a burn mechanism, designed to drive long-term value. There is a maximum supply of 10 billion BRETT tokens, distributed as so:
85% to liquidity pools
10% to the treasury
5% to centralized exchanges
Read next: Top 10 Memecoins
What’s the future of Brett?
The future of Brett is both exciting and uncertain, as is often the case with memecoins. Despite its early success and rapid rise in value, the token remains highly volatile. However, Brett’s creators are focused on long-term growth by increasing adoption and building use cases within the Base ecosystem.
Some key factors that could influence the memecoin’s future include:
Continued community engagement: Like other memecoins Brett’s survival depends on its community.
Partnerships and integrations: Brett is exploring collaborations with other blockchain projects to expand its ecosystem. Potential future integrations into DeFi protocols could provide additional use cases for the token.
Burning mechanism: By continuing its deflationary practices through token burns, Brett aims to reduce supply over time, which could help support its price in the long term.
As with any memecoin, the future is uncertain, and the token's value will likely fluctuate based on broader market trends and the team's ability to keep its community engaged.
Where to buy Brett
Brett can be purchased on several decentralized and centralized exchanges. Some of the most popular platforms where you can buy Brett include:
How to buy Brett
Buying Brett is a simple process, especially if you're familiar with crypto. Follow these steps to get started:
Create an account: Sign up on a crypto exchange that lists Brett, such as MEXC or KuCoin, or connect a wallet like MetaMask to a decentralized exchange like Uniswap.
Fund your account/wallet: Deposit fiat funds or crypto into your wallet or exchange account.
Place an order: Navigate to the Brett trading pair (e.g. BRETT/USDT or BRETT/WETH) on your chosen platform and place an order to buy.
Withdraw to wallet: After purchasing, it’s a good idea to withdraw your Brett tokens to a personal wallet for added security.
Read next: Best Crypto Wallets
Brett taxes
Like all crypto, Brett may be subject to taxes depending on the regulations in your country. If you sell Brett for a profit or trade it for another cryptocurrency, you may need to pay capital gains tax on any earnings. Additionally, if you receive Brett through an airdrop or other promotional campaigns, this could be classified as taxable income in certain jurisdictions.
It’s important to track your transactions carefully and report them correctly. You can use crypto tax software, like Koinly, to help calculate and report your Brett taxes easily. Sign up for free and try it today.
