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According to data, the newly launched GraFun Launchpad, a collaboration between Floki and BNB Chain, has taken giant strides. The memecoin registered over $250 million in trading volume within 24 hours of listing on PancakeSwap.
Platform Rakes $100,000 in Fees Within 24 Hours
As per the report, a Floki developer supporting the platform confirmed the notable achievement. The GraFun memecoin has been designed exclusively for the BNB chain. Shortly after its unveiling on Sept. 27 on the BNB chain, GraFun registered over 5,800 tokens on its debut day. This supported GraFun in generating approximately $100,000 in transaction fees for the blockchain.
Meanwhile, another GraFun-originated project, BabyBNB, also recorded peak performance just one day after its release. BabyBNB has a market capitalization of $132 million and is listed on the centralized exchanges MEXC and Gate.
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So far, Floki has provided massive support to GraFun memecoin. Given the backing it enjoys, a developer observed that it could cause noticeable disruption in the broader memecoin ecosystem. The projection lies in GraFun’s innovative launch mechanics for the BNB chain.
GraFun’s Fair Curve Design Reduces Risk of Rug Pulls
The attraction to GraFun is its “Fair Curve” design model, which developers acknowledge reduces rug-pull risks. It also safeguards against price manipulation and ensures fairer token issuances. All these appeal to users who are confident that the loss of invested funds will be minimal.
According to a developer, identified as B, Floki strongly believes in memecoins. Developer B noted that memecoins would drive the real crypto revolution, and GraFun appears to have debuted at the right time as more memecoins go mainstream.
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Additionally, developer B remains confident that the collaboration with the BNB chain is strategic. He highlights BNB chain’s fast, cheap, and scalable network as suitable for making it a hub for memecoin activities.
GraFun’s Strategic Partnerships and Market Response
GraFun, which leans on the support of some notable platforms like HOT Protocol and DeXe Protocol listed DWF Labs as a strategic partner. Based on the agreement, Floki will collect 40% of fees generated as per ownership entitlements.
Floki initially experienced a 6% climb at the launch of GraFun. However, according to CoinMarketCap data, it has dropped by 3.65% to $0.0001586 at the time of writing.
