With the crypto world getting ready for another bright run, it is only imperative that new trends can strengthen the space much more. Previous crypto booms had initial coin offerings (ICOs) and non-fungible tokens (NFTs) as epicenters. This time around, it is time for meme coins and associated applications to make an irresistible impact in the crypto ecosystem. While we had seen the advent of meme coins in the last blog, we will now focus on building an IDO launchpad for meme coins. We believe this space has scope for growth and establishment of ventures, and hence we come with expert insights.
Table of Contents
– Why are Meme Coins Currently Trending?
– The Need for an IDO Launchpad for Meme Coins
– What Should an IDO Launchpad for Meme Coins Focus On?
– Blockchain App Factory – The Ideal Destination for Creating New-gen IDO Launchpads!
Before seeing why meme coins have been trending recently, it is essential to know what these coins exactly are. Meme coins are a category of cryptocurrency that initially started out for a different reason but has since got an established position in the crypto space. What is required for such tokens more than being accepted across various businesses and listed on numerous crypto exchanges? Dogecoin ($DOGE), Shiba Inu ($SHIB), Pepe ($PEPE), and Memetic ($MEME) are popular meme coins at the time of writing.
The main reason meme coins hit the top trending charts is the influence of internet memes on the younger generation of Web3 consumers. But it isn’t the only one! In fact, the latest wave of trend is purely due to the popularity surrounding the BRC-20 token standard on the Bitcoin network. Also, these tokens attempt to make cryptocurrencies easy to understand and use, increasing adoption levels as a result. Moreover, several meme coin projects have crafted long-term plans emphasizing their communities using various applications like marketplaces, games, and metaverse worlds.
While we have seen how meme coins just arose out of thin air, we should not forget that most such projects did not have huge backing or initial support. With awareness of making meme coins as a business option on the rise, projects feel the importance of getting an initial user base. An IDO launchpad for meme coins does precisely that by helping projects widen their community and gain an initial kickstart. The below points demonstrate why IDO launchpads are crucial for meme coin projects:
- IDO launchpad applications can aid meme coin projects in Gaining Credibility and Trust among users. This is necessary because most meme-based crypto coins do not have the backing of established names or brands. Utilizing a launchpad can be a viable alternative to becoming credible among audiences.
- With a launchpad based on decentralized exchanges (DEXs), meme coin ventures can ease their Community Building process. Since an IDO launchpad will already have a sizable following, an initial target audience will be already present to view the project. Communication with supporters can also get easy with Discord servers, whose links can be shared on the project’s description on the launchpad.
- Using an IDO launchpad can quicken Reaching Investors for a meme coin project. Most investors look out for exciting projects on IDO launchpads, and well-directed promotions can help meme coin ventures reach them easily. Having the support of a huge investor community can enhance liquidity and price appreciation for meme tokens in the long run.
- Launching meme coins on an IDO launchpad also enables the project to portray itself as Secure and Safe. Most IDO launchpads have in place a vetting mechanism to verify projects before listing, and passing the process can help a meme coin venture to instill belief among potential community members.
- IDO launchpad platforms focusing on meme coins will also assist in the tokens having High Liquidity Levels, as these coins can be easily traded on decentralized exchanges. While the project provides token liquidity, launchpads help to gain seamless reach and higher trading volumes.
- High-grade Vetting – An IDO launchpad for meme coins should have a carefully-devised vetting mechanism in place. Having one can ensure only legitimate projects come out to the platform’s community. Manual, automated, and consensus mechanisms can be utilized to provide due diligence for new meme coin ventures.
- Community Engagement – Such an IDO launchpad should provide options for project teams to communicate efficiently with their community members. This can be made possible through in-app social features and by allowing community handle links to be embedded alongside the project’s description.
- Liquidity Mechanism – IDO launchpads, in conjunction with meme coin projects, can help to increase token liquidity by releasing tokens periodically. Often launchpads will have a predetermined volume of tokens locked in smart contracts that will be released in small volumes after the initial launch.
- Transparency – IDO launchpad platforms for meme coins should preserve openness at all levels. Details such as the listing process, allocation, and distribution of tokens should be prominently displayed on the platform for users to make informed decisions.
- Token Utility – As part of vetting, the meme coin IDO launchpad should focus on presenting projects that offer plausible use cases apart from being a satirical take on the crypto world. For example, some meme coin projects might focus on gaming, while some could focus on decentralized finance (DeFi). Listing such tokens can build the launchpad’s reputation in the crypto space.
- Support – A launchpad platform for meme coins should provide extensive community support. This can range from simple FAQs, tutorial videos, and comprehensively-written blogs to having active customer support channels to resolve user queries on the go.
Over the years, Blockchain App Factory has focused on innovation in the crypto industry, and meme coins have been one of our top excellences. Our excellence in creating IDO launchpad for meme coin projects allows businesses to tap into an active and trending market that will not be short of action any time soon. As a budding business owner, you can easily utilize our extensive tech stack and seasoned developers to launch your new meme coin IDO launchpad on various leading blockchains.