Floki FLOKI/USD has entered into a partnership with GraFun, new meme coin launchpad set to debut on the Binance Smart Chain BNB/USD.
What Happened: The platform, which follows similar models on other blockchains, aims to facilitate the creation and launch of meme coins within the BNB ecosystem.
Following this news, Floki’s token price increased by around 16%. It is now up 27.6% over the past week, making the meme coin one of the ten best performing cryptocurrencies on the market.
According to an announcement, GraFun utilizes a bonding curve model for token launches, allowing users to create meme coins without extensive technical knowledge.
This approach lets market demand determine a coin’s viability and potential listing on decentralized exchanges.
The launchpad has secured partnerships with several entities in the cryptocurrency space, including BNB Chain, DeXe Protocol and HOT Protocol.
DWF Labs has also joined as a strategic partner.
According to the announcement, Floki will acquire a 40% ownership stake in the platform and receive 40% of its revenue.
Also Read: Is Kamala Harris Headed For A ‘Crypto Reset’? Advocates See ‘Encouraging’ Signs But Here’s Where It Gets Tricky
GraFun claims to have attracted over 3.7 million whitelisted users during its pre-launch phase, with more than 291,000 users reportedly funding their wallets in preparation for its launch.
Similar platforms on other blockchains, such as PumpFun on Solana SOL/USD and SunPump on Tron TRON/USD, have reportedly generated substantial fees in recent months.
What’s Next: For those interested in exploring the broader implications of such platforms and trends in the digital asset market, Benzinga’s Future of Digital Assets event on Nov. 19 will feature discussions with industry experts on various aspects of the cryptocurrency landscape.
Read Next:
Image: Shutterstock
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Market News and Data brought to you by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
