The Open Network team has launched Memelandia, a decentralized hub aimed at expanding the memecoin ecosystem on the TON blockchain
Interest in “meme” coins has not faded since the end of 2023. Amid the ongoing excitement, TON is launching the Memelandia project to increase activity related to memecoins.
How Memelandia Will Strengthen the Memecoin Ecosystem on TON
According to TON developers, Memelandia is a decentralized hub for communities of various memcoin projects. The platform offers a unique environment in which to develop and share innovations.
Memelandia includes several platforms that encourage collaboration and competition among memecoin fans. One of them is Launchpad Lair, designed to launch new “meme” coins. Meme Mountain and Cabal Arena allow you to participate in battles between communities, token creators, and traders. The new initiative also includes Community Forest, Memecoin Armory, and Lagoon of Digital Resistance.
Projects participating in the Memelandia initiative increase their token trading volumes, increase their market cap, increase engagement, and aim to be listed on decentralized exchanges (DEXs). The communities with the best results receive rewards in the form of airdrops and other incentives.
Read also: The best tokens on TON — top 10
Memelandia will also offer tools for traders and memecoin creators, such as trading bots and launchpads. In addition, the platform will provide marketing support and facilitate community engagement to promote memecoins outside the TON ecosystem.
"TON's strategic position attracts Telegram's huge audience to cryptocurrencies, especially memecoins. Thus, Memelandia opens up unique opportunities for the growth of "meme" coins, which are supported by the creative energy of enthusiasts," the Open Network team said in a statement.
The decision to launch Memelandia was driven by the huge popularity of memecoins on TON. In August, the popular Telegram project DOGS presented its own “meme” coin. The launch went down in history: more than 17 million players branded the tokens of the same name on the very first day. As a result, the number of transactions soared to 14.4 million per day, which led to disruptions in the operation of The Open Network.
The rise of memecoin activity, coupled with the integration with Telegram, has significantly increased the popularity of TON. There are currently over 11.8 million monthly active wallets on the network.
Read also: Over the past month, TON has processed 50% of all transactions on L1
In addition to TON, memecoin activity has increased on other platforms, such as Tron and Solana. Against this backdrop, even some institutional investors are declaring that they want to enter the meme coin market.
According to Su Zhu, founder of the now defunct hedge fund Three Arrows Capital (3AC), the memecoin sector will soon see a huge influx of institutional capital.
"I heard that liquid funds that previously rejected memecoins are now getting questions from LPs about why they missed out on the big hype. Institutional investing in memecoins will likely be the main theme of Q4 2024," he wrote in X.
