MEME Goes Viral, Analyze the Opportunities for 'pumpfun' Players

[TL；DR]:

When both Bitcoin ETF and Ethereum ETF are approved in 2024, Meme coin will become a new growth point in the blockchain eco.

The success of pump.fun has sparked the emergence of various imitations in the market, such as SunPump on the TRON chain, EtherVista on Ethereum, and Four.meme on the BNB chain.

These platforms have adopted the pump.fun model and attempted to attract users by lowering the coin issuance threshold and simplifying the operation process, but most still find it difficult to surpass pump.fun’s leading position.

Introduction

After BOME sparked the trend of decentralized coin issuance, one-click coin issuance represented by pump.fun has become a new trend. This article will explore the current situation and opportunities of these new Meme launchpad platforms in depth.

Support One-Click Sending of Meme, pump.fun to Become the Top Stream

Undoubtedly, pump.fun has already occupied the top position as a meme coin issuance platform in the Solana eco. In fact, since its launch in February 2024, pump.fun did not initially attract widespread attention until mid-March, when it quickly rose to prominence with the Meme coin craze led by BOME in the Solana eco.

The core competitiveness of pump.fun lies in its efficient asset issuance mechanism and fair chip distribution method, which make the platform stand out in the Meme coin market. The platform claims that its token issuance process is transparent and has no pre-sales or team assignments. Although this claim has been questioned in practice, pump.fun has still achieved significant value capture through a fee-based model.

Source: pump.fun

In terms of income, pump.fun has shown astonishing growth momentum. In early April this year, the platform generated a revenue of up to $5.2 million within 38 days and rapidly increased to $30 million in early June. As of early July, pump.fun’s 24-hour revenue ranked first in the blockchain industry, reaching $1.99 million. Currently, the platform has generated a total revenue of approximately 700,000 SOLs (approximately $94 million). Especially during specific market hot periods, such as the Meme coin issuance frenzy triggered by Musk’s conversation with Trump, pump.fun created a large number of new tokens and achieved high revenue in a short period of time.

Source: DUNE

However, the development of pump.fun has not been smooth sailing. The platform suffered a lightning loan attack, resulting in a loss of approximately $1.9 million. Although security was restored through contract upgrades, it also revealed many risks behind the lightning speed.

In short, pump.fun relies on Solana’s inherent Meme eco traffic, its low threshold, and fair and transparent token issuance characteristics, leading to a new trend in Meme coin issuance. As a result, various imitations of pump.fun have emerged. We will share them one by one below.

SunPump: TRON Chain Trending Meme Launchpad

SunPump is a Meme coin issuance platform based on the TRON chain. It has attracted widespread attention since its inception due to Justin Sun’s influence.

This platform is similar to the pump.fun model but has its own unique features. In just 14 days, it witnessed amazing growth, successfully issuing 31,986 Meme coins and achieving platform revenue of up to 12,810,000 TRX (approximately $2 million).

Source: SunPump

Of particular note is that during certain periods in late August, SunPump surpassed similar platforms pump.fun in key metrics such as revenue and the number of new tokens. Popular related tokens include SUNDOG, SUN, etc., all of which have spot support on Gate.io.

Source: DUNE

EtherVista: Meme Launch and DEX Platform on Ethereum

EtherVista is an innovative DEX designed specifically for the Ethereum network. It aims to reshape the standards of token issuance and liquidity management to provide a more secure, efficient, and transparent digital asset trading experience.

EtherVista strives to solve the short-term profit-chasing problem commonly found in the current Automated Market Maker (AMM) model through its unique mechanisms, such as paying custom fees only with ETH, emphasizing long-term benefit distribution models, and the deflationary VISTA Token.

Source: ethervista.app

This platform features a unique economic model, with main highlights including:

Deflation mechanism: VISTA claims to be a “value compounded deflationary currency” that maintains its value through automatic repurchase and burning of tokens. Currently, 2.17% of the total supply has been burnt.

Liquidity lock-up: The platform requires an initial liquidity lock-up of 5 days to enhance market confidence and prevent short-term arbitrage behavior.

Trading fee allocation: Transaction fees are denominated in ETH and directly allocated to liquidity providers (LPs). This mechanism aims to incentivize more users to participate and provide liquidity.

This protocol has given birth to popular memes such as VISTADOG, VISTAPEPE, BONZI, etc. The platform governance token VISTA has attracted many people with a 1,500% increase since its launch, and Gate.io currently supports spot trading of this coin.

Source: DUNE

EtherVista plans to gradually expand its features in the future, including introducing ETH-BTC-USDC fund pools, providing advanced DeFi services such as zero-fee lightning loans and futures, and striving to create a decentralized application eco that integrates multiple functions.

Four.me: The Meme Launchpad for BNB Chain

Four.me is also a token issuance platform based on the pump type Meme Launch protocol, which introduces internal and external trading, Bonding Curve mechanism, and has the following unique advantages:

Limited Purchase: To prevent excessive concentration of tokens, allow token deployers to set a maximum purchase amount for investors.

Scheduled release: Token deployers can choose the specific start time for internal trading.

Low trading fee: The transaction fee is 0.5% (minimum 0.001 BNB), lower than the pump’s 1%.

Low coin issuance cost: The coin issuance cost is 0.005 BNB (approximately $2.85), which is more economical than the pump’s 0.02 SOL (approximately $3.16).

Source: four.Meme

Well-known Memes related to this platform include binancedog, binancecat, bnbcat, FOUR, etc.

In addition to the aforementioned Meme distribution platform, there is also an AI-based Memehub AI, which supports BNB, BAse, ETH, Blast, TON chains for trading without providing liquidity, as well as Satspumpfun based on the Bitcoin chain supported by Fractal Bitcoin, STIX published by Stickerly, the world’s largest Web2 user-generated content sticker publishing platform, and Wonton.fun for Meme and Snek.fun for Cardano Meme for only 0.08 TON.

According to incomplete statistics, since 2024, there have been more than ten projects with Meme Launchpad or Meme Launchpad functionality on each chain, similar to the situation where various public chains supported inion minting at the beginning of the year.

Summary

Although Meme has become a new growth point in the blockchain eco in 2024, with the approval of Bitcoin ETF and Ethereum ETF, Zhuyu’s one-click coin issuance platform on the Solana network and eco applications represented by pump.fun still firmly dominate. The operation of Meme ecos on various chains still seems to be imitative but lacks progress. Although they try to attract users by lowering the coin issuance threshold and simplifying the operation process, they lack sustained wealth creation effects and strong liquidity support, making these efforts often inadequate.

There are few competitors in the market that can compete with pump.fun, not because pump.fun’s technology or model is impeccable, but because of the special nature of the Meme coin market. Users pursue tangible wealth creation effects, community advantages with concentrated traffic, and simple low-cost solutions, rather than complex functions or fancy platform concepts. If the new platform cannot attract incremental liquidity through innovative means, the “one-click coin issuance” function will lose its core value and become a castle in the air.

Especially in the current tight liquidity situation, the trend of Meme market may rotate instead of a general rise, which undoubtedly forces major public chains and ecos to actively seek new breakthroughs. TRON, with its founder’s influence, is making great strides, BNB Chain and others are also exploring new strategies to attract users, and potential players such as TON are eager to become the next battleground for the Meme coin craze.

In short, the Meme coin craze may continue to evolve, and new territories such as TON may also emerge. But no matter how the market changes, investors should adhere to rational analysis and participate cautiously.