The Tron network welcomes its first Memecoin launch platform

Recently, a new Memecoin launch platform has appeared on the Tron network, and its operating model is very similar to that of a well-known platform on the Solana chain. Since its launch on August 13, this new platform's market capitalization has quickly surpassed $1.1 billion, with daily active user numbers reaching 20,000. Below, we will take a closer look at the development of this new platform and its competing platform on Solana, and compare the two.

The new Tron platform is rapidly rising, expanding its market share

As the first Meme coin issuance and trading platform based on the Tron network, this new platform offers creators a convenient and low-cost way to issue their own meme coins in a safe and user-friendly environment.

According to data from the platform, as of August 23, the platform has issued nearly 32,000 token projects in just 11 days, with protocol revenue exceeding 12,811,356 TRX (currently valued at approximately $1.91 million). On August 22, the platform's daily revenue reached $567,000, surpassing the $368,000 of competing platforms on Solana.

Moreover, the platform has been online for only a week, and the market capitalization of several meme projects has surpassed 1 million USD. Among them, a project named Sundog reached a peak market capitalization of nearly 300 million USD, with a 24-hour trading volume exceeding 5 million USD. Meanwhile, Sun Yuchen changed his social media avatar to the image of Wukong from "Black Myth," driving the market capitalization of the related memecoin to rise 8 times in a short period, reaching 5 million USD, which also led to a further increase in the price of TRX.

Tron New Platform Operation Mechanism

1. Users first explore meme coins on the platform and select those that attract their interest.

2. Use the Bonding Curve mechanism to purchase tokens, which provides users with a friendly purchasing process, making it easy to enter the meme coin market.

3. Users can sell tokens at any time, whether to lock in profits or to stop losses, the platform provides users with flexible trading options.

4. With the increase in community participation and purchasing volume, the market value of meme coins is expected to rise rapidly. Once the market capitalization of the token exceeds $69,420, liquidity will be added to the decentralized exchange on Tron.

5. Create liquidity and destruction mechanisms. Once the Bonding Curve is completed, approximately $12,000 worth of TRX liquidity support will be automatically deposited into the decentralized exchange and destroyed.

Competing platforms on Solana still hold a leading position in the market

The competing platform on Solana is a leading platform focused on creating and trading memecoins. It allows users to quickly respond to news events or social phenomena by creating tokens, making it a standout in the Memecoin issuance platform.

The platform was launched at the end of January this year, initially receiving little attention, but over time, especially by April, it gradually entered the public eye. Its success relies not only on a precise understanding of the attention economy but also on a clever design of asset issuance.

Despite the emergence of numerous competitors in the market, the platform still maintains its leading position, keeping a very high level of market attention and popularity, and it became the highest daily revenue blockchain platform in May this year.

According to data from the platform, as of August 23, the platform has deployed more than 1.86 million token projects, with total revenue exceeding 651,072 SOL (currently valued at approximately 93.8 million USD).

On this platform, users can easily create their own memecoin by simply entering the token's name, trading code, and image. The whole process is simple and intuitive, requiring almost no technical knowledge. The cost to deploy a token is about 0.02 SOL (approximately 3 USD), allowing users to easily try creating their own tokens.

The platform uses a Bonding Curve model to determine the token price. As more people purchase a certain token, its price gradually rises along a predetermined curve. Once the market value of a token reaches $69,000, the platform will automatically deposit $12,000 worth of liquidity into the decentralized exchange.

In addition, the platform combines social media dynamics with financial incentives. On August 23, the platform launched a live streaming feature called "Stages," which allows multiple users to stream simultaneously, supports screen sharing and voice chat, further enhancing the platform's interactivity and user experience.

This innovative model may profoundly change the way people publish and interact, giving every user the opportunity to become an early participant in the market and seize development opportunities.

Comparison of Two Major Platforms

The new platform on Tron, relying on its large user base and the personal influence of Sun Yuchen, has quickly surpassed a market value of $1.1 billion. The incentive plan launched in cooperation with the Tron DAO further enhanced the platform's popularity and attractiveness. In contrast, the competing platform on Solana, as the leading platform of that chain, has accumulated nearly $100 million in revenue since its launch at the beginning of the year, thanks to its simple user interface and unique asset issuance design, firmly holding the top position in the market.

The platform on Solana leverages the active community ecosystem of SOL, dominating in user numbers and transaction volumes. By combining social media dynamics with financial incentives, it further enhances the user interaction experience. Both emphasize low fees and ease of operation, jointly driving the prosperity of the memecoin market, each attracting widespread attention and participation from the community in unique ways.