Ecological competition and evolution of Memecoin issuance platform

There is no doubt that the Memecoin track has become a bellwether in the mật mã market in 2024. In particular, the emergence of Memecoin issuance platforms represented by Pump.fun has opened up huge development space for it, and has since entered a new era of everyone issuing coins.

This article will start from Pump.fun, summarize the characteristics of this type of platform, and make an in-depth horizontal comparison of similar products, such as: SunPump, MakeNow.Meme, Moonshot, Four.Meme, etc., to show users the survival status and competitive landscape of the current Memecoin issuance platform.

Memecoin issuance platform leader – Pump.fun

As the undisputed leader of the Solana network’s Memecoin Launchpad, Pump.fun has single-handedly ignited the entire Memecoin sector, and its design concept and trading model have become the template for the current Memecoin issuance platform.

(Source: Pump.fun)

Pump.fun was launched in January this year and is a coin issuance tool and community platform focused on Memecoin. Pump.fun was initially launched on Solana and later integrated into the Base and Blast networks.

Pump.fun did not attract the attention of the market at first. It was not until mid-March that it gradually entered the public eye and the number of new coins deployed per day began to exceed 10,000. As of now, the number of Memecoins issued on Pump.fun has exceeded 2.97 million, and Pump.funs cumulative total revenue is about 170 million US dollars. Since October 13, its daily revenue has been above 1 million US dollars.

(Source: Dune@adam_tehc)

Behind the explosion of Pump.fun

Pump.funs impressive performance is not only due to its perfect response to the current markets craze for Memecoin, but also due to its one-click coin issuance product concept. Anyone, even without any technical experience, can complete project creation and token issuance at almost no cost.

Features of the Pump.fun platform include:

1) Extremely low coin issuance cost

On Pump.fun, users only need to pay about 0.02 SOL (about $3) to deploy Meme tokens initially, which greatly reduces the cost of issuing tokens for users. In a recent update, creators no longer need to pay deployment costs, and will be rewarded with 0.5 SOL when their tokens exceed the upper limit of the Bonding Curve of $69,000. As for the token creation fee, it is paid by the first user who purchases the currency.

In addition, Pump.fun only charges 1% for all transactions on its platform. The relatively low transaction fee is more user-friendly.

2) Automated Processes

Users only need to enter the token name, symbol, project description, picture or video to complete the creation of Meme tokens. The whole process is quick and simple. After the token is launched, the system will automatically provide liquidity. When the token market value on the joint curve reaches $69,000, the token will automatically be listed on Solanas decentralized exchange Raydium, and $12,000 of liquidity will be burned.

(Source: Pump.fun)

3) Transactions based on joint curves

All tokens issued on Pump.fun are based on the Bonding Curve, which bất chấpnes the relationship between token price and supply through a mathematical function. Generally speaking, as the demand for tokens increases, the price of tokens will also rise. Using the Bonding Curve can better reflect the real market demand for tokens, reduce the risk of price manipulation, and create a healthier and more transparent trading environment for trading users.

4) Integration of financial and social attributes

Pump.fun has built-in social sections on its platform, where users can comment and live chat, making it easier to promote the spread and popularity of tokens on social media platforms.

The launch of Pump.fun provides crypto users with a one-stop token issuance channel with a simple and intuitive trading page, achieving fair distribution to the greatest extent, effectively solving the price advantage problem of teams and investment institutions in the early stage of token issuance, the insider manipulation and rat warehouse problems that may exist in the circulation and trading of tokens, and the super authority problem eliminated by the creators automatic waiver of the right to mint coins, etc., truly meeting the core needs of crypto users for decentralization.

For this reason, Memecoin enthusiasts, on-chain Degen users and other user groups flock to Pump.fun. Although more than 99% of Memecoins have a very short life cycle and will return to zero in less than 24 hours, once they buy a lottery ticket, the huge return rate of 100 times or 1,000 times is enough to make them never tired of it.

The huge volatility of Memecoin is constantly stimulating the dopamine of crypto investors. On Pump.fun, one after another, the best-selling products are born in the extreme Fomo of the market, such as $SC, which created a 100-fold myth in 5 days after opening, $BERT, which increased 10 times in 15 minutes after opening, and $BOME, which achieved a 50-fold increase in a single day.

Various on-chain data show that there are always lucky people who are blessed by God and make huge profits of hundreds of thousands or millions of dollars with just a few hundred dollars. However, the current Memecoin market is a huge garbage dump. The extremely low issuance threshold will inevitably lead to the widespread Rug Pull scam. If you are not careful, you will fall into the trap and become the source of liquidity exit for others. Therefore, investors must participate cautiously and formulate trading strategies rationally based on their own risk tolerance.

In order to improve the users trading experience, Pump.fun recently launched a new feature Pump.fun advanced, which integrates functions such as charts, token holding distribution, and real-time update threads. In the latest Space live broadcast, Pump.fun co-founder also stated that it plans to launch tokens at some point in the future, suggesting that in the future, airdrops may only be made to users who use Pump.fun advanced.

Memecoin Issuing Platforms

The popularity of Pump.fun has revitalized the entire crypto market. This craze quickly spread to a number of public chains such as Tron, BNBChain, and Base. Major networks and project parties have put in a lot of effort and launched Memecoin issuance platforms one after another, such as: SunPump, MakeNow.Meme, Moonshot, Four.Meme, etc., providing more choices for crypto users.

● SunPump

(Source: SunPump)

SunPump is an ecological product of the DeFi platform SUN.io. It is also the first Memecoin Launchpad issued based on Tron. The Beta version was officially launched on August 13 this year.

With the active promotion of Justin Sun, the founder of TRON, SunPump has been enthusiastically sought after by the market since its launch. The platforms first Memecoin MoreYaoWan ($PILLS) achieved a price increase of nearly 90 times on the first day of issuance. Other popular Memecoins, such as Tron Bull ($BULL), Sundog ($SUNDOG), and Crypto Zillion Club ($CZC), have increased by more than 100 times, or even 1,000 times.

As of now, there are 23 projects on SunPump with a market value of more than 1 million US dollars. The total number of new coins deployed on the SunPump platform exceeds 91,000, with a total cumulative revenue of approximately 35,142,551 $TRX, equivalent to a market price of approximately 5.71 million US dollars.

(Source: Dune@hashed_official)

In order to attract more users, SunPump simultaneously launched a Gas Fee reduction campaign and launched a Meme ecological incentive plan of up to $10 million. It should be noted that from the data, since SunPump set a record of 7,500+ newly created tokens on August 21, its development momentum has gradually weakened. Since entering October, only dozens of new projects have been issued every day.

SunPumps token issuance process is almost identical to Pump.fun, and token creators need to pay a fee of about 20 TRX (about $3). However, SunPump has introduced a leaderboard gameplay and an invitation mechanism, making the gameplay more diverse and user-friendly.

● MakeNow.Meme

(Source: MakeNow.Meme)

MakeNow.Meme was launched on July 31 and is a Memecoin issuance platform based on the Solana network. MakeNow.Meme pioneered the function of issuing coins by posting a message. Users only need to post a tweet in the format required by the official to be equivalent to issuing Memecoin, but they need to wait for the official reply to be considered successful. The reply information includes the token contract.

This novel gameplay made MakeNow.Meme issue more than 2,500 Meme tokens within the first day after its launch, but the popularity lasted only three days, after which the platform gradually fell out of favor. So far, MakeNow.Meme has issued about 5,400 Memecoins, with a total income of about 486 $SOL, equivalent to a market price of about 87,000 US dollars.

(Source: Dune@hashed_official)

However, crypto KOL @thecryptoskanda believes that although MakeNow.Meme is still a copycat of Pump.fun on the front end, it has made innovations in the market-making model. By using several deployers to issue the same token, it increases the difficulty of sniping and proposes a solution to the market-making scenario of KOL issuing tokens.

● Moonshot

Moonshot is a Memecoin launch platform based on Solana and Base, which was launched on June 25 this year. Moonshot is built into the well-known DEX analysis platform Dexscreener and has great advantages in traffic acquisition.

(Source: Moonshot)

Like other Pump.fun imitations, Moonshot also received a brief attention from the market in the early days of its launch. The number of tokens deployed in the first few days remained at 4,000+, but then it showed a downward trend. It was not until mid-September that the emergence of gold dogs such as MOODENG and SPX 6900 made Moonshot famous and ushered in a new trading climax.

So far, a total of 106,454 new coins have been issued on Moonshot, of which 333 Meme projects have successfully completed the joint curve and have been listed on DEX trading. The total revenue of the Moonshot platform is 18,232 SOL, which is equivalent to a market value of approximately US$3.28 million.

(Source: Dune@tiago 4 maral)

Moonshots token issuance process is not significantly different from Pump.fun. When the token is successfully migrated to Raydium, the creator will receive a reward of 2 SOL. The official attaches great importance to security, and the platform smart contract has been fully audited. In addition, Moonshot is more user-friendly. Users can customize the screen in the main board, such as: market value, progress, transaction time, transaction volume, etc.

A more notable feature is that Moonshot allows users to directly purchase and sell Memecoin using fiat currency. It currently supports Apple Pay/credit card/Paypal. The convenient deposit channel paves the way for the entry of Web2 users.

● Four.Meme

Four.Meme is a Memecoin issuance platform based on BNBChain, which was launched in early July this year. Like similar platforms, Four.Memes token startup cost is extremely low, and users only need to pay a transaction fee of about ~ 0.005 BNB (about 3 US dollars). Four.Memes fundraising amount is optional, divided into 2500, 5000, 10000 or custom. When creating a project, the creator can check the box to create a Click.fun Telegram community and purchase 5% of the tokens as user incentives.

(Source: Four.Meme)

Four.Meme has set up a ranking function and an invitation mechanism, which is very similar to SunPump. In addition, Four.Meme has opened an airdrop section, where users can get corresponding points after completing tasks. Task types include: socializing, token creation and trading, and interaction with other project parties in the BNBChain ecosystem.

As of now, Four.Meme has created more than 7,200 tokens, of which 88 projects have been successfully migrated to PancakeSwap for trading. Four.Meme has more than 19,500 users and has accumulated a total income of approximately 282 BNB, equivalent to a market price of approximately US$160,000.

According to on-chain data, the period with the largest transaction volume of Four.Meme was in mid-to-late August of this year. At that time, the emergence of golden dogs such as BIC, binancedog, and binancecat added fuel to the popularity of Four.Meme, causing the market to fall into a brief frenzy.

(Source: Dune@four_meme)

At the same time, the Four.Meme team also began to focus on launching a number of activities, such as: Meme creation competition, accelerator program, etc. In the accelerator program, Four.Meme and BNBChain officially provide all-round support for Meme project parties, covering basic traffic, platform support and broader ecosystem support.

Memecoin issuance platform horizontal comparison and analysis

Judging from the data, although Pump.fun is occasionally overtaken by other issuance platforms, in the long run, it still maintains a very high market share, and is far ahead in both the number of token deployments and the platforms cumulative revenue.

From the perspective of issuing blockchains, Solana is still the main battlefield for Memecoin issuance and trading. Although Tron started late, it still got a share of the pie with SunPump. As for other public chains such as BNBChain and Base, more efforts are needed.

Of course, not only the above-mentioned public chains are making efforts in the Meme track, but also blockchains including Bitcoin, Avalanche, TON, NEAR, etc. have also launched Memecoin issuance platforms, actively attracting users and funds for their own ecosystems, such as: wonton.fun, Satspumpfun, memefun, Thunderhood, etc.

From the perspective of platform functions, the Memecoin issuance platforms currently on the market are not very different. They are basically based on the basic functions of Pump.fun and extend outward to make small innovations and improvements. For example, SunPump and Four.Meme have introduced rankings and invitation mechanisms, Moonshot pays more attention to the security of smart contracts, and supports legal currency purchase and sale to facilitate the participation of Web2 users, while MakeNow.Meme has improved the market-making model and pioneered the function of issuing coins by posting articles. As the pioneer, Pump.fun has not lived off its resources and is still actively exploring new functions. The Pump.fun advanced section has been newly launched.

As the scale of Memecoin continues to expand and the markets investment logic in this field changes, it will inevitably receive more attention at the infrastructure level and will inevitably receive more all-round support from project parties, ecological foundations and VC institutions.

As for the Memecoin issuing platform itself, when facing more and more challenges from competitors, polishing products and services is the top priority. Only by focusing on users, firmly grasping their core needs, providing differentiated and professional functions, and maintaining innovation and vitality can we maintain long-term competitiveness.

In addition to the excellent product quality, if a few Golden Dog projects are launched at this time, or a certain money-making effect can be maintained, then there is no doubt that the Meme community will flock in like hyenas, and with the huge traffic and capital support, it is only a matter of time before it reaches the top.

Phần kết luận

Under the profit-seeking nature of the market, Memecoin has been given new connotations from its initial speculative target and is regarded as a new economic form. Crypto users pursuit of Memecoin has stimulated the birth of the Memecoin issuance platform, and the fair issuance platform headed by Pump.fun has opened up huge imagination space for the growth of the Memecoin track.

For users, the significant development of Memes ecological infrastructure has further improved their user experience and provided more diverse choices. But at the same time, the extremely low threshold for issuing coins also means that the market is too flooded, and more than 99% of Memecoins will be reduced to zero within 1-2 days. The probability of finding treasure in a garbage dump is imaginable, so crypto users must be cautious when participating in the Memecoin project and invest rationally within their risk tolerance.

Bài viết tham khảo:

[ 1 ] https://foresightnews.pro/article/detail/70068

[2] https://reports.tiger-research.com/p/memecoin-launchpad-market-analysis-eng

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