Howdy!
There have been accusations that my intros are too “sports bro”-ey, but losers and haters need to know I can do a lot more than that.
Yesterday night I saw Pride and Prejudice. Tom Wambsgans’s portrayal of a stolid British gentleman was hilarious, and I thought Mr. Collins was the star. I laughed out loud at his dinner party scene.
Overall, it’s an 8. Anyways:
DEX Screener’s ‘Moonshot’ vertically integrates memecoin trading
Moonshot’s launchpad, DEX Screener – the new platform for memecoins – is a DEX Screener product.
The token I created (which, although clever, was also funny) attracted $250 in investment within minutes of its launch. After a few minutes, I grabbed a dollar-worth of tokens to see if it was the DogWifHat. I was left holding the bag when the buyer sold his tokens at a small profit.
You will see this very often if you browse through all the Moonshot tokens.
This platform has a similar theme to Pump.fun – the current leader in memecoin creation. Launch a Solana token cheaply and then try to attract enough investors to move the token onto the DEX Raydium based on Solana.
Pump.fun founder Alon posted the Soulja Boy video not so subtlety shortly after launch. “he copied my whole flow!” Clip on X.
Moonshot has one advantage over competitors, however: it offers the possibility to vertically incorporate memecoin trades. Pump.fun offers poor data, which is why many traders use DEX Screener’s metrics. DEX Screener has a better mobile interface and an easier-to-use app than Pump.
It’s similar to Instagram’s copy of Snapchat’s stories in that an established team is trying to snare users by copying a brand-new feature.
Blockworks Research analyst Ryan Connor explains that memecoin is becoming a recognized retail business. He compared it to DraftKings’ sports betting and Robinhood’s 0DTE option trading. This suggests that Moonshot may become part of a bigger trend.
“Everyone wants to be a platform, so we should expect attempts to bundle token launches, trading UIs and social [media] into a single application experience. Unlonely, Pump.fun, and now Dexscreener/Moonshot are all extensions of this trend,” Connor spoke.
Pump.fun could prove lucrative if it is a place where people congregate. Pump’s revenue comes from the trading fee and angels share it gets before tokens are transferred to Raydium. DEX Screener was not available for comment, but Moonshot is likely to have a similar business model.
Moonshot is a much better UX that Pump.fun. However, the chat and livestream functions are missing, two things which Pump users enjoy. Moonshot does not seem to make much effort in being a social media platform, as far I’m concerned.
There are other warts to deal with too: Memecoin trading seems to be somewhat on the wane — the number of new Pump tokens created has declined for the past two weeks, according to a Dune dashboard. Moonshot odds are also a little bit long. There are multiple tokens launching on the platform every minute, but around 60 of them have enough volume for Raydium. It may be hard to retain users if every token is a pump-and-dump, as I felt.
The competition will only grow.
Meme Royale is a new launchpad for memecoins that will soon be available in the market. “raid” The mechanism allows memecoins to compete for liquidity. This is a way of reducing the dormant cash held in memecoins. Meme Royale’s spokesperson said that they plan to launch the platform in about two weeks.
“[J]ust like Reed Hastings says that Netflix’s main competitor is sleep, the main competitor to the 22k coins launched every day is all of the ones that go to 0,” The spokesperson stated.
What if the memecoin platform goes beyond the rudimentary? “trending” feeds to letting users discover tokens via more complex algorithms — something a la TikTok’s ‘For You’ page for memecoins.
Zero in
Solana Tokens move less now than they did a month earlier:
Step Finance has a chart that shows SPL token transfers from roughly 2024 onwards. The tokens were created using the native Solana token standard.
The daily Solana token transfer numbers reached 50 millions in late May or early June. In the last two weeks, this number has dropped to less than 30 million. Early April, both the price of SOL tokens and Solana’s token transfers plummeted. The rally continued shortly thereafter.
Will SOL trading, token transfers and memecoin have enough legs to get us out of our rut? These new blinks might help.
The Pulse
Launch of Solana blinks or Blockchain Links has sparked a great deal of interest and debate on social media.
AdityaShetts posted a detailed thread describing his interaction with blinks. He pointed out that users could now trade memecoins via Meteora directly with Tensor blinks and collect NFTs. They can also vote directly on Helium governance from Twitter.
When @N0ty0ur0pinion raised concerns over the security of wallets against malicious blinks and followers such as @CryptoSteven88 or @solanasteve_, they were amazed by how seamlessly this technology integrated.
Solana Labs Advisor @jordaaash discussed the potential for Blinks to transform digital interactions, with a focus on innovative transaction integration. The Web3 UX was a collaborative effort, and he praised the efforts made by development teams to push it forward.
Solana leaders such as @jnwng, @rajgokal and others encouraged developers by urging them to test this new technology. These figures predicted it would transform user engagement in social media. Wong acknowledged Dialect’s contributions and expressed his optimism regarding Blinks.
One Good DM
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