FairLaunch Meme Token Grant Program: Preventing Rug-Pulls

Market Analysis

In the recent 2024 bull run, meme tokens have significantly expanded ecosystems like Avalanche and Solana. According to CoinGecko, Solana (SOL) is nearly reaching its all-time high of $260, sitting just 22% below, even though it has already surpassed its previous market cap peak at $75 billion. On the other hand, Avalanche (AVAX) has seen a remarkable 659% price increase, leading the Avalanche Foundation to establish a $100 million fund dedicated to supporting meme token creators.

Problems with Current Token Launch Practices

However, not everything is as promising as it appears. A staggering 99% of meme tokens are affected by pump and dump schemes, severely damaging the ecosystem’s integrity. The economics of token creation, which primarily involve minimal costs—almost limited to deployment and marketing expenses—allow for such exploitative practices. This low barrier to entry creates a fertile ground for exploitation.

Proposed Solution: FairLaunch

To protect the community from these exploitative practices, it is crucial to implement protective mechanisms. A promising solution is the implementation of a FairLaunch system. Under FairLaunch, token creators must lock the total supply and disable any withdrawal capabilities, compelling creators to buy their tokens on the open market alongside retail investors. This promotes fairness and enhances security.

Main Requirements for FairLaunch:

• Create a token with a hard total supply
• Lock the total supply of tokens in smart contracts provided by campaign partners, with no options for withdrawal.

Supporting Initiatives

Blueshift and its partners are providing an infrastructure for fair and secure meme token launches and initiating a $1,000,000 grant program for creators of MEME tokens.The grant program is divided into five progressive levels. Each level offers increasingly complex challenges, providing opportunities for community members to earn up to $100,000. Successful completion of all tasks at a level rewards both participants and the token creator, unveiling the next level’s tasks.

Partners:

• Blueshift.fi: Provides the trading infrastructure and has allocated $1M in BLUES tokens for grants.
• Firmshift: Offers technological support along with advice on token economics and marketing.
• Memecorn.fi: Supplies launchpad infrastructure for token launches.

For more information or to apply for the grant, please visit our application page: Apply for a $1,000,000 MEME token creators grant.