- BNB Chain has launched its memecoin launch platform GraFun.
- The platform generated strong traction, as did Pumpfun and Sunpump.
Memo coins have dominated this market cycle and more and more chains have positioned themselves to capitalize on the growing speculative interest.
In late September, BNB Chain joined the party with its memecoin launch pad GraFun. It debuted before Binance’s former CEO CZ was released from prison.
Andrei Grachev, head of DWF Labs, noted that the launch pad earned $100,000 in fees and launched 5.8 thousand meme coins on the first day.
“Happy to support @grafunmeme, it brought ~250M$ DTV and ~5.8k new memes to @BNBCHAIN, and earned $100k in fees in 1 day!”
GraFun launchpad overview
The Floki team, which also supports the launch pad, noted that the platform will be similar to, but better than Solana’s Pumpfun.
Additionally, the team will own 40% of GraFun, including revenue generated. DWL Labs is also listed as a strategic partner, but its ownership was not disclosed at time of going to press.
Other GraFun partners include BNB Chain, DeXe Protocol and HOT Protocol. The meme coin launchpad will compete with Tron’s Sunpump and Solana’s Pumpfun, which have generated millions in revenue within months of use.
But the platforms always make money even if a meme coin is not launched after the demand and liquidity threshold is not met.
According to the Floki team, GraFun is a fair and different platform. It noted:
“GraFun focuses on ensuring a fair launch model that only allows memecoins that users want to list on DEXs.”
Source: GraFun
As of October 1, the platform had launched more than 9,000 meme coins, featuring Baby BNB[BABY] is the most notable with a market capitalization of over $80 million.
Before it debuted, the platform had 3.9 million whitelisted users and now has 4.3 million subscribers on its Telegram channel, underscoring its strong traction.
However, at the time of writing, traction had yet to trickle down to Floki[FLOKI] or BNB prices. Their prices fell amid a general sell-off linked to geopolitical tensions.