Quickly browse the major Memecoin issuance platforms, where can you still make money?
Author: Shaofaye123, Foresight News
The mainstream market has been continuously fluctuating recently, but the heat of Memecoin continues. Pump.fun's protocol revenue hit a new high on August 13, with accumulated revenue exceeding $100 million. Sun.pump, which was launched not long ago, saw multiple Memecoin market values quickly surpassing $1 million on the platform, with gas on the Tron network soaring and TRX, which has been quiet for a long time, hitting a near three-year high. It can be said that Sun.pump has almost single-handedly brought about a "renewed prosperity" to the entire Tron network.
In addition, Moonshot has launched a new issuance mechanism, and Meme activities on the BNB chain are continuous. Memecoin platforms on various chains are in full bloom. Which one can compete with Pump.fun, and where can users go to make money? This article will take you through the various Memecoin issuance platforms and analyze their competitive advantages.
Solana
Since last year, Solana has laid the foundation for this round of prosperity by flying with Bonk. This year, Bome was listed on Binance for 3 days, and the myth of a thousandfold increase frequently appeared, bringing in a large number of users and a large influx of funds, all of which created the soil for Pump.fun's prosperity. Its innovative mechanism for Memecoin issuance platforms continues, and there are still many platforms worth paying attention to besides Pump.fun.
Pump.fun: From Attention Economy to Asset Issuance Innovation
Pump.fun, as a Memecoin issuance platform, is undoubtedly the leader. Although there are now many imitators, most of them are replicas of it, and Pump.fun's market attention and popularity remain undiminished. Pump.fun was launched at the end of January this year, but at that time, there were few followers, and it was not until April that it gradually entered the public's view. The success of Pump.fun is not only due to its grasp of the attention economy but also to its clever asset issuance design. From a product design perspective, it has obvious competitive advantages:
Clear positioning—Focusing on the market + clear user base = solving real problems. "Users want a simpler, faster, and lower-cost way to obtain higher multiples of returns."
Innovative mechanism—Further optimization of asset issuance methods. Internal fundraising + reasonable price curve further reduces the cost of asset issuance and increases speed.
Pump.fun underwent an update in mid-August: token creators no longer need to pay a $2 creation fee, and they will receive a 0.5 Sol reward after successful launch. Asset issuance has truly been reduced to zero cost. This update is consistent with its initial goal of simplifying UGC asset issuance efficiency.
Business closed loop—Huge trading volume brings substantial profits. The source of profits is clear: 1% of platform trading fees before listing on Raydium, and a "listing fee" of 6 SOL during the listing process on Raydium.
Operational promotion—Frequent "miracle coins" attract traffic and promotion. A miracle coin appears every month, driving up transaction fees. (As shown in the figure: the increase in transaction fee income on Dune is accompanied by the appearance of miracle coins)
Interaction optimization—The participation method is extremely simple, and the interactive interface is very colorful. This further reduces the participation threshold and stimulates participation motivation.
MakeNow.Meme: Optimization of Liquidity Model
MakeNow.Meme, as a new issuance platform, although currently in a low ebb of popularity, caused a great sensation when it was first launched, and there was a sudden outbreak of celebrity coins. It issued over 2600 Memecoins in one day, with earnings exceeding 230+ SOL. Compared to Pump.fun, MakeNow.Meme's issuance mechanism not only further simplifies the asset issuance method but also provides a new direction for the liquidity model.
Further simplification of asset issuance method—On Twitter, publish tweets in a fixed format (tweets starting with the $ symbol and stock code, plus token description/videos/images, etc.) and @ the official account, and wait for the official account to reply with the token contract address in the comments.
Optimization of liquidity model—The fair launch method seems to require everyone to obtain the contract through chain scanning at the same time. However, in reality, KOLs, project parties, or others may reach agreements with the platform in private to preemptively buy low-priced chips.
Moonshot: Naturally Traffic from DEX Screener
Moonshot was developed by DEX Screener around June this year. Although it is backed by DEX Screener and even embedded in the platform, its data is still sparse compared to Pump.fun. In the author's view, Moonshot has not effectively leveraged the natural traffic of DEX Screener and converted it. DEX Screener, as a trading aggregation platform, has relatively few and opaque functions developed on Moonshot, and it does not display MetaData before launch, and the launch history cannot be easily traced. It also lacks social commenting features similar to Pump.fun. These factors make it difficult for Degen players to trace before launch, retail investors to communicate, and whales to make moves. Moonshot's interface design is restrained and simple, but it seems that the Memecoin issuance platform developed by regular developers may not be suitable for the "wild dog" market. However, Moonshot is still being continuously iterated, and in mid-August, it announced a partnership with Meteora to launch a new mechanism for Meme token issuance to incentivize developers.
Base
Base's chain never lacks active users, and the linkage between Farcaster and Memecoin has quickly brought about a lively ecosystem. There are many Memecoin issuance platforms on it, but most of them lack momentum and insufficient popularity.
Ape.Store: Extremely Similar Replication
Ape.store and Pump.fun are almost identical in functionality and interface. After the Dev creates a token (free except for gas fees) and reaches a market value of 69K, it will automatically list on UNISWAP at the same price and then immediately destroy the LP. After Pump.fun announced the update, it also immediately announced on Twitter, "From now until August 31, 2024, it will give 0.1 ETH to any developer who launches a project on it and lists on UNISWAP." Unlike Pump.fun, the platform has a clear ranking system based on transaction volume, number of invites, etc., with hidden coin issuance expectations.
Rug.fun: Horse Racing Game
Rug.fun originated from the Farcaster ecosystem and is relatively interesting in terms of gameplay, similar to a horse racing game. Players need to guess the 1st and 10th places to receive a high odds return. Each game lasts for 12 hours, and players can create or buy tokens. Initially, players could freely change the betting tokens without additional fees. As time accumulates, the cost of changing tokens increases. Eventually, other projects will add liquidity to the 1st place pool, leading to price growth. After the official Twitter account had not been updated for 2 months, it announced on August 15 that it was being updated.
Trugly.meme: From MemeX to Meme 404
Trugly.meme, as a Memecoin issuance platform, does not have much difference in its asset issuance mechanism compared to Pump.fun, but its asset gameplay is more diverse. The launch of MemeX allows anyone to create memecoins for Twitter accounts, and only the account owner can claim MemeX memecoins. After claiming, 80% of the trading fees will be transferred to the account owner. Secondly, it adopts the MEME404 token standard, allowing memecoin holders to display balances through NFTs and unlock different levels. MEME404 has a built-in mechanism to automatically mint and burn NFTs based on changes in memecoin balances, ensuring level updates.
Bibobibo: Danmaku-style Social Interaction
Bibobibo sounds a bit similar to Bilibili, and its main feature is also quite similar. The product is a danmaku-style trading platform centered around Memes, allowing users to communicate while participating in Memecoin, which is an extension of Pump.fun's commenting feature. However, compared to MakeNow.Meme's attention economy, Bibobibo's attention occurs in the latter stage. The project is still in the early stages and has not been officially launched.
BNB Chain
Four.meme: Originating from Four
Four.meme, as an issuance platform on the BNB chain, shows its association with BNB from the project name to the brand logo, using CZ's classic "Four" gesture. In addition, the influence of 4chan as a platform for Memecoin in Web 2 may have also affected the branding of Four.meme. Both from the team founder's statements and various activities, Four.meme has received considerable support from the BNB Chain. It has collaborated with the FOUR token to launch an airdrop campaign, where users can earn points by completing related tasks on the platform, which can be exchanged for BNB Chain ecosystem Meme coins FOUR and WHY. This activity has received support and promotion from the BNB Chain, and as a result, FOUR has seen a 65% increase in 24-hour trading volume. In mid-August, Four.Meme began hosting a Meme creation competition, with a total prize pool including 1 million Four.Meme points and $20,000 worth of Meme tokens, and invited In2Ventures founder Bili, NBA star Tristan Thompson, and the WHY and FOUR teams as judging guests.
Flap: Advanced PVP
Flap is a decentralized social application protocol on the EVM, born out of the ETHGlobal hackathon. The team members have strong backgrounds from well-known institutions such as KuCoin, Microsoft, MIT, and Morgan Stanley. The biggest highlight of Flap is the advancement and abstraction of the PvP mechanism.
In Flap's duel competition, when the market value of a Memecoin reaches $24,000, it automatically enters the duel candidate pool. These tokens will engage in one-on-one battles, and participants can only buy tokens during the duel period and cannot sell (token prices will continue to rise). Each match lasts for 30 minutes, and the token with the highest cumulative purchase volume during this period will win. The liquidity of the losing tokens will be used to purchase the winning tokens, thereby increasing their market value and community size. If the market value of the winning token reaches around $1 million, it will be listed on a decentralized exchange. Currently, the OKX wallet has integrated Flap to enhance the interactive experience. In addition, Flap has announced that it will hold a trading competition, where participants can receive airdrop points for trading, which can be used for redemption.
Tron
Sun.pump: Strong Rise, Out of the Circle in a Week
Sun.pump is the first meme issuance and trading platform based on Tron. Its Beta version was officially launched on August 13 and quickly established strategic partnerships with Dex Screener, Huobi HTX, and Poloniex, and jointly launched a $10 million Meme ecosystem incentive plan with Trondao, leading to a surge of hot money and rapid popularity.
Within a week of the Beta launch of Sun.pump, multiple Meme project market values exceeded $1 million. Among them, the market value of Sundog approached nearly $300 million, with a 24-hour trading volume exceeding $5 million. The official team is continuously promoting, and after Sun Yuchen changed his Twitter account to a "Black Myth" Sun Wukong avatar, the market value of his Memecoin SUNWUKONG briefly increased 8 times to $5 million. With continuous promotion, it also drove the TRX price to further rise.
Aptos
Uptos: Platform Coin = Mememcoin
Uptos is a Memecoin Launchpad on the APT chain, which integrates the distribution and burning functions required by Dev in addition to basic token issuance functions. In the future, it will also introduce functions for claiming tokens and linear release. The platform was launched in April, and after the launch, the official token UPTOS reached a peak market value of 13 million, but subsequent platform assets failed to continue to attract funds, and the UPTOS price has now returned to a market value of 1.2 million.
Avalanche
BellumExchange: Defi Version of Memecoin Issuance Platform
BellumExchange is a Memecoin Launchpad on the AVAX chain, using a liquidity order book similar to Trader Joe, where users can create different pricing curves on BellumExchange to form different issuance strategies. Compared to other platforms, the customizable pricing curve, customizable total supply, and the feature of not charging token creation and LP migration fees are its main selling points. In addition, it uses a mechanism similar to Trader Joe to provide Memecoin stakers with a 0.25% JLP yield per Epoch.
Fractal Bitcoin
Satspump.fun
Satspump.fun is a Memecoin issuance platform on the Fractal Bitcoin extended network. The platform has already reached a cooperation agreement with the Bitcoin ecosystem chain game infrastructure UniWorlds. The official announcement on August 9 stated that there will be a BRC-20 airdrop, where users holding whitelist BRC-20 tokens (ORDI, SATS, PIZZA, SHNT, WZRD, HONK, RATS) worth $300 or 3 bitmap users in the wallet are eligible for this airdrop. The Fractal Bitcoin mainnet has not yet been launched and will officially start on September 1.
Summary: Platforms are becoming increasingly diverse, and liquidity is being divided again
Currently, in the market, each chain has its own Pump.fun. With the rise of different chain Memecoin issuance platforms, the flow of the Memecoin market is being divided, and the market lacks new liquidity, making it difficult to increase token market value. The cake is being divided once again. The diverse competition brings not a decrease in PvP, but rather more intense competition. In the face of the battle between Web 2 giants, the price war brings substantial user subsidies and benefits. However, in the Memecoin market, with the division among multiple platforms, it has become more difficult for users to make money due to the lack of new incremental liquidity. Memecoin, as a zero-sum game market with a high element of luck, even the Kelly formula calculation of investment returns warns us that it's best not to participate in this game without a good strategy, as it's a game where you lose nine times out of ten.
In terms of platform competition, Sun.pump, as a rising star, has recently attracted a lot of attention and driven the rise of TRX prices. For a while, there has been a surge of hot money in the market, and liquidity is abundant, leading to a significant increase in new users on Tron. However, it is difficult to determine whether it can be sustained in the future. Secondly, Solana, as the blockchain with the best Memecoin liquidity, has ingrained user habits that are difficult to change in the short term, but it has lost attention in the short term, and it remains to be seen whether it can regain attention in the future. While Base Chain and BNB Chain have official activities and support, the wealth effect is not significant.
"Tokens are the new content, the purchase button is the new like button, market value is the new engagement indicator, and trading fees are the new advertising revenue." The seemingly flourishing Memecoin issuance platforms are currently full of crises and urgently need new narratives to expand market increments.
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