Biden Unveils Memecoin LAPTOP with Burn Mechanism Tied to 2028 Election

Hunter Biden is launching a new token called LAPTOP on Base, Coinbase's Ethereum layer-2 network, on September 9. The token will have a fixed supply of one billion tokens.

The allocation of the tokens is as follows: founders, including Hunter Biden, will receive 30% of the total supply, locked for six months and then released gradually over roughly two years. A further 20% will be distributed through two airdrop rounds aimed at wallets holding Donald Trump's TRUMP token that are now underwater due to its collapse.

The airdrops target TRUMP holders who have lost money on the token, which opened with a valuation of around $15 billion in January 2025 but has since dropped by about 97%. The LAPTOP team is betting that these holders will be receptive to their own token and that it can pass Trump's token in fully diluted valuation.

The token also features a burn mechanism tied to specific events, including a Democrat winning the 2028 presidential election. If these conditions are met, up to 30% of the supply can be destroyed, shrinking the total supply and supporting the price of what remains. If not, the associated tokens will be donated to charity.