The B of M facilitates the offloading of meme tokens for rewards in $memeBits. The B of M ecosystem is built on five key components:

 dust Protocol • $memeBits • Burning • Staking • Yield Farming

The Dust Protocol provides traders with a secure method to individually or collectively pool their devalued meme tokens into the B of M Vault. Once the Goal Amount is met, the contract automatically executes a trade, and depositors are able to claim their $memeBit rewards.

Users earn $memeBits when tokens they deposit are traded by the B of M's dust Protocol. Holding $memeBits grants users special permissions within the B of M. WETH received from meme dust trades will be used to buy and burn $memeBits.

1% / 2% buy/sell taxes collected in $memeBits from swaps will be burned directly from the MEMEBIT contract. Initially, WETH collected from the dust Protocol will be used for buy-and-burns while Yield Farming and Staking Contracts are being completed.

In Phase Three the Bank of Meme will deploy the $memeBit Staking Contract. Depositors will be able to stake their $memeBits rewards to earn ETH revenue generated by the B of M.

The Bank of Meme will deposit the revenue received from meme dust trades into Etherfi's Liquid Yield Vault (USDC), earning over 20% APY. The yields generated will be used to reward $memeBit stakers.