Blast ecosystem users will have to bid adieu to Pacmoon, the largest meme coin on the L2 network. The asset’s home base is soon going to be shifted to Solana.
The migration will be followed by the rebranding of the token from PAC to ARMY. According to team member ‘Solja Boy,’
“This rebrand will enable us to do stuff no other project can do and also increases the ceiling for how successful we can become.”
Ethereum and Base were the other two chain options that Pacmoon was considering before zeroing down on Solana.
Highlighting why the team was more inclined to Solana, ‘Bobby Big Yield,’ another Pacmoon team member, said,
“It is clear to us that Solana will continue being the #1 place for meme coins this cycle. New retail traders are onboarding to SOL and crypto natives are rotating into it. SOL’s strength provides a massive boost to every coin on its chain.”
Building on Blast had been more of a bitter than a sweet experience for the team. According to team member 'Lamboland,' tokens, community, and culture are what make a blockchain successful. However, Blast “never” focused on that.
He further underlined that Blast created a system where native tokens on the network were “actively disincentivized.” The team “provided zero social support.” He asserted,
“Building on Blast has always been an uphill battle for us.”
As far as the migration is concerned, holders will first have to burn their tokens. The team will then proportionately airdrop ARMY tokens on Solana.
The migration is set to take place next week, on Aug. 14. That date also marks the deadline for users to burn their PAC tokens.
The meme coin market on Solana has evidently branched out this cycle. Thousands of coins are launched on Solana a daily basis.
While some have successfully managed to amass liquidity and fetch early backers hefty ROIs, most others continue to be ‘nobody’ tokens.
Bobby Big Yield addressed concerns pertaining to the saturation of the Solana meme coin market and the short-term orientation. He said,
“While this is true for the most part, strong communities are still emerging. We believe we’ll be the next one because we've already built an amazing community of holders and creators.”
In the meme market, attention is the most important currency. According to the team, Solana is “an attention game” and the Pacmoon team has “consistently proven” that they know “how to go viral.”
Bobby Big Yield emphasized,
“Capturing attention will be even easier on Solana because the ecosystem is so much larger and we’ll have access to the best partnerships.”
Pacmoon currently has a market cap of $14.3 million. At press time, it was seen exchanging hands around $0.0319.
