Quick Overview of Alliance DAO's New Incubation Project Moonshot: A Self-Custody Crypto Wallet for MEME Trading, Enabling Fiat Payments

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4 hours ago

Author: Nancy, PANews

With a low entry barrier and gamified operating experience, the popular brokerage Robinhood once became the hub for retail investors to hype meme stocks. Recently, as the MEME narrative continues to thrive, the crypto application Moonshot, which promotes the slogan "Easily Buy and Sell MEME," has gained popularity both domestically and internationally, being regarded as the MEME version of Robinhood, potentially further igniting the MEME gold rush sentiment.

Moonshot is incubated by the well-known crypto accelerator Alliance DAO, which has successfully incubated crypto projects such as Pump.fun, Fantasy.top, and Time.fun.

Overview of Alliance DAO's new project Moonshot: A self-custodial crypto wallet for MEME trading, enabling fiat payments

According to official information, Moonshot is a self-custodial crypto wallet for discovering, buying, and selling MEME coins. Users can register to trade MEME coins using only their email and FaceID, without needing to understand obscure blockchain concepts like seed phrases. Moonshot also allows users to send tokens to friends using usernames instead of wallet addresses.

From the perspective of Moonshot, the application is mainly divided into three sections: Home, Rewards, and Holdings. The Home section displays the tokens with the highest gains and popular rankings, along with a search function. The token detail page includes not only price trends and user holdings but also detailed information such as market cap, trading volume, number of holders, and creation time.

Overview of Alliance DAO's new project Moonshot: A self-custodial crypto wallet for MEME trading, enabling fiat payments

The Rewards page shows friend invitation rewards (currently only available to iOS users). Users can earn 50% of all trading fees from each successfully referred friend, while the referred friend can receive MEME coins worth $100 from a third-party sponsor's MEME reward pool as a reward.

The Holdings section displays the user's held assets and the entry points for fund deposits and withdrawals. It is worth mentioning that unlike trading MEME coins on DEXs and CEXs, which require account creation, KYC verification, and withdrawal processes, Moonshot allows users to recharge and withdraw funds through cryptocurrencies (currently only supporting SOL and USDC on Solana) and directly enables fiat deposit/withdrawal channels, supporting Apple Pay, credit/debit cards, and PayPal. This application is also the first on the App Store to allow users to easily trade MEME using Apple Pay (now available in over 130 countries' App Stores). This significantly lowers the trading threshold for non-crypto users, facilitating the influx of outside capital.

Overview of Alliance DAO's new project Moonshot: A self-custodial crypto wallet for MEME trading, enabling fiat payments

From the user threshold and experience of Moonshot, it shares similarities with Robinhood, which initially opened the market quickly through a simple account opening process, zero-commission model, and straightforward trading interface strategy.

Regarding project selection, although Moonshot has not disclosed specific listing standards, it requires that MEME tokens typically have a trading volume of about $1 million within 24 hours to be considered for the whitelist. Project parties can submit relevant materials for application (including project name, code, contract address, and creation time). Currently, Moonshot supports popular MEME coins such as WIF, POPCAT, GOAT, SPX, and MOODENG.

Additionally, Moonshot's trading fees vary based on order type and selected payment method, primarily consisting of transaction fees and network fees. For transaction sizes below $250, Moonshot charges a fee of 2.5% (minimum $0.30), while transactions over $250 incur a 1% fee. For payment methods, using PayPal incurs a fee of 4.5% for purchases and 3.4% for withdrawals. Many users believe these fees are too high, especially for large capital participants who face significant wear and tear before assuming the uncertain risks of MEME coins.

Overall, Moonshot's expansion of fiat channels and friendly trading experience may introduce more liquidity to the MEME market, and its scale is more susceptible to the sentiments of the MEME market.

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