- BNB Chain has launched its memecoin launchpad GraFun.
The platform generated strong traction, just as Pumpfun and Sunpump did.
As an analyst with years of experience navigating the ever-evolving cryptocurrency landscape, I find myself intrigued by BNB Chain’s latest venture, GraFun. Having witnessed the meteoric rise and fall of numerous memecoins, I must admit that I approach such developments with a mix of skepticism and curiosity.
In this market phase, meme coins have been particularly popular, and numerous platforms are now preparing to capitalize on the increasing speculative buzz.
Towards the closing days of September, BNB Chain entered the scene by introducing its meme-based coin launchpad, GraFun. This event took place prior to the release from prison of Changpeng “CZ” Zhao, who previously served as CEO at Binance.
On its inaugural day, DWF Labs’ launchpad generated a revenue of $100,000 in fees and introduced 5,800 different meme coins to the market, according to Andrei Grachev, who leads the company.
I’m thrilled to back Grafunmeme! It contributed approximately 250 million dollars worth of DTV and around 5,800 fresh memes to BNB Chain, raking in a whopping 100,000 dollars in fees within just one day!
GraFun launchpad overview
As a researcher delving into this fascinating field, I’ve taken note of an exciting development by the Floki team. They’ve highlighted that their upcoming platform, which includes launchpad support, is intended to surpass Solana’s Pumpfun in terms of functionality and efficiency. In simpler terms, they aim to create a superior version of what Solana’s Pumpfun offers.
Moreover, the team gains a 40% stake in GraFun, encompassing all associated earnings. DWL Labs, meanwhile, is identified as a key collaborator, though their ownership details remain undisclosed at this point in time.
As a researcher, I’m excited to be part of a community that collaborates with innovative platforms like BNB Chain, DeXe protocol, and HOT protocol. Our upcoming meme coin launchpad is set to challenge established players such as Tron’s Sunpump and Solana’s Pumpfun. These platforms have already demonstrated impressive revenue generation capabilities, amassing millions within mere months of their operations.
But the platforms always make money even if a meme coin doesn’t launch after failing to attract the demand and liquidity threshold.
According to the Floki team, GraFun is a fair and different platform. It noted,
GraFun concentrates on establishing a just initial distribution system, enabling memecoins that users are interested in to be featured on Decentralized Exchanges (DEXs).
Starting from October 1st, the platform has introduced more than 9,000 meme coins, and among them, Baby BNB (BABY) stands out as the most prominent one, boasting a market capitalization of over $80 million.
Prior to its launch, the platform boasted 3.9 million pre-registered users, while currently, it enjoys a following of 4.3 million members on its Telegram group. This significant growth indicates a robust user engagement.
At the current moment of reporting, the demand for FLOKI and BNB has not significantly increased yet, resulting in a decrease in their prices. This downward trend can be attributed to a general sell-off, which is connected to escalating geopolitical issues.
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2024-10-03 03:03