- BNB Chain has introduced its memecoin launchpad called GraFun.
- The platform has gained considerable momentum, similar to Pumpfun and Sunpump.
Memecoins have taken the spotlight this market cycle, with more chains gearing up to capitalize on increasing speculative interest.
At the close of September, BNB Chain joined the fray with the launch of its memecoin platform GraFun, which made its debut shortly before Binance’s former CEO CZ was released from incarceration.
Andrei Grachev, the head of DWF Labs, highlighted that the launchpad collected $100k in fees and saw the launch of 5.8k meme coins on its first day.
“Excited to back @grafunmeme, it brought in ~250m$ DTV and ~5.8k new memes to @BNBCHAIN, generating 100k$ in fees in just one day!”
Overview of the GraFun Launchpad
The Floki team, which is also backing the launchpad, shared that the platform will be similar to but an improved version of Solana’s Pumpfun.
Furthermore, the team will retain 40% ownership of GraFun, including its generated revenue. DWL Labs is also noted as a strategic partner, although its stake was not revealed at the time of writing.
Other partners of GraFun include BNB Chain, DeXe protocol, and HOT protocol. The meme coin launchpad will contend with Tron’s Sunpump and Solana’s Pumpfun, both of which have generated millions in revenue within mere months of operation.
However, these platforms consistently earn money even if a meme coin fails to launch due to insufficient demand and liquidity.
According to the Floki team, GraFun is a fair and distinctive platform. They mentioned,
“GraFun prioritizes a fair launch model, allowing only those memecoins that users desire to be listed on DEXs.”
Source: GraFun
By October 1st, the platform had introduced over 9k meme coins, with Baby BNB[BABY] emerging as the most significant, boasting a market cap of over $80 million.
Prior to its launch, the platform had gathered 3.9 million whitelisted users and currently has 4.3 million subscribers on its Telegram channel, demonstrating robust interest.
Nevertheless, at the time of writing, this growing interest had not yet translated to an uptick in the prices of Floki[FLOKI] or BNB, both of which saw declines amid a broader market sell-off driven by geopolitical tensions.
