Highlights
- Floki will own 40% ownership of the GraFun meme coin launchpad.
- The launchpad will debut on the BNB Chain and is backed by the network.
- Floki’s ownership of GraFun is a bullish fundamental for the meme coin.
Floki and the BNB chain are set to debut the meme coin launchpad GraFun. The launchpad is similar to Solana’s Pumpfun and Tron’s Sunpump. Floki will receive 40% ownership of GraFun and enjoy the same percentage of fees generated on the platform. Meanwhile, the meme coin launchpad is also backed by DWF Labs, DeXe Protocol, and Hot Protocol.
Floki And BNB Chain Set To Luanch GraFun
The team announced in a blog post that they will support GraFun’s launch on the BNB chain. The launchpad will provide an easy way for anyone to create a meme coin on the Binance chain. The announcement noted that the trading platform will be similar to Solana’s PumpFun, adopting the bonding curve model.
Although GraFun has yet to launch on the Mainnet, Floki revealed that the launchpad is already gaining much attention. The platform has already whitelisted over 3.9 million users, and their wallets are already connected.
Over 305,000 users have already funded their wallets with over eight figures in funds thanks to GraFun in anticipation of the meme coin frenzy that is set to begin on the BNB Chain.
As the team highlighted, the platform’s launch comes just before Binance’s founder Changpeng “CZ” Zhao’s release from jail. CoinGape reported that CZ will be released from custody today, having completed his four-month sentence. CZ’s release is expected to spark a lot of frenzy in the crypto community and could lead to the creation of several meme coins inspired by it.
Floki also revealed that they will own 40% of GraFun and receive the same percentage of fees generated from the meme coin launchpad. According to the team, ownership of the platform will provide “key benefits” for $FLOKI and $TOKEN holders, although they added that the details will communicated later.
Major Boost For The Meme Coin’s Ecosystem
Considering how profitable these launchpads are, Floki’s ownership of GraFun could provide a major boost for the meme coin’s ecosystem. Dune analytics data shows Pumpfun has made 760,494 SOL ($114 million) in fees. Meanwhile, the platform is projected to generate $136.5 million in annual fees. Meanwhile, Sunpump, launched over a month ago, has also made $5.2 million in fees and could earn up to $51.8 million in yearly fees.
Therefore, this recent announcement is a bullish fundamental for the top meme coin. It is worth mentioning that Floki already owns the TokenFi launchpad. This tokenization platform allows developers to tokenize any real-world assets (RWAs) and easily create a token without the technicalities of coding.
At the time of writing, the FLOKI price is around $0.0001703, up over 16% in the last 24 hours. Trading volume is up 90%, with $416 million traded during this period.
CoinGape