The new memecoin launchpad on BNB Chain, GraFun, announced that projects launching on its platform can automatically graduate to PancakeSwap V3 after reaching 31 BNB. The launchpad also mentioned that launching on PancakeSwap creates a liquidity pool that supports the next phase of their life cycles.
GraFun revealed that since its launch, over 40 projects have launched on PancakeSwap. The launchpad also explained that some of the projects have attained a multi-million dollar market cap. The most successful project that graduated to PancakeSwap achieved over $120 million in fully diluted volume, receiving several centralized exchange listings.
GraFun rakes in $250 million in volume
GraFun acquired about $250 million in the first 24 hours after its launch at the end of September. The launchpad also served over 850,000 unique users and over 130 million requests on the launch day.
The platform also generated approximately $100,000 in network fees on the same day. Projects also took a liking to the platform’s Fair Curve model, significantly reducing the chances of price manipulation and rug pulls.
On the first day, GraFun accrued over 5,000 projects, showing the increased popularity of the new BNB Chain launchpad. Since the launchpad went live, GraFun has recorded over 12,000 token launches while garnering approximately $250,000 in platform fees (428 BNB).
The platform’s team explained that the launchpad’s mission was to provide long-term investment options and tangible growth. The team tweeted the essence of the Fair Curve and DAO in putting the community first.
The platform has support from the memecoin Floki Inu and DWF Labs. Floki Inu’s developer B reportedly revealed that Floki was the most dominant memecoin on the BNB Chain. B allegedly mentioned that the memecoin’s support for GraFun’s launch and the visible success indicated how much influence Floki has on the chain.
The developer explained his belief that memecoins would truly revolutionize crypto. B mentioned how retail finds memes more relatable than anything else.
“Floki has always strongly believed that memecoins will drive the true crypto revolution since retail more easily connects to memes than anything else, and we’re seeing that playing out recently with memecoins going more mainstream…”
–Floki Inu’s Developer B
GraFun incentivizes ethical behavior in projects
The memecoin launchpad has implemented ways to incentivize ethical behavior from projects that launch their tokens on the platform. GraFun rewards projects for are launching token sales, reaching their trading volume goals, token purchases, subscribing to GraFun’s social media websites, and more. The tasks shift between one-time tasks and recurring ones.
The platform provides rewards through the GraFun token (GRA) to help its users earn things like joining exclusive airdrops and tokens. Users can earn more from the platform by referring their friends. Whenever the referrals engage, the user gets 10% of the points accrued.
According to GraFun, incentivizing ethical behavior from projects is going to bring a new era to the BNB Chain projects. GraFun also believes that with the incentivization, projects can focus more on community building and other core features to build their tokens. The platform further mentioned that projects do not need to overly focus on the technical needs for launching memecoins.
So far, the BNB Chain memecoin launchpad has exceeded expectations within the first week of its launch. GraFun explained that its continued activity would change the BNB Chain trading landscape and establish the chain as a go-to memecoin launchpad.
Source: https://www.cryptopolitan.com/grafun-the-memecoin-launchpad-on-bnb-chain/