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By Shaurya Malwa|Edited by Omkar Godbole
Updated Dec 4, 2024, 12:07 p.m. UTCPublished Dec 4, 2024, 12:00 p.m. UTC
What to know:
- Memecoin issuance platform GraFun is expanding today to the TON Network, the third blockchain after Ethereum and BNB Chain.
- A source close to the team shared plans for a GraFun token in the future based on user activity in a message to CoinDesk.
Memecoin issuance platform GraFun is expanding today to the TON Network, the third blockchain after Ethereum and BNB Chain, in a bid to capture newer audiences.
Expanding to TON could help GraFun capture newer audiences, tap into higher liquidity for meme issuances and increase the platform’s visibility among crypto traders.
Story continues below
“Creating and trading memecoins directly inside Telegram, one of the most popular messaging apps in the world, is almost here,” a GraFun developer told CoinDesk over Telegram message. “After launching 14k memecoins and generating more than $450M in trading volume on BNB Chain, GraFun is now making memecoin creation simple and fast inside Telegram.”
TON holds over $350 million worth of user assets across various platforms based on the blockchain, data shows.
A source close to the team shared plans for a GraFun token in the future based on user activity in a message to CoinDesk, although GraFun developers neither confirmed nor denied plans.
GraFun uniquely offers a “Fair Curve” model that developers say minimizes rug-pull risks, reduces price manipulation and ensures fairer token issuances that result in fewer users losing money. Memecoin behemoth Floki owns over 40% of GraFun, and other backers include DWF Labs.
The most popular examples of memecoin launchpads that use a “Fair Curve” model are Pump on Solana – which pioneered such a model – and Tron’s Sun Pump.
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.
Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM,
BANANA, ROME, BURGER, SPIRIT, and ORCA.
He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.
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