GraFun, a next-generation meme coin launchpad on BNB Chain, is launching officially after achieving a significant feat of amassing 3.8 million on-chain registrations, per the latest information shared with Finbold on September 27.
The pre-registration was made all the more successful by the fact that more than 300,000 users funded their wallets in anticipation of the launch.
GraFun is built to address some of the long-standing issues plaguing meme coin launches: an unfair advantage for the earliest adopters and the accompanying prevalence of ‘pump-and-dump’ schemes.
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Furthermore, the launchpad is backed by some of the most recognizable names in Web3.
These include the popular meme coin Floki (FLOKI), DWF Labs, a major liquidity partner, DeXe, one of the top dApps on the BNB chain by total value locked (TVL), and HOT Protocol, a rapidly growing on-chain application.
How will GraFun prevent pump-and-dumps?
A cornerstone of GraFun’s efforts to prevent meme coin launch scams is its unique approach toward ensuring fairness for all new project adopters.
While it will use the classic, x * y = k, automated market makers (AMM) model as the starting point for its curve, it will also employ a ‘Contribution Fee’ that starts at 60% for the earliest adopters – those likely to purchase at the lowest possible prices – and gradually decreases until it reaches 0% by the time the token sale ends.
Such design aims to ensure that being the first in the queue has benefits, while those who are somewhat late to the party are not overly penalized.
Additionally, the relatively high initial fees will serve to discourage pump-and-dump launches and drastically reduce the viability of bots and short-term speculation.
The funds raised through the fee will go into the decentralized autonomous organization (DAO) Treasury, which will, in turn, provide all token holders with voting powers, thus reducing launchpad centralization and empowering the communities.
The DAO itself would be created once the bonding curve is completed, 80% of tokens are sold, and the token migrates to PancakeSwap.
