This year, the Solana-based meme coin issuance platform Pump.fun, which was launched in January, has sparked a meme coin issuance frenzy by simplifying the token issuance process and lowering the technical threshold, providing users with a simple and low-cost way to deploy and issue tokens, making it one of the biggest beneficiaries of the meme coin market. It has become one of the most lucrative protocols in the short term, setting a new monthly revenue record of $30.5 million in October.
Base Meme Coin Issuance Platform Wow Launched
After Pump.fun, more and more meme coin issuance platforms have emerged, spanning various blockchains, including TRON, Ethereum, BNB Chain, TON, Bitcoin, etc., each with its own meme coin ecosystem issuance platform, and the meme coin issuance platform Wow on Base has also announced its official launch today.
wow we're live pic.twitter.com/TRqhZMtWki
— wow (@wow) November 7, 2024
According to the introduction on the official website, Wow is built on Base, and all the pools on Wow are user-generated, with the tokens in the pools not subject to any pre-sale or team allocation restrictions, and a 1% protocol fee is charged for any buy or sell transaction related to any token deployed on Wow, with the collected fees distributed proportionally to the various parties as follows:
- 50% distributed to the token creators
- 20% distributed to the protocol
- 15% distributed to platform referrers
- 15% distributed to order referrers
What's Different About Wow?
Bankless states that earlier this year, Zora launched on-chain secondary markets through a new ERC-20z token standard that allows seamless conversion between ERC-1155 Non-Fungible Tokens and ERC-20 fungible tokens, and Wow stands out among the current meme coin issuance platforms because the platform can transfer ERC-20z tokens on Base to Uniswap, which is unprecedented in the meme coin space.
Bankless points out that Wow is similar to Pump.fun, making it easy to create a new meme coin, with the initial token supply managed by a bonding curve that adjusts the token price based on demand, minting new tokens when users buy and burning tokens when users sell.
When the supply of a token reaches 800 million, its trading will be transferred to a Uniswap liquidity pool, with an additional 200 million tokens minted to provide liquidity, resulting in a final total supply of 1 billion tokens, and Wow will also take ETH from its pool and deposit it into the Uniswap liquidity pool to initiate liquidity, and the relevant LP tokens will be burned to lock them permanently.
Regarding Wow's reward distribution mechanism, Bankless believes it can provide meme coin creators with a continuous source of income from successful token issuances, and among the first meme coins issued on Wow, several have successfully transferred to Uniswap, including $DREAM, $WOW, $HIGHHORSE, $BALDO, and $CRAZYFWOG, with a total market value of slightly over $3 million:
This foreshadows a future trend: a large number of ERC-20z meme coins will soon emerge on Base.
Base meme, meme coins convertible to Non-Fungible Tokens, automated secondary market rewards, a creator-driven platform ecosystem... Wow's vision is currently unique and has the potential to lead a new wave of crypto social experiments.
