TLDR
- Dexscreener has launched “Moonshot,” a new token launching platform on Solana, competing with Pump.fun.
- Moonshot allows users to create their own tokens with a 1 billion supply for a small fee of 0.02 SOL.
- Once a token reaches a market cap of 500 SOL (about $68,000), it migrates to the Raydium decentralized exchange.
- The platform claims to be audited, unruggable, and free from pre-sales or insider allocations.
- Since its launch, 333 tokens have been created on Moonshot, with 27 reaching the threshold for Raydium deployment.
Dexscreener has unveiled “Moonshot,” a new token launching platform built on the Solana blockchain. Launched on June 24, 2024, Moonshot is positioning itself as a direct competitor to the popular Pump.fun, offering users the ability to create and launch their own tokens with ease.
Moonshot’s entry into the market comes at a time when memecoins and user-generated tokens are experiencing a surge in popularity.
The platform allows anyone to mint their own token for a nominal fee of around 0.02 SOL, mirroring the accessible model that has made Pump.fun a hit within the Solana community.
The process of creating a token on Moonshot is straightforward. Users can connect their wallet, choose a name, symbol, and image for their token, and launch it into the wild.
They also have the option to add social media links, potentially boosting the token’s visibility and appeal. Each token is created with a fixed supply of 1 billion, providing a clear and predictable tokenomics model.
What sets Moonshot apart is its unique liquidity migration process. Once a token reaches a market capitalization of 500 SOL (approximately $68,000), it automatically migrates to Raydium, a well-established decentralized exchange on the Solana blockchain.
BREAKING: @dexscreener LAUNCHES @pumpdotfun COMPETITOR "MOONSHOT" pic.twitter.com/g6Oq2RYpti
— DEGEN NEWS (@DegenerateNews) June 24, 2024
This transition aims to provide a more secure and liquid environment for further trading. As part of this process, between 150 to 200 million tokens are burned, introducing a deflationary mechanism that could potentially drive up the token’s value.
Dexscreener is making bold claims about Moonshot’s security and fairness. The platform states that it has been fully audited, although specific details of this audit are not provided.
It also asserts that the tokens created are “unruggable” and that there are no pre-sales or insider allocations, aiming to ensure a fair launch where all participants have an equal opportunity to acquire tokens.
Within hours of its release, the platform was flooded with new memecoins. As of the latest count, 333 tokens have been created on Moonshot, with 27 of them successfully reaching the 500 SOL threshold and migrating to Raydium. The tokens span a wide range of themes, from political tokens to those inspired by recent viral videos.
Among the tokens that have made it to Raydium, five have shown positive price movements in their early hours of trading: Pepe (PEPE), Stan (STAN), Long Horse (LONGHORSE), Dex Mascot (EAGLE), and Moon Cat (MC). This early traction suggests that there’s an appetite among traders for these newly minted tokens.
