CoinWorld reported:
The surge of public chains has led to the emergence of the “AI+Meme One-Click Token Issuance Platform,” which may become the next hot trend.
There is no doubt that Meme has become the “version answer” of this cycle.
In previous articles such as “After one-click token issuance becomes the “new password” of encryption, which platform can compete with pump.fun?” and “Vista multiplies by 100 in one day, a review of 7 potential one-click token issuance platforms,” we introduced many one-click token issuance platforms. However, at that time, these platforms were more inclined towards application projects rather than “ecosystem platforms.” This is also one of the important reasons why many projects gradually lost their popularity. Without ecosystem-level support and sustained wealth creation effects, it is difficult to sustain liquidity for a long time. The fact that ApeChain’s mainnet launch and its one-click token issuance platform Ape Express gradually fell silent after 24 hours of popularity is the best proof of this point.
In this article, Odaily Planet Daily will briefly review the development status of various one-click token issuance platforms in different ecosystems in the past few months for readers’ reference.
Solana ecosystem pump.fun: The pioneer of this wave of Meme coin frenzy
As 2024 approaches, the formal approval of Bitcoin spot ETF further deepens the integration between the cryptocurrency industry and the traditional financial sector. VCs with “high FDV and low market capitalization” were gradually abandoned by the market after experiencing the frenzy of listing in the first half of the year. Instead, Meme coins, which focus on “fair launch and high odds,” have become popular investment targets for countless people.
Although Meme coins are highly risky overall, no one wants to miss the opportunity to get rich in the face of repeated miracles. The emergence of pump.fun provides liquidity and attention for “on-chain gamblers” and “PVP players.” It is not surprising that the saying that promotes the Meme coin frenzy spreads like wildfire and becomes a true portrayal of this cycle: “Value investment is in vain, gamble with Meme and live in the palace.”
On October 23rd, pump.fun officially announced its support for token issuance through videos. Users can choose to upload videos and create tokens, and allow other users to access them on the main page. Since then, this one-click token issuance platform, which has emerged since March, finally has some of the characteristics of the TikTok, the king of Web2 social media—multimedia content, low token issuance threshold, high odds projects, etc., all of which have brought unprecedented high activity to on-chain transactions in the Solana ecosystem.
pump.fun basic data
As of October 23rd, according to Dune data, the operational data of the pump.fun platform is as follows:
There have been a total of 2,623,866 token issuance projects.
The protocol’s revenue reached as high as 985,654 SOL tokens.
On August 12th, the daily revenue of the protocol reached a peak of 35,076 SOL tokens.
On October 18th, the total number of on-chain transactions in the Solana ecosystem DEX reached 21.491 million, of which pump.fun-related transactions accounted for approximately 63.3%.
The latest news is that the daily transaction fees on the Solana blockchain have reached the highest level since early May 2024. In the past 24 hours, Solana’s on-chain transaction fees have risen to $3.85 million, a significant increase compared to the average of the past six months.
According to data from the DefiLlama website, as of October 23rd, the total revenue of the pump.fun protocol reached $136 million. In addition, it is understood that the number of active addresses on pump.fun has recently increased to 85,000, with 37,000 of them being new wallets, indicating strong demand from users to participate in Meme coins. The airdrop plan revealed by the founder of pump.fun has also sparked a new round of market interaction. We will wait and see if it will bring a new wave of “big gains” for users.
Base ecosystem: No successful breakout for one-click token issuance platforms yet
Unlike pump.fun’s dominance in the Solana ecosystem, the Base ecosystem has not seen any one-click token issuance platform successfully break out and achieve stable operations since the Meme frenzy in the Solana ecosystem in March this year. There have been a series of Meme coin projects, including DEGEN, MFERCOIN, BRETT, TOSHI, BYTG, etc., that triggered FOMO sentiment, but perhaps due to the Base ecosystem’s official restraint on speculative projects or the difficulty of Meme coins in the Base ecosystem breaking away from the influence of Meme projects in the Ethereum ecosystem, no one-click token issuance platform has emerged successfully.
Previously, Meme coin project MIGGLES, which Coinbase publicly supported, also disappeared among the many Meme coin waves after experiencing a surge in market capitalization (the token price exceeded $0.1 and the market capitalization exceeded $100 million) around July 20th.
It has to be said that for Meme coin projects, being able to sustain activity for three months is already a rare occurrence. A top platform like pump.fun, for example, has launched a total of 248,400 tokens this month, with only 3,255 tokens listed on the Solana ecosystem DEX Raydium. Among them, only two tokens have a market capitalization exceeding $100 million, highlighting the brutal reality of survival of the fittest in the Meme coin field.
TRON ecosystem SunPump: Using the power of Meme coins to assist ecosystem growth
Different from the “everyone’s Meme” atmosphere in the Solana ecosystem, SunPump, as a latecomer in the TRON ecosystem, has successfully gained a foothold in the ecosystem’s development map with its “raising high and striking hard” strategy and its “fast and aggressive” attitude.
At the beginning of SunPump’s launch, we detailedly introduced it in a previous article titled “TRON Meme revolution in full swing: SunPump leads the frenzy and holds the momentum high.” We mentioned that SunPump is an attempt by the TRON ecosystem to achieve “ecosystem growth” based on the continuous development of stablecoins in the TRON ecosystem. Since then, the emergence of popular Meme coin projects such as SUNDOG and SUNWUKONG has contributed significantly to the protocol revenue, network activity, and overall development of the TRON ecosystem.
As of October 23rd, according to Dune data, the specific operational data of the SunPump platform is as follows:
There have been a total of 90,873 token issuance projects.
The total protocol revenue reached 34,972,493 TRX tokens.
On August 21st, the peak daily token issuance volume reached 7,531 tokens.
According to data from the DefiLlama website, the total revenue of the SunPump protocol is $5.38 million. The latest news is that SunPump continues to promote various types of cooperation in terms of trading, such as the ecological cooperation with the world’s leading quantitative trading robot cryptocurrency exchange platform Pionex.com, and the official launch of the invitation rebate function on the SunPump Telegram Bot.
Sui ecosystem Turbos: Dual-token platform jointly boosts Sui ecosystem
Since Q2 and Q3 of this year, the development of the Sui ecosystem cannot be underestimated. In addition to the price rise of the SUI token itself and the development of the DeFi ecosystem, the Meme coin frenzy in the Sui ecosystem has also brought a lot of attention, liquidity, and volume. Among them, the value brought by the Sui ecosystem DEX Turbos is particularly important.
On October 16th, according to official data, the 24-hour trading volume of the DEEP token on the Turbos CLMM DEX approached $1 million, and the liquidity currently supports the trading volume at a ratio of approximately 1:15. At the same time, the annualized return of the DEEP/SUI liquidity exceeds 2000%, allowing liquidity providers to earn high transaction fee income through LP.
As one of the projects officially supported by the SUI Foundation, Turbos Finance has undoubtedly become the leading Meme coin DEX in the Sui ecosystem, with a market position comparable to Solana’s Raydium.
According to information on the official website, its daily trading volume reached a record high of $39 million on October 9th. On October 14th, its TVL exceeded $30 million, the total number of accounts exceeded 400,000, and the total trading volume exceeded $2.8 billion. The latest data shows that its TVL has stabilized at around $23.9 million. Thanks to a series of excellent market performances, its platform token TURBOS (Turbos Finance) achieved a single-day growth of 15.7% on October 12th.
In addition, on October 19th, Turbos Finance also launched the LP lock-up function, which allows liquidity providers to permanently lock the entire range of liquidity while continuing to earn transaction fees and incentives. This provides a new solution and path for the stable operation and development of Meme coin projects in the Sui ecosystem. To some extent, it can provide returns for Meme coin project parties and LP providers while effectively reducing the risk of Meme coin projects running away.
The latest data shows that Turbos Finance has accumulated a trading volume close to $3 billion, with a total number of accounts exceeding 538,600.
Conclusion: When Meme coins become the “version answer,” one-click token issuance platforms become ecosystem infrastructure
If a few months ago, more people regarded Meme coins from a “project perspective,” then its competitors and comparison objects could only be VC coins. After the successful verification of pump.fun’s business model in a few months, one-click token issuance platforms have upgraded from the “project perspective” to the level of “ecosystem-level weapons.” In other words, wherever the hotspot of Meme coins is, market attention and liquidity will follow.
The rise and fall of ApeChain and Ape Express is due not only to the limited factors of the official team but also to the fact that the market capitalization of top Meme coins on the Ape Express platform, such as CURTIS, did not break through a certain milestone number in a short period of time. It is also because the ecological applications are too scarce to attract and retain users and liquidity.
However, as the mainstreaming process of the cryptocurrency industry accelerates, Meme coins will continue to play the role of the “version answer,” and the old Meme coin kings and new Meme coin kings will take turns, making one-click token issuance platforms an indispensable part of every ecosystem infrastructure. With the addition of the huge variable of AI to the “cryptocurrency battlefield,” the “AIxMeme” one-click token issuance platform may already be on its way.
