In this cycle we have seen how the #memecoins narrative has grown exponentially on different blockchains, attracting the attention of many users. This in turn generates greater activity on the network and gives rise to the development of new platforms related to memecoins. Thus, one of the latest topics that is causing a stir is memecoin launch platforms, which are increasingly present on various blockchains. How does this memecoin launch platform work? Is it a good or bad thing? Let's explore.
In this article I will only focus on the pump.fun launchpad on the #Solana blockchain, however, there are others.
Pump.fun is a platform to create memecoins on the Solana network, which since its launch has caught the attention of several users for its very easy-to-use interface, and as they point out, the way to create memecoins and launch them on the market, making it possible for any user to do so.
Also, the process for creating memecoins changed recently, since before $2 was required for the creation of each token, however, now it is free and you can even generate a reward if you are successful.
Just to give you an idea, due to the furor caused by the launch of this platform, it attracted new users, surpassing 300,000 in the week of June 17, a number that cannot go unnoticed.
The platform is becoming more and more well-known, attracting the interest of retailers to buy the next #memecoin that will explode in the market. This translates into a growing number of daily transactions on the platform.
For the most up-to-date growth, in the last 24 hours 21,113 #tokens have been created on the Solana network, of which only 209 were successful, the rest either rugged (developers disappeared with the money generated) or did not reach the threshold for the Radyum DEX.
This is where the story starts to turn negative, with users claiming that the real winner is the platform due to the fees generated by the transactions carried out. As of today, Pump Fun has a total of $80 million dollars from the fees generated on its platform since its creation.
Is the platform a good or bad thing for the market?
From my perspective, I don't see anything positive or negative about the platform existing on the Solana network. It's a free market and anyone can develop their platform and launch it. No one is forced to go through that platform. In addition, users who want to buy a new memecoin already know what they're getting into, where you can get lucky and make a profit or simply lose your money.
Now I also think that due to the flood of new memecoins, there is more quantity than quality in memecoins, where it will be difficult to differentiate, at least initially, a good memecoin from a bad memecoin, and this is only decided by the market.
On the creator side, it's now much easier to create a memecoin, so anyone can experience the creation, and why not, the growth of their token. Always do your due research.
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