[TL;DR]:

In 2024, when BTC ETF and ETH ETF were successively approved, Meme coin became a new growth point in the blockchain ecosystem.

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

These platforms are trying to imitate the model of pump.fun, attempting to attract users through measures such as lowering the threshold and simplifying the operation process, but most of them still struggle to surpass the leading position of pump.fun.

Introduction

Since BOME triggered the Decentralization launch coin craze, the new trend represented by one-click launch coin led by pump.fun has emerged. This article will delve into the current situation and opportunities of these new Meme launchpad platforms for you.

Support one-click to send MEME, pump.fun becomes the top stream

Without a doubt, as a Meme coin issuance platform in the Solana ecosystem, pump.fun has already occupied the top position in this track. In fact, since its launch in February 2024, pump.fun did not initially attract widespread follow, until the rapid rise in mid-March with the Meme coin frenzy led by BOME in the Solana ecosystem.

The core competitiveness of pump.fun lies in its efficient asset issuance mechanism and fair distribution of chips, which sets it apart in the Meme coin market. The platform claims that its token issuance process is transparent, with no pre-sale or team allocation, although this claim has been questioned in practice. However, pump.fun still achieves significant value capture through the fee model.

Figure 1 Source: pump.fun

In terms of revenue, pump.fun has shown an amazing rising trend. In early April this year, the platform's revenue reached as high as $5.2 million within 38 days, and quickly rose to $30 million by early June. By early July, pump.fun's 24-hour revenue ranked first on the Blockchain, reaching $1.99 million. As of now, the platform has accumulated approximately 700,000 SOL (about $94 million). Especially during specific market hotspots, such as the Meme coin issuance frenzy triggered by Musk and Trump's dialogue, pump.fun created a large number of new Tokens and achieved high revenue in a short period of time.

Figure 2 source: DUNE

However, the development of pump.fun has not been smooth sailing. The platform has suffered a flash loan attack, losing about 1.9 million dollars. Although security was restored through contract upgrades, it also revealed many risks behind the rapid development.

In summary, pump.fun, relying on the inherent Meme ecosystem traffic of Solana, combined with its low threshold and fair and transparent characteristics of Token issuance, has led the new trend of Meme coin issuance. As a result, various pump.fun imitations have emerged. We will share them one by one below.

SunPump: TRON's hot Meme launching platform

SunPump is a meme coin issuance platform based on the TRON network, which has attracted wide attention since its inception due to the influence of Justin Sun.

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

Figure 3 Source: SunPump

Of particular note, at certain times in late August, SunPump surpassed pump.fun in key metrics such as revenue and new Token quantity. Currently, the popular related Tokens include SUNDOG, SUN, etc., all of which are supported on gate Spot.

Figure 4 source: DUNE

EtherVista: Meme Launch and DEX Platform on ETH Network

EtherVista is an innovative DEX designed specifically for the Ethereum network, aiming to redefine the standards of Token issuance and Liquidity management to provide a more secure, efficient, and transparent digital asset trading experience.

EtherVista aims to address the issue of short-term profit chasing commonly found in the current AMM (AMM) model through its unique mechanisms, such as custom fees paid only in ETH, a model emphasizing long-term profit distribution, and the deflationary nature of VISTA Token.

Figure 5 Source: ethervista.app

The platform is characterized by a unique economic model, with the main highlights including:

· Deflationary Mechanism: VISTA claims to be a 'value compound deflationary currency' that maintains its value by automatically repurchasing and burning Tokens. Currently, 2.17% of the total supply has been burned.

· Liquidity Lock: The platform requires an initial Liquidity lock for 5 days to enhance market confidence and prevent short-term Arbitrage behavior.

· Money Laundering Distribution: Transaction fees are denominated in ETH and are directly allocated to Liquidity Providers (LPs). This mechanism aims to incentivize more users to participate and provide Liquidity.

The protocol has given birth to popular MEMEs such as VISTADOG, VISTAPEPE, BONZI, etc. The governance token VISTA has attracted a lot of popularity with a 1500% increase after its launch, and gate currently supports the coin for spot trading.

Figure 6 Source: DUNE

EtherVista plans to gradually expand its features, including introducing ETH-BTC-USDC liquidity pool, providing zero-fee Flash Loans, futures, and other advanced Decentralized Finance services, striving to create a Decentralization application ecosystem with multiple functions.

Four.meme: Meme Launchpad on BNB Chain

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

· Purchase Limit: Allows Token deployers to set the maximum purchase quantity for investors to prevent excessive concentration of Tokens.

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

· Low transaction fees: The transaction fee is 0.5% (minimum 0.001 BNB), which is lower than the 1% of pumps.

· The cost of issuing coins is low: the cost of issuing coins is 0.005 BNB (about $2.85), which is more economical than the 0.02 SOL (about $3.16) for pumping.

Figure 7 Source: four.Meme

Currently, the platform's popular MEME includes binancedog, binancecat, bnbcat, FOUR, etc.

In addition to the above MEME issuance platforms, there are also AI-based Memehub.AI, supporting BNB, BAse, ETH, Blast, and TON chains, allowing trading without providing Liquidity. There is also Fractal Bitcoin supported Satspumpfun based on the Bitcoin chain, STIX released by Stickerly, the world's largest Web2 user-generated content sticker publishing platform, and wonton.fun, which only requires 0.08 TON to issuance Meme. There is also Snek.fun, the Cardano Meme launch platform.

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

Summary

Although Meme coin has become a new growth point in the blockchain ecosystem in 2024 with the successive approval of BTC ETF and ETH ETF, the one-click coin issuance platform on the outstanding Solana network and the ecosystem applications represented by pump.fun still firmly occupy the dominant position. The Meme ecosystems on various chains still appear to be imitative and lacking in initiative. Although they attempt to attract users through lowering the coin issuance threshold and simplifying the operation process, they lack sustained wealth creation effects and strong Liquidity support, making these efforts often appear inadequate.

Currently, 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 uniqueness of the MEME coin market. Users pursue real wealth creation, community advantages with concentrated traffic, and simple low-cost solutions, rather than complex features or fancy platform concepts. If a new platform fails to attract incremental Liquidity through innovative means, the 'one-click coin issuance' function loses its core value and becomes a castle in the air.

Especially in the current tight Liquidity, the trend of the Meme market may rotate instead of a general rise, which undoubtedly forces major public chains and ecosystems to actively seek new breakthroughs. TRON TRON, with the influence of its founder, is making high-profile moves, and BNB Chain, among others, is also exploring new strategies to attract users. Potential players such as TON are eager to try and look forward to becoming the next battlefield of the Meme coin craze.

In short, the Meme coin craze may continue to evolve, and new players like TON may also emerge. However, regardless of how the market changes, investors should adhere to rational analysis and participate cautiously.

Author: Carl Y.

This article represents only the author's point of view and does not constitute any trading advice.

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