When one-click token issuance platforms become "ecological-level weapons," meme coins have become the answer to the version

Author: Wenser, Odaily Planet Daily

Undoubtedly, Meme has become the "version answer" of this cycle.

In previous articles, we introduced several one-click token issuance platforms. However, at that time, various platforms were more inclined towards application projects rather than "ecosystem platforms"—this is also one of the important reasons why many projects gradually faded into obscurity. Without ecosystem-level support and a continuous wealth creation effect, it is difficult for liquidity to accumulate over a long period. The launch of the ApeChain mainnet and the subsequent explosion of its one-click token issuance platform, Ape Express, which gradually fell silent 24 hours later, is the best example of this viewpoint.

Odaily Planet Daily will briefly summarize the development status of various one-click token issuance platforms in different ecosystems over the past few months for readers' reference.

Solana Ecosystem pump.fun: The Pioneer of the Current Meme Coin Craze

As we enter 2024, the official approval of Bitcoin spot ETFs has further deepened the coupling between the cryptocurrency industry and traditional finance. The "high FDV, low circulating market cap" VC has gradually been abandoned by the market after experiencing a frenzy of token issuance in the first half of the year. In its place, Meme coins, which focus on "fair launches and high odds," have become popular investment targets pursued by countless people.

Although the overall risk of Meme coins is extremely high, in the face of repeated wealth miracles, no one wants to sit idly by as opportunities slip away. The emergence of pump.fun has provided a major "on-chain casino" that combines liquidity and attention for "on-chain gamblers" and "PVP players." It is no wonder that the phrase promoting the Meme coin craze has spread widely and has become a true reflection of this cycle—"Value investment is a waste, go all in on meme to live in the palace."

On October 23, pump.fun officially announced support for issuing tokens via video, allowing users to upload videos and create tokens, and permitting other users to access them on the main page. Thus, this one-click token issuance platform, which began to emerge in March, finally took on some of the characteristics of the Web2 social media king TikTok—multimedia content, low token issuance thresholds, high odds projects, and so on, have collectively brought unprecedented high activity to on-chain transactions in the Solana ecosystem.

Basic Data of pump.fun

As of October 23, according to Dune data, the operational data related to the pump.fun platform is as follows:

• A total of 2,623,866 token issuance projects;
• Protocol revenue reached 985,654 SOL;
• On August 12, its daily protocol revenue peaked at 35,076 SOL;
• On October 18, the total number of on-chain transaction operations in the Solana ecosystem DEX was 21,491,000, of which pump.fun-related operations accounted for 13,604,000, approximately 63.3%.

Latest news indicates that daily transaction fees on the Solana blockchain have risen to their highest level since early May 2024. In the past 24 hours, transaction fees on the Solana chain surged to $3.85 million, significantly higher than the average over the past six months.

According to data from DefiLlama, as of October 23, the total revenue of the pump.fun protocol reached $136 million. Additionally, it is reported that the number of active addresses on pump.fun has recently increased to 85,000, of which 37,000 are new wallets, indicating strong user demand for Meme participation. Furthermore, the airdrop plan revealed by the founder of pump.fun has sparked a new wave of "interaction enthusiasm" in the market. Whether it can bring users a new wave of "big profits" remains to be seen.

Peak Data of pump.fun

Base Ecosystem: No Successful One-Click Token Issuance Platform Yet

Unlike the standout performance of pump.fun in the Solana ecosystem, after the Base ecosystem took over the Meme craze from Solana in March this year, a series of Meme coin projects that triggered FOMO emotions, including DEGEN, MFERCOIN, BRETT, TOSHI, and BYTG, emerged. However, perhaps due to the Base ecosystem's official restraint on speculative projects or the difficulty of Base ecosystem Meme coins to develop independently from Ethereum ecosystem Meme projects, there has yet to be a successful and stable one-click token issuance platform.

Previously, the Meme coin project MIGGLES, which Coinbase officially supported, also experienced a surge in market value (with a single token price exceeding $0.1 and a market cap exceeding $100 million) around July 20, only to disappear in the vast sea of Meme coins.

It must be said that for Meme coin projects, being able to remain active for three months is already an extremely rare event. For leading platforms like pump.fun, statistics show that this month, the platform launched a total of 248,400 tokens, with only 3,255 tokens listed on the Solana ecosystem DEX Raydium, of which only 2 tokens have a market cap exceeding $100 million, highlighting the harsh reality of survival of the fittest in the Meme coin field.

TRON Ecosystem SunPump: Leveraging Meme Coins to Drive New Ecosystem Growth

In contrast to the "全民 Meme" atmosphere of the Solana ecosystem, the newcomer SunPump has successfully carved out a place in the previous ecological development landscape of the TRON ecosystem with a "high-profile" strategy and a "fast-paced" approach.

At the beginning of SunPump's launch, we provided a detailed introduction in a previous article titled "The TRON Meme Revolution is in Full Swing: SunPump Leads the Craze, Raising the Banner of Momentum," where we mentioned that SunPump is an attempt at a "new growth point" in the TRON ecosystem based on the continued development of stablecoins. Subsequently, the emergence of several popular Meme coin projects such as SUNDOG and SUNWUKONG has significantly contributed to the protocol revenue, network activity, and overall development of the TRON ecosystem.

As of October 23, according to Dune data, the specific operational data of the SunPump platform is as follows:

• A total of 90,873 token issuance projects;
• Cumulative protocol revenue reached 34,972,493 TRX;
• On August 21, its daily token issuance peaked at 7,531.

According to data from DefiLlama, the total revenue of the SunPump protocol is $5.38 million. The latest news indicates that SunPump is continuously advancing various collaborations in trading, such as establishing ecological partnerships with the globally leading quantitative trading robot crypto trading platform Pionex.com, and the official launch of the SunPump Telegram Bot inviting rebate features.

Overview of SunPump Platform Data

Sui Ecosystem Turbos: Dual Approach of Token Platforms to Boost SUI Ecosystem

Since entering Q2 and Q3 of this year, the development of the Sui ecosystem cannot be underestimated. In addition to the price increase of the SUI token itself and the development of the DeFi ecosystem, the Meme coin craze in the Sui ecosystem has also brought considerable attention, liquidity, and engagement, with the Sui ecosystem DEX Turbos playing a particularly important role.

On October 16, according to official data, the DEEP token's 24-hour trading volume on Turbos CLMM DEX approached $1 million, with liquidity supporting the trading volume at approximately a 1:15 ratio. Meanwhile, the DEEP/SUI liquidity annualized yield exceeded 2000%, allowing liquidity providers to earn high trading fee revenues through LP.

As one of the projects previously announced for funding 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 from the official website, its daily trading volume surpassed $39 million on October 9, setting a historical high; on October 14, its TVL exceeded $30 million, total account numbers surpassed 400,000, and cumulative 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) recorded a single-day increase of 15.7% on October 12.

In addition, Turbos Finance launched the LP locking feature on October 19, allowing LPs to permanently lock full-range liquidity while continuing to earn trading fees and incentives, providing a new solution and path for the stable operation and development of Meme coin projects in the Sui ecosystem—this can, to some extent, provide returns for both Meme coin project parties and LPs while effectively reducing the risk of Meme coin project rug pulls.

The latest data shows that Turbos Finance's cumulative trading volume is approaching $3 billion, with total account numbers exceeding 538,600.

Turbos Finance Platform Data

Conclusion: When Meme Coins Become the Version Answer, One-Click Token Issuance Transforms from Platform to Ecosystem Infrastructure

If a few months ago, more people viewed Meme coins from a "project level," then their competitors and comparative objects could only be VC coins; after the business model of pump.fun has been successfully validated over the past few months, one-click token issuance platforms have upgraded from the "project level" to the "ecosystem-level weapon" level. In other words, wherever the hotspot of Meme coins is, market attention and capital liquidity will follow.

The rapid decline of the craze surrounding ApeChain and Ape Express can be attributed not only to the limited official support but also primarily to the fact that the market value of leading Meme coins like CURTIS on the Ape Express platform has not broken through certain milestone numbers in a short time. Additionally, the ecosystem applications are too barren to continuously attract user retention and liquidity.

However, in the future, as the mainstreaming process of the cryptocurrency industry continues to accelerate, Meme coins will continue to play the role of "version answer." Established Meme coins and new Meme coin kings will alternate, making one-click token issuance platforms an indispensable part of the infrastructure construction of every ecosystem. With the addition of AI as a significant variable in the "crypto battlefield," perhaps "AIxMeme" one-click token issuance platforms are already on their way.