In the second half of the meme track, aside from pvp on Sol and filling positions on Base Virtual, meme gameplay has also been updated with more variety. Repump has started recycling 'garbage' memecoins, and Farmer meme attracts users to build pools through high APR. Funds in the meme track are gradually spilling into services and narratives surrounding the meme mainline.
Farmer meme: 50 times in 3 days of MemeFi
Twitter user LSP achieved a 50-fold return in 3 days by forming a KACY/SOL pool on November 30. He earned transaction fees by pooling KACY and SOL, and after 12 hours, he reinvested the earned transaction fees (30 SOL and KACY worth 50 SOL) for 'rolling'. Although the final FDV of KAYC dropped to 20M, he still achieved higher returns compared to simply holding tokens.
Although some memecoins can easily go to zero, as long as the trading volume is large enough, LP can still earn substantial profits through transaction fees. The better entry point for Farmer meme is still to form LPs with higher APR. Farmer meme adopts CLMM (Concentrated Liquidity Market Making) instead of AMM, where liquidity providers (LP) specify the price range at which their liquidity can be traded, 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 a portion of the final rewards is distributed in the form of the token $BRRR. $BRRR is the governance token of MEME Farmer, allowing users to participate in decision-making and ecosystem activities. The token can be obtained through LP Farming, staking, and community contributions. Additionally, a 10% fee will be charged on harvested profits (all tokens in the LP will be converted to SOL). Of this, 50% of the profits will be used to buy back $BRRR and send it to the treasury address.
In the early stages, the high APR is largely due to the price increase of $BRRR being included, which can cause selling pressure after 'mining and selling'. Although $BRRR has a buyback plan later, unfortunately, $BRRR has already started to behave like a 'Christmas tree'.
It is also important to note that this project has not undergone contract auditing, presenting certain security risks.
Repump: On-chain 'turning' starts
With the explosion of new narratives for on-chain asset issuance brought by Pump.fun, although memecoins have ushered in a significant wealth-making trend, the golden dogs that can run out are still one in a million. Instead, after the feast, people realize that there are excess memecoins left in the market, and even research-oriented P players can self-deprecate by saying they are 'picking up garbage'.
The product design of Repump is similar to 'turning'. Due to the oversaturation of asset issuance, many stagnant tokens cannot be circulated. Repump can activate the liquidity of shit memecoins. Users can deposit excess memecoins into Repump's contract for destruction, after which they can claim corresponding destruction points at the end of the activity. These points can be exchanged for the new token 'Super Monster'.
It is worth noting that the points earned from destruction are only related to the value of the tokens destroyed, regardless of the number of tokens destroyed. It is also related to the total value in the destruction pool. The 'Super Monster' that users ultimately receive will be calculated based on the value they personally destroyed divided by the total value in the destruction pool.
According to Repump's official Twitter, within just 3 hours of launching the second phase, over 700 players burned more than 3,000 memecoins, with a total value exceeding 122 million USD.
Currently, the top 10 tokens being 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 burn. It is worth noting that points rewards can only be claimed after the Burn ends.
Repump's platform token Goose has also started a major upward trend, steadily rising since its launch, following the path of 'higher high, lower low'. Its market cap stabilizes around 10 million USD, 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, at a time when memecoins are cooling down, these new gameplay in the meme track can be seen as a new 'light at the end of the tunnel'.
*This article does not involve any investment advice. The aforementioned projects are still in their early stages, and readers should be aware of investment safety risks.
