Pump.fun single-handedly took the memecoin craze to a whole new level this cycle. Coin launchers were bestowed with the freedom to launch coins under any random ticker, while traders and investors were busy having fun making and losing money.
Background
- Seeing Pump.fun gain popularity, a bunch of other platforms were put to sea to compete with it
- Justin Sun went on to launch SunPump
- Meanwhile, ‘cryptofishx,’ the co-founder of the Trader Joe (LFJ) platform unveiled that he was building a Pump.fun competitor called Token Mill
- The platform is now live on Solana
- From the fundamental perspective, Token Mill is a Bonding Curve Automated Market Maker (BCAMM)
Why should you pay attention?
- This platform lets creators have more control over their tokens
- In fact, they can also design the parameters of their tokens with a high level of flexibility: tokenomics, vesting periods, unlock cliffs, staking, etc.
- Creators have a bunch of audited token templates to choose from and kickstart the launch process
- The mechanisms in play will slash the odds of snipers eating away all the supply
- Rugs pulls will also be minimized, by and large
- Tokens launched on Token Mill are set to be fully DeFi compatible
Who said what?
- Emphasizing on the versatility of the platform, ‘cryptofishx’ said,
“Token Mill is designed to launch any type of coin, not just memecoins. So think less memes and autism and more of a nerdy creative playground for token creators”
Zooming out
- Even though thousands of coins are launched on Pump.fun on a daily basis, most of them fail making their way onto Raydium
- Token Mill makes the memecoin casino a much safer place, thanks to its customizable features
