Memecoin Launchpad GraFun Expands to Ethereum to Clinch New Users

Election 2024 coverage presented by
BNB Chain-based memecoin issuance platform GraFun is expanding to the Ethereum network on Wednesday, the project’s developers shared with CoinDesk.
GraFun uniquely offers a “Fair Curve” model that developers say minimizes rug-pull risks, reduces price manipulation and ensures fairer token issuances that result in fewer users losing money. Memecoin behemoth Floki owns over 40% of GraFun, and other backers include DWF Labs.
“In just 1.5 months since the platform debuted, it saw already 13.6K plus memecoins launch with an overall volume of $430 million,” GraFun told CoinDesk in a Telegram message. “Even when only operating on one chain, it became the top-performing memecoin launchpad on any EVM-compatible chain.”
Expanding to Ethereum will help GraFun capture newer audiences, tap into higher liquidity for meme issuances and increase the platform’s visibility among crypto traders.
The most popular examples of memecoin launchpads that use a “Fair Curve” model kind of model are Pump on Solana – which pioneered such a model – and Tron’s Sun Pump.
Pump.fun has earned over $150 million in fees in the last six months alone and is currently projected to generate $400 million in annual fees. SunPump has earned $5.4 million in fees since launching in August.
Edited by Parikshit Mishra.
Disclosure
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.
Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.