In the second half of the meme track, in addition to PVP on Sol and internal disk on Base Virtual, meme gameplay has also been updated and more and more varied. Repump began to recycle "junk" memecoins, and Farmer meme attracted users to build pools through high APR. The funds in the meme track gradually overflowed into the services and narratives around the main line of meme.
Farmer meme: MemeFi increased 50 times in 3 days
On November 30, an analyst created a KACY/SOL pool and earned 50 times the profit in 3 days. He earned transaction fees by combining KACY and SOL into a pool, and deposited the transaction fees (30 SOL and 50 SOL equivalent KACY) again for "rolling" 12 hours later. Although KAYC's final FDV dropped to 20M, it still earned higher returns than simply holding the coin.
Although some memecoins are very prone to going to zero, as long as the trading volume is large enough, LPs can still earn substantial profits through transaction fees. The best entry point for Farmer meme is still to form LPs with a higher APR. Farmer meme adopts CLMM (Concentrated Liquidity Market Making) instead of AMM, where liquidity providers (LP) specify the price range their liquidity can be traded at, and users need to manually set the range. If the price range is not adjusted in time, it can result in significant impermanent loss.
However, it is worth noting that part of the rewards obtained will be distributed in the form of the token $BRRR. $BRRR is the governance token of MEME Farmer, allowing users to participate in decisions and ecosystem activities. Tokens can be obtained through LP Farming, staking, and community contributions. In addition, harvest earnings will incur a 10% fee (all tokens in LP will be converted to SOL). Of this, 50% of the earnings will be used to repurchase $BRRR and send it to the treasury address.
In the early stages, the relatively high APR was largely due to the increase in $BRRR being included, which would create some selling pressure after 'mining and selling'. Although there are repurchase plans for $BRRR later on, unfortunately, $BRRR has already begun to follow a 'Christmas tree' pattern.
It is also important to note that the project has not yet undergone a contract audit, posing certain security risks.
Repump: On-chain 'Zhuanzhuan' launched
With the explosion of new narratives in on-chain asset issuance brought by Pump.fun, memecoins have indeed ushered in a significant wealth surge, but the golden dogs that can emerge are still rare. Instead, after the feast, people realize that the market is left with an excess of memecoins, and even research-type P players might self-deprecate as 'picking up trash'.
The product design of Repump is very similar to 'Zhuanzhuan'. Due to the excessive issuance of assets, many stagnant tokens cannot be utilized. Repump can activate the liquidity of shit memecoins. Users can deposit excess memecoins into Repump's contract for burning, and after burning, users can earn corresponding burn points, which can be exchanged for the new token 'Super Monster'.
It is worth noting that the points earned from burning are only related to the value of the burned tokens and not the quantity of tokens burned. It is also related to the total value in the burn pool. The 'Super Monster' that users ultimately receive will be calculated based on the user's personal burned value divided by the total value in the burn pool.
According to Repump's official Twitter, the second phase saw over 700 players burn more than 3,000 memecoins within just 3 hours, with a total value exceeding $122 million.
Currently, the top 10 tokens burned on Repump are: $PNUT (33.31%), (11.67%), $RIF (9.68%), $SCIHUB (2.11%), $WIF (1.77%), $ACT (1.51%), $SSS (1.31%), $NuCouché (1.3%), and $Riemann (1.28%), with other tokens accounting for 33.45% of the total burned amount. It is worth noting that points can only be claimed after the burn ends.
Repump's platform token Goose has also begun its main upward wave, steadily increasing since its launch, following the 'higher high, lower low' path. Its market cap is currently stable at around $10 million, with trading volume fluctuating around $800,000. The platform token Goose will also be empowered in the future.
The market has voted with its feet to choose the mainstream narrative of this round of 'meme super cycle'. Although there are still many voices expressing FUD towards these projects, during the cooling off period of memecoins, these new gameplay in the meme track can be seen as a new 'ray of hope'.