GraFun, a newly launched memecoin-focused platform on the BNB Chain, has made waves in the cryptocurrency community, generating over $250 million in trading volume within the first 24 hours of its release.
Floki’s Support of GraFun
According to a developer associated with Floki, which is backing GraFun, this milestone was achieved largely through the automated deployment of tokens on PancakeSwap, a decentralized exchange. GraFun was officially launched on Friday and recorded the creation of over 5,800 tokens on its first day. These token launches brought in approximately $100,000 in fees for the BNB Chain. One standout project originating from the GraFun platform, BabyBNB, managed to reach a peak market capitalization of $132 million just a day after its issuance. BabyBNB has since secured listings on centralized exchanges, including MEXC and Gate.
BNB Chain’s Role in the Memecoin Ecosystem
The Floki ecosystem is closely tied to GraFun, as Floki owns more than 40% of the platform and has been actively supporting its development. According to a message from a developer behind Floki, the team sees GraFun as a potential disruptor in the memecoin landscape, particularly on the BNB Chain. The developer highlighted GraFun’s innovative 'Fair Curve' model, which is designed to minimize rug-pull risks, reduce price manipulation, and ensure a more equitable distribution of tokens. This model aims to protect users from common pitfalls in the crypto space, such as sudden liquidity drains and manipulated price movements. Floki’s team believes that memecoins will play a pivotal role in the broader adoption of cryptocurrencies.
Future Uses of Floki and GraFun
Memecoins, often driven by community and pop culture, resonate more deeply with retail investors compared to other crypto use cases. This has been evidenced by the increasing mainstream appeal of these tokens. The developer also pointed out that the BNB Chain’s strengths—its speed, low transaction costs, and scalability—make it an ideal hub for memecoin activity. These factors have contributed to the explosive growth of projects like BabyBNB and are expected to support future memecoin launches on GraFun. Following the news of GraFun’s launch and Floki’s involvement, the price of the FLOKI token rose by 6%, though it later saw a slight decline of 1.6% over the subsequent 24 hours.
The launch of the GraFun platform has already demonstrated its potential to achieve significant trading volumes and success for projects based on BNB Chain. Future memecoins are likely to benefit from this trend.
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