The memes of BASE chain, SOLANA chain, and SUI chain have all become popular, but the BSC chain backed by Binance, MEME coin, has remained silent so far, which is really wrong. BSC (Binance Smart Chain) itself has the advantages of fast speed and low cost, and relying on the Binance ecosystem, the strong performance of BNB also brings strong support. However, the meme projects on the BSC chain have never been as successful as the projects on the public chains mentioned above. There are several main reasons:

  1. Too many scam projects: Due to BSC’s low transaction fees, anyone can easily create tokens, resulting in many unethical project parties quickly issuing coins to make money.

  2. Project parties hold too high a proportion of tokens: Many project parties usually hold too many tokens, which can easily drain liquidity quickly through sell-offs, damaging the interests of retail investors.

  3. Social media fraud is rampant: for example, the user VT_BNB on Twitter defrauded 20,000 BNB by collaborating with other kols to promote and make promises, which ultimately affected the overall credibility of the meme project on the BSC chain.

How to rebuild the trust and vitality of the BSC meme ecosystem?

One possible solution is to adopt a more transparent and decentralized crowdfunding model to ensure safer and fair fund management. The following options can be considered:

1. Crowdfunding Model

  • Project crowdfunding is carried out through smart contracts, allowing users to subscribe to tokens with BNB or other tokens. The subscription funds will be automatically locked in the contract instead of flowing to the project party’s personal wallet.

  • Transparent fundraising and trading mechanism: Set a reasonable goal. When the subscription reaches a certain proportion (such as 51%), the project automatically starts trading and automatically injects liquidity into the liquidity pool to prevent the project party from operating funds privately.

2. Minting fees are used for liquidity

  • During the token minting phase, the minting fees are directly injected into the liquidity pool of decentralized exchanges (such as PancakeSwap). This method ensures that the funds are directly used to increase the liquidity of the project and avoids the risk of funds entering the project wallet and running away.

  • For example: During the token sale phase, 51% of the funds and 49% of the remaining tokens are locked in the liquidity pool, and transactions are automatically initiated instead of being controlled by the project party.

3. Liquidity Locking and Auditing Mechanism

  • Projects need to audit and disclose their smart contracts in advance to ensure that liquidity is locked and that the smart contracts themselves have no backdoor mechanisms. This can be done through third-party audit companies (such as CertiK) or public code to improve the transparency and trust of the project.

The contract implements a crowdfunding model, with all funds injected into the liquidity pool, improving the transparency of the project and community trust.

Through these strategies, meme projects on the BSC chain can build a more reliable ecosystem and attract more investors to regain trust.

I hope the meme on the BSC chain can regain its glory.