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Solana's new Meme coin platform ignites the market, with daily revenue surpassing a certain well-known DEX.
New Meme Coin Platform on Solana Ignites the Market
A new platform focusing on the issuance and trading of Meme coins on the Solana blockchain will launch in January 2024, quickly sparking a craze and pushing the Meme coin market into a new phase. The platform emphasizes fair issuance, with no pre-sales or team allocations.
The platform's data is impressive, with cumulative revenue exceeding 200 million USD. During peak periods, daily income can reach several million USD, surpassing a well-known DEX at one point to become the fourth largest protocol on the entire network.
This phenomenal product uses a joint curve pricing model, requiring no initial liquidity injection. The token price has a positively correlated exponential rise with quantity, with early purchase prices rising slowly, while in later stages the same amount of funds can drive up much more. This mechanism encourages early investment and has a leverage effect in later stages.
The platform operates in two phases:
Fundraising stage: Users create tokens with 0.02 SOL, with a total supply fixed at 1 billion and an initial circulation of 0. Other users purchase and release tokens.
Trading phase: When the market value reaches $100,000, the circulating supply is 800 million coins. The platform will mint an additional 200 million coins to form a trading pair with the raised SOL and list it on a certain DEX.
During the entire process, the platform charges a 1% transaction fee and a 6 SOL listing fee.
Recently, the platform's live streaming feature has become extremely popular, leading to various attention-seeking behaviors. The combination of Meme coins and live streaming has formed a new model of "attention economy." Creators can quickly accumulate followers and convert them into investments. Live streaming provides tokens with instant promotion opportunities, increasing user engagement.
However, the lack of constraints may lead to the proliferation of harmful content. The platform needs to seek a balance between attracting attention and maintaining a healthy ecosystem.
Overall, the platform meets the market demand for the issuance and speculation of Meme coins, demonstrating strong product innovation capabilities. The Meme coin craze reflects the uniqueness of crypto culture and also embodies the ordinary users' desire for low barriers and high-stimulation trading experiences.