Is the Meme Launch Platform the Infrastructure of Public Chains? A Review of Various Chains' "Pump.fun" Imitations

Author: Scof, ChainCatcher

Editor: Nianqing, ChainCatcher

Does the current market feel familiar? This year's full-chain launch of "土狗" (Tudou) vs last year's full-chain launch of "铭文" (Mingwen); everyone is playing "土狗" vs everyone is playing "铭文".

In the past few years, the act of "issuing tokens" has transitioned from being elite-driven to becoming mainstream, and Pump.fun has undoubtedly been a catalyst for this transformation. It not only provides tools to simplify the token issuance process but also allows everyone to launch tokens at a very low cost, quickly pushing them to market under the influence of social narratives. Whether it's a new blockchain project or an old chain seeking revival, it seems that everyone has tacitly accepted this logic: to regain market attention, one must "pump" and let users "fun". Thus, from Solana to other emerging chains, the model of Pump.fun has almost become a lifeline, propelling hundreds of Meme coins into existence.

Behind this "pump and fun" craze lies a certain dilemma and innovation in the current blockchain market: as project narratives are constantly being reshaped, the underlying technical value is gradually being replaced by "rapid liquidity and gamification." Regardless of the slogans these chains promote, the market phenomena we observe are remarkably consistent— as long as it can attract attention, even if it's a brief prosperity, project teams will unhesitatingly embrace this model. However, in this endless token game, the fairness of platforms and user risks have also begun to represent two sides of the same coin. As evidenced by the high-yield and high-risk projects constantly emerging on Pump.fun, the simple and fast token issuance model is indeed attractive, but it also signifies an escalation of market speculation.

In this context, different chains are attempting to find their place in the market by imitating and transforming the Pump.fun model. Following Solana, major public chains like TRON, BSC, and Sui have launched Pump.fun clones. Recently, Yuga Labs launched the Layer2 public chain ApeChain, igniting a meme frenzy, with APE surging over 110% in a single day. Additionally, the Worldcoin launched World Chain mainnet has become a hotbed for meme players, and dYdX is speculated by crypto community users to be launching a meme launch platform.

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So, what characteristics do these chains exhibit when introducing Pump.fun projects? Can they truly break through the encirclement through this method? Next, we will review the recent "Pump.fun" projects across various chains.

Ape Express

As a platform launched by Yuga Labs, which has issued top-tier NFTs, Ape Express made a strong entrance, with the long-dormant token Ape surging 100%; however, reality soon proved that this choice may not align with public expectations: the meme leader CURTIS on ApeChain peaked at nearly 30M in market cap before abruptly stopping, currently down by half from its high.

This inevitably raises suspicions: Is Ape Express merely a hasty decision by ApeChain to boost its popularity, or is it a new tool for the old money in the crypto circle to cash out? Currently, Ape Express's official Twitter has only 9,182 followers, and after a day of revelry, what remains can only be described as "a mess."

Uptos

Uptos is a token issuance platform on the Aptos chain, continuing the interface style of Pump. However, from its Twitter data, it currently has only 914 followers, and the topic isn't very high, indicating overall low enthusiasm. The core attraction of Uptos lies in its low transaction costs and the high-speed support of the Aptos blockchain.

Move Pump

Move Pump is a meme coin issuance platform aimed at the SUI and Aptos blockchains, focusing on simplifying the processes of creating, promoting, and trading memecoins for users. The highlight of Move Pump is its integration with BlueMove DEX, providing liquidity support for meme coins. Notably, BlueMove has added a Farms module in MovePump, encouraging users to add liquidity to tokens, with paper APYs mostly exceeding 10,000%, though sustainability is questionable.

Currently, the leading token on Move Pump, aaa cat (AAA), has a market cap of only $7.65M, which is significantly lower than other meme issuance platforms. Its Telegram community has 2,915 members, and the sentiment is not very active.

Sun Pump

Sun Pump is a meme coin issuance and trading platform running on the TRON chain. Due to the launch of "to the moon" memes like SUNDOG and BULL in August and September this year, its popularity is quite considerable, with nearly 300,000 Twitter followers.

However, despite some projects like SUNDOG achieving initial success, the overall performance of the platform still lags behind other chains (such as Ethereum and Solana). This is mainly due to the lack of developer participation and market liquidity on TRON, resulting in most projects failing to gain significant market recognition or support from major exchanges. Moreover, Sun Pump's rise is largely attributed to the strong marketing capabilities of TRON founder Justin Sun. To expand its market influence, Sun Pump has partnered with BitMart exchange.

Four.Meme

Four.Meme is a token issuance platform on the BSC chain. Creating a memecoin on Four.Meme takes only a few minutes, with the main process involving filling out token information, paying about 0.005 BNB in deployment fees, and launching the project directly. Through its acceleration program, projects can gain additional exposure, community support, and even joint promotion with BNB Chain upon reaching certain market caps and trading volumes.

Currently, Four.Meme's official Twitter has over 100,000 followers, and its leading token BIC has a market cap of only $5.54M, with the token price at just 30% of its historical high.

Ethervista

Ethervista launched on August 31 as a meme launch platform on the Ethereum chain. Compared to similar platforms on other chains (like Pump.fun), Ethervista's features include innovative security measures and economic incentive mechanisms.

• Liquidity Locking: All new token projects must have their liquidity locked for 5 days. This rule aims to reduce the risk of "rug pulls" (where project teams quickly withdraw funds) in the early stages, protecting the interests of users and investors.
• ETH Billing Structure: The platform does not charge tokens as fees but settles directly in ETH, distributing to liquidity providers and token creators. This mechanism reduces selling pressure on tokens within the platform while enhancing price support for projects.
• Rewards and Value Growth: Ethervista's native token $VISTA has deflationary characteristics, with each transaction triggering automatic token burns. As supply decreases, the token price gradually appreciates. Additionally, a portion of transaction fees is converted into locked liquidity, further solidifying the price floor.

Currently, Ethervista's leading token is VISTA, with a market cap of $6.67M, having dropped 80% from its peak. Its Twitter followers exceed 30,000, and enthusiasm has significantly decreased since the platform's launch.