Each major chain has its own "Pump.fun", where is the most profitable place to go?

Original title: "Inventory of "Pump.fun" on various chains, where to play to make money?"

Original author: Shaofaye123, Foresight News

The mainstream market has continued to fluctuate recently, but Memecoin has continued to be popular. Pump.fun's protocol revenue hit a new high on August 13, with cumulative revenue exceeding US$100 million. Soon after Sun.pump went online, the market value of multiple Memecoins on the platform quickly exceeded US$1 million, the Gas on the TRON chain soared, and the price of TRX, which had been silent for a long time, also hit a new high in the past three years. It can be said that Sun.pump almost "single-handedly" brought the entire TRON chain "prosperity again".

In addition, Moonshot launched a new issuance mechanism, and Meme activities on the BNB chain continued. Memecoin platforms on various chains are flourishing at the same time. Which one can compete with Pump.fun? Where can users go to play to make money? This article will take you to an overview of Memecoin issuance platforms on various chains and briefly analyze their competitive advantages.

Solana

Solana Since last year, Bonk and Sol have been flying together, laying the foundation for this round of prosperity. This year, Bome 3 was on Binance, and the thousand-fold myth appeared frequently. A large influx of users and a large amount of funds have created soil for the prosperity of Pump.fun. The Memecoin issuance platform has continuously innovated its mechanism. In addition to Pump.fun, there are still many platforms worth paying attention to.

Pump.fun: From the attention economy to asset issuance innovation

Pump.fun is the undisputed leader as the Memecoin issuance platform. Although there are many latecomers now, most of them are imitations. Pump.fun still attracts market attention and popularity. Pump.fun was launched at the end of January this year, but there were few followers at that time. It was not until April that it gradually entered the public eye. The success of Pump.fun is not only due to its grasp of the attention economy, but also inseparable from the clever asset issuance design. From the perspective of product design, it has obvious competitive advantages:

· Clear positioning——Focused market + clear user group = solving real problems. "Users want to get higher multiples of returns in a simpler, faster and lower-cost way."

· Mechanism innovation——Re-optimization of asset issuance methods. Intra-market fundraising + reasonable price curve, further reducing asset issuance costs and increasing speed. Pump.fun made an update in mid-August: token creators do not need to pay a $2 creation fee, and they will also receive a 0.5 Sol reward after a successful launch. Asset issuance has truly been reduced to 0 cost, and this update is consistent with its original goal of simplifying the efficiency of UGC asset issuance.

· Business closed loop——huge transaction volume brings considerable profits. The source of profit is clear and traceable: 1% of the platform transaction fee before the launch of Raydium, and 6 SOL "currency listing fee" during the packaging and launch of Raydium.

· Operational hype——Frequent appearance of god-level projects to attract traffic and create momentum. There must be god-level projects every month, which will increase transaction fees. (As shown in the figure: god-level projects appeared before and after the surge in transaction fee income on Dune)

· Interaction optimization——The participation method is extremely simple, and the interactive interface is extremely colorful. It further lowers the threshold for participation and stimulates participation motivation.

MakeNow.Meme: Optimization of the market-making model

As a new issuance platform, although MakeNow.Meme is not very popular now, it caused a great upsurge when it was first launched, and celebrity coins exploded for a while. More than 2,600 Memecoins were issued on the previous day, with a profit of more than 230+ SOL. Compared with Pump.fun, the issuance mechanism of MakeNow.Meme is not only a simplification of the asset issuance method, but also provides a new direction for the market-making model.

· Simplification of asset issuance method-On Twitter, post a tweet in a fixed format (the tweet starts with a $ symbol and a stock code, plus a token description/video/picture, etc.) and @ the official account, and wait for the official account to reply to the token contract address in the comment area.

· Optimization of market-making model——Fair launch method On the surface, everyone needs to scan the chain to obtain the contract in the first time. But in fact, KOLs and project parties may reach an agreement with the platform privately to snipe and buy low-priced chips in advance.

Moonshot: Backed by DEX Screener's natural traffic

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 very few compared to Pump.fun. In my opinion, Moonshot has not done a good job in taking over and converting DEX Screener's natural traffic. As a trading aggregation platform, DEX Screener has developed fewer and opaque functions on Moonshot. MetaData is not displayed before launch, and the launch history cannot be easily checked. At the same time, it lacks social comment functions similar to Pump.fun. These made it impossible to trace the Degen players before the launch, retail investors could not communicate, and it was difficult for the dealer to set up a game. The Moonshot interface design is restrained and simple, but the Memecoin issuance platform developed by the regular army does not seem to be suitable for the local dog market. However, Moonshot is still iterating. In mid-August, it announced a new mechanism for issuing Meme tokens in cooperation with Meteora to incentivize developers.

Base

Base chain has never lacked active users, and the linkage between Farcaster and Memecoin has quickly brought about an active ecosystem. There are many Memecoin issuance platforms on it, but most of them lack stamina and are not popular enough.

Ape.Store: An extremely similar replica

Ape.store and Pump.fun are almost the same in terms of functions and interfaces. After the Dev creates a token (free except for gas fees) that reaches a market value of 69K, it will be automatically listed on UNISWAP at the same price, and then the LP will be destroyed immediately. After Pump.fun announced the update, it also immediately announced on Twitter that "from now until August 31, 2024, 0.1 ETH will be given to any developer who launches a project on it and logs on UNISWAP." Unlike Pump.fun, the platform has a clear ranking system based on transaction volume, number of invitees, etc., and has implicit expectations for issuing coins.

Rug.fun: Horse Racing Game

Rug.fun comes from the Farcaster ecosystem and is relatively interesting in gameplay, similar to horse racing games. Players need to guess the 1st and 10th place correctly to get high odds returns. Each round of the game lasts 12 hours, and players can create tokens or buy tokens. Initially, players can change bet tokens at will without charging additional fees. As time accumulates, the cost of changing tokens increases. Eventually other projects will add liquidity to the No. 1 pool to achieve price growth. The official Twitter account announced on August 15 that it is being updated after not being updated for 2 months.

Trugly.meme: From MemeX to Meme 404

As a Memecoin issuance platform, Trugly.meme's asset issuance mechanism is not much different from Pump.fun, but its asset gameplay is more diverse. The launched MemeX allows anyone to create memecoin for a Twitter account, and only the account owner can claim the MemeX memecoin. After claiming, 80% of the transaction 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 destroy NFTs based on changes in memecoin balances, ensuring level updates.

Bibobibo: Bullet screen social networking

Bibobibo sounds a bit similar to Bilibili, and its main functions are also similar. The product feature is a bullet screen trading platform centered on Meme, allowing users to communicate at any time while participating in Memecoin, which is an expansion of the comment function of Pump.fun. However, compared with MakeNow.Meme's attention economy, Bibobibo's attention only occurs in the latter link. The project is still in its early stages and has not yet been officially launched.

BNB Chain

Four.meme: The origin of Four

As an issuance platform on the BNB chain, Four.meme has a connection with BNB from the project name to the brand logo. It uses CZ's classic gesture "Four". In addition, 4chan, as a fermentation platform for Memecoin in Web 2, may also have influenced the brand name of Four.meme. Whether from the speeches of the team founders or various activities, Four.meme has received considerable help from BNB Chain. It cooperated with FOUR tokens to launch an airdrop event. Users can get points by completing related tasks on the designated page of the platform. The points can be exchanged for BNB Chain ecological Meme coins FOUR and WHY. The event was supported and forwarded by BNB Chain. Affected by this news, FOUR rose by more than 65% in 24 hours. In mid-August, Four.Meme started holding a Meme creation contest, with a total prize pool of 1 million Four.Meme points and $20,000 worth of Meme tokens. In2Ventures founder Bili, NBA star Tristan Thompson, WHY, and the FOUR team were invited as guest judges.

Flap: Advanced PVP

Flap is a decentralized social application protocol on EVM, born at the ETHGlobal hackathon. The team members have strong backgrounds and come 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 Memecoin reaches $24,000, it will automatically enter the duel candidate pool. These tokens will fight one-on-one, and participants can only buy tokens but not sell them during the duel (the price of tokens will continue to rise). Each game lasts 30 minutes, and the token with the highest cumulative purchase volume during this period will win. The liquidity of the losing token will be used to purchase the winning token, thereby increasing its market value and community size. If the market value of the winning token reaches about $1 million, it will be listed on a decentralized exchange. At present, OKX wallet has integrated Flap to enhance the interactive experience. In addition, Flap said that it will also hold a trading competition, and participating in the transaction can obtain airdrop points for redemption of airdrops.

Tron

Sun.pump: Strong rise, out of the circle in one week

Sun.pump is the first meme issuance and trading platform released by Tron. Its Beta version was officially launched on August 13, and it has quickly established strategic partnerships with Dex Screener, Huobi HTX, and Poloniex, and jointly launched a $10 million Meme ecosystem promotion incentive plan with Trondao. Hot money surged and it quickly became popular.

One week after Sun.pump Beta was launched, the market value of multiple Meme projects exceeded $1 million. Among them, Sundog has a market value of nearly $300 million, and its 24-hour trading volume exceeds $5 million. The official is also constantly operating and building momentum. After Sun Yuchen changed his Twitter account to the "Black Myth" Wukong avatar, the market value of his Memecoin SUNWUKONG rose 8 times to $5 million in a short period of time. Under the continuous momentum, the price of TRX has also risen further.

Aptos

Uptos: Platform Coin = Mememcoin

Uptos is the Memecoin Launchpad on the APT chain. In addition to the basic token issuance function, it also integrates the distribution and burning functions required by Dev. In the future, it will also launch the functions of receiving tokens and linear release. The platform was launched in April. After the launch, the official token UPTOS was launched, with a maximum market value of 13m. Later, other assets on the platform failed to continue to receive funds, and the UPTOS price returned to a market value of 1.2m.

Avalanche

BellumExchange: Defi Version of Memecoin Issuance Platform

BellumExchange is the Memecoin Launchpad on the AVAX chain. It uses a liquidity order book similar to Trader Joe's. Users can create different pricing curves and form different issuance strategies on BellumExchange. Compared with other platforms, the pricing curve is customizable, the total supply is customizable, and there is no token creation and LP migration fee, which is the main feature of good quality and low price. In addition, the use of a mechanism similar to Trader Joe's brings 0.25% of the income for each Epoch JLP to Memecoin stakers.

Fractal Bitcoin

Satspump.fun

Satspump.fun is a Memecoin issuance platform on the Bitcoin extension network Fractal Bitcoin. At present, the platform has reached a cooperation with UniWorlds, the infrastructure of Bitcoin ecological chain games. On August 9, the official announced that a BRC-20 airdrop will be conducted. Users who hold $300 worth of whitelisted BRC-20 tokens (ORDI, SATS, PIZZA, SHNT, WZRD, HONK, RATS) or 3 bitmaps in their wallets are eligible for this airdrop. Currently, the Fractal Bitcoin mainnet has not yet been launched and will be officially launched on September 1.

Summary: The platform is becoming increasingly diversified, and liquidity is being divided again

At present, each chain in the market has its own Pump.fun. With the rise of Memecoin issuance platforms on different chains, the traffic of the Memecoin market is being shared, the market lacks new liquidity, and the token market value is difficult to increase. The cake is divided again. Diversified competition does not bring about a decline in PvP, but more intense competition. With Web 2 giants fighting each other, the price war brings a lot of user subsidies and benefits. In the Memecoin market, there is no new incremental liquidity in the market, and it is more difficult for users to make money under the division of many platforms. Memecoin is a zero-sum game market with a lot of luck. The investment returns calculated by the Kelly formula are advising us not to participate in this game where nine out of ten bets are lost without a good strategy.

In terms of the current platform competition, Sun.pump, as a rising star, has recently attracted a lot of attention and driven up the price of TRX. For a time, the market was filled with hot money, liquidity was overflowing, and Tron's new users surged. It is now a platform with obvious money-making effect, but it is difficult to determine whether it can continue to maintain it in the future. Secondly, Solana is the blockchain with the best liquidity of Memecoin. It is difficult for users to change their inherent habits for a while, but it is difficult to see whether they can regain their attention in the short term. Although Base Chain and BNB Chain have official activities and support, the wealth effect is not obvious.

"Tokens are the new content, the buy button is the new like button, market capitalization is the new engagement metric, and transaction fees are the new advertising revenue." The Memecoin issuance platform, which seems to be flourishing, is in crisis and urgently needs a new narrative to expand market growth.

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