According to PANews, DEX Screener launched the token issuance trading platform "Moonshot" on Monday. Currently, more than 7,000 Solana Meme coins have been created on the platform, which is regarded as a competitor of pump.fun. However, among the more than 7,000 tokens created on Moonshot, only 27 reached the threshold of 500 SOL to obtain liquidity pools on Raydium, and only a few of them had positive price trends.

Moonshot supports anyone to create and launch their own meme coin, and users can mint a fixed supply of 1 billion tokens. Once an investor stakes 500 SOL, a liquidity pool is automatically created on Raydium DEX. Once the token reaches a market cap of 500 SOL, Moonshot will automatically destroy 150 million to 200 million tokens, creating a deflationary effect and its value may rise. Moonshot also provides additional security for investors by locking up all liquidity by destroying LP tokens. The platform plans to conduct frequent and verifiable audits, aiming to create a safe and reliable ecosystem for meme coin enthusiasts.