- In an attempt to compete with Pump.fun, Dexscreener launched its own token launch platform.
- Memecoins of all kinds, including political tokens, are already overflowing the market.
On June 24, the cryptocurrency data website Dexscreener introduced a rival to Pump.fun, and memecoins have since swamped the site.
Through the Moonshot platform, users can launch their own coins on Solana. In the end, it’s the identical model to Pump.pleasant yet with a somewhat different user experience and some audacious claims.
Similar to Pump.fun, users can mint their own coin for approximately 0.02 SOL after first linking a wallet. The user can start the token after adding a name, symbol, and image. They can include some links to social media as well. After launch, 150–200 million tokens are destroyed and the tokens and liquidity are moved to the decentralized exchange Raydium if the token’s market valuation hits 500 SOL, or roughly $68,000.
Not unexpectedly, Moonshot has already been used to create an enormous number of memecoins, from political tokens to ones based on recently viral videos.
The platform says it has been audited, but it doesn’t say anything more. It further asserts that there are no insiders or pre-sales and that tokens cannot be hacked. Having said that, the creator of the token has first choice over purchasing it and can sell it whenever they choose.
Not surprisingly, because Pump.fun has developed a loyal user base in the Solana community, other projects are attempting to compete with it. The site has already generated over $40 million in revenue since March.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
