Author: Scof, ChainCatcher
Editor: Nianqing, ChainCatcher
Does the current market feel familiar? This year’s full-chain launch of meme coins vs last year’s full-chain launch of inscriptions; everyone is into meme coins vs everyone is into inscriptions.
In the past few years, the act of "issuing tokens" has shifted from being elite-driven to becoming mainstream, and Pump.fun has undoubtedly been a catalyst for this transformation. It not only provides tools to simplify the token issuance process but also allows everyone to launch tokens at a very low cost, quickly pushing them to market under the influence of social narratives. Whether it’s a new blockchain project or an established chain seeking revival, it seems that they all tacitly accept this logic: to regain market attention, one must "pump" a bit and let users "have fun." Thus, from Solana to other emerging chains, the model of Pump.fun has almost become a lifeline, propelling hundreds of meme coins into existence.
Behind this "pump and fun" craze lies a certain dilemma and innovation in the current blockchain market: as project narratives are constantly reshaped, the underlying technical value is gradually replaced by "rapid liquidity and gamification." Regardless of the slogans these chains promote, the market phenomena we observe are remarkably consistent—if it can attract attention, even if it’s a brief prosperity, project teams will unhesitatingly embrace this model. However, in this endless token game, the fairness of the platform and user risks have also begun to represent two sides of the same coin. As shown by the high-yield and high-risk projects constantly emerging on Pump.fun, the simple and quick token issuance model is indeed attractive, but it also means an increase in market speculation.
In this context, different chains are trying to find their place in the market by imitating and transforming the Pump.fun model. Following Solana, major public chains like TRON, BSC, and Sui have launched Pump.fun clones. Recently, Yuga Labs launched the Layer2 public chain ApeChain, igniting a meme frenzy, with APE surging over 110% in a single day. Additionally, the Worldcoin mainnet launched by World Chian has become a hotbed for meme players, and dYdX is speculated by the crypto community to be launching a meme issuance platform.
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So, what characteristics do these chains present when introducing Pump.fun projects? Can they truly break through the barriers through this method? Next, we will review the recent "Pump.fun" projects across various chains.
Ape Express
As a platform launched by Yuga Labs, which has issued top-tier NFTs, Ape Express made a strong entrance, with the long-dormant token Ape surging 100%; however, reality soon proved that this choice may not align with public expectations: the meme leader CURTIS on ApeChain peaked at nearly $30M in market cap before abruptly stopping, currently down by half from its peak.
This inevitably raises suspicions: Is Ape Express merely a hasty decision by ApeChain to boost its popularity, or is it a new tool for the old money in the crypto space to cash out? Currently, Ape Express's official Twitter has only 9,182 followers, and after a day of revelry, what remains can only be described as "a mess."
Uptos
Uptos is a token issuance platform on the Aptos chain, continuing the interface style of Pump. However, from its Twitter data, it currently has only 914 followers, and the topic is not very high, indicating overall low enthusiasm. The core appeal of Uptos lies in its low transaction costs and the high-speed support of the Aptos blockchain.
Move Pump
Move Pump is a meme coin issuance platform aimed at the SUI and Aptos blockchains, focusing on simplifying the processes of creating, promoting, and trading memecoins. The highlight of Move Pump is its integration with BlueMove DEX, providing liquidity support for meme coins. Notably, BlueMove has added a Farms module in MovePump, encouraging users to add liquidity to tokens, with paper APYs mostly exceeding 10,000%, but sustainability is questionable.
Currently, the leading token aaa cat (AAA) on Move Pump has a market cap of only $7.65M, which is significantly lower compared to other meme issuance platforms. Its Telegram community has 2,915 members, and the sentiment is not very active.
Sun Pump
Sun Pump is a meme coin issuance and trading platform running on the TRON chain. Due to the launch of "to the moon" memes like SUNDOG and BULL in August and September this year, it has garnered considerable attention, with nearly 300,000 Twitter followers.
However, despite some projects like SUNDOG achieving initial success, the platform's overall performance still lags behind other chains (such as Ethereum and Solana). This is mainly due to the lack of developer participation and market liquidity on TRON, resulting in most projects failing to gain significant market recognition or support from major exchanges. Moreover, Sun Pump's rise is largely attributed to the strong marketing capabilities of TRON founder Justin Sun. To expand its market influence, Sun Pump has partnered with BitMart exchange.
Four.Meme
Four.Meme is a token issuance platform on the BSC chain. Creating a memecoin on Four.Meme takes only a few minutes, with the main process involving filling out token information, paying about 0.005 BNB in deployment fees, and launching the project directly. Through its acceleration program, projects can gain additional exposure, community support, and even joint promotion with BNB Chain upon reaching certain market caps and trading volumes.
Currently, Four.Meme's official Twitter has over 100,000 followers, and its leading token BIC has a market cap of only $5.54M, with the token price at just 30% of its historical peak.
Ethervista
Ethervista launched on August 31 as a meme launch platform on the Ethereum chain. Compared to similar platforms on other chains (like Pump.fun), Ethervista's features include innovative security measures and economic incentive mechanisms.
- Liquidity Locking: All new token projects are required to lock their liquidity for 5 days. This rule aims to reduce the risk of "rug pulls" (where project teams quickly withdraw funds) in the early stages, protecting users and investors' interests.
- ETH Billing Structure: The platform does not charge tokens as fees but settles directly in ETH, distributing to liquidity providers and token creators. This mechanism reduces the selling pressure of tokens within the platform while enhancing the price support of projects.
- Rewards and Value Growth: Ethervista's native token $VISTA has deflationary characteristics, with each transaction triggering automatic token burns. As supply decreases, the token price gradually appreciates. Additionally, a portion of the transaction fees is converted into locked liquidity, further solidifying the price floor.
Currently, Ethervista's leading token is VISTA, with a market cap of $6.67M, having dropped 80% from its peak. Its Twitter followers exceed 30,000, and enthusiasm has significantly decreased since the platform's launch.
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