GraFun Introduces Memecoin Amidst Competition with Solana’s Pumpfun
In the current market cycle, memecoins have become a predominant force, attracting significant speculative interest across various chains. Recently, BNB Chain made its mark in this space by unveiling GraFun, a memecoin launchpad, just as the release of Binance’s former CEO CZ from jail was anticipated.
Andrei Grachev, the head of DWF Labs, highlighted that GraFun raked in $100K in fees on its first day and introduced 5.8K meme coins to the market. The launchpad’s rapid success drew praise from supporters, with one mentioning the substantial value and income it brought to BNB Chain.
An Insight into GraFun’s Launchpad
Aided by the Floki team, GraFun’s launchpad is positioned to rival but surpass Solana’s Pumpfun. Notably, the team will hold a 40% stake in GraFun, inclusive of its generated earnings. While DWL Labs is listed as a strategic partner, details regarding its ownership remain undisclosed.
Collaborating with key players like BNB Chain, DeXe protocol, and HOT protocol, GraFun aims to compete with industry giants such as Tron’s Sunpump and Solana’s Pumpfun, the latter of which has amassed significant revenue within a short operational period.
Despite revenue generation, these platforms leverage their structure to ensure profitability even if a meme coin fails to meet market demand and liquidity thresholds. GraFun, on the other hand, adopts a unique approach, as articulated by the Floki team, focusing on fostering a fair launch model that only lists memecoins preferred by users on DEXs.
By October 1st, GraFun had rolled out more than 9K meme coins, with Baby BNB [BABY] gaining particular attention with an impressive market cap exceeding $80 million. The platform’s growth is evident in its expanding user base, which surged from 3.9 million pre-launch to 4.3 million subscribers on its Telegram channel, underscoring substantial traction.
However, despite promising developments, the upward momentum is yet to translate into price gains for Floki [FLOKI] and BNB, as geopolitical tensions contribute to a broader market sell-off.