In the second half of the meme track, besides pvp on Sol and filling positions on Base Virtual, meme gameplay has also been updated with more variety. Repump has begun recycling 'junk' memecoins, with Farmer meme attracting users to build pools through high APR. The funds in the meme track are gradually overflowing into services and narratives surrounding the mainline of meme.
Farmer meme: 50x MemeFi in 3 days
An analyst achieved a 50x return within 3 days by forming a KACY/SOL pool on November 30. He earned transaction fees by forming a pool with KACY and SOL, and after 12 hours, reinvested the earned transaction fees (30 SOL and equivalent KACY of 50 SOL) for 'rolling over'. Although KAYC's final FDV dropped to 20M, a higher yield than simply holding was still achieved.
Although some memecoins can easily go to zero, as long as the trading volume is large enough, LP can still earn considerable profits through transaction fees. The best way for Farmer meme to enter is still to form LPs with high APR. Farmer meme adopts CLMM (Concentrated Liquidity Market Making) instead of AMM, where liquidity providers (LP) designate the price range for their liquidity to be used for trading, and users need to manually set the range. If the price range is not adjusted in time, it will result in significant impermanent loss.
It is worth noting that a portion of the rewards obtained is distributed in the form of the token $BRRR. $BRRR is the governance token of MEME Farmer, enabling users to participate in decision-making and ecosystem activities. Tokens can be obtained through LP Farming, staking, and community contributions. Additionally, harvesting profits will incur a 10% fee (all tokens in LP will be converted to SOL). Of this, 50% of the profits will be used to repurchase $BRRR and send it to the treasury address.
In the early stages, the high APR was largely due to the appreciation of $BRRR being factored in, which would create some selling pressure after 'mining, withdrawing, and selling'. Although there was a repurchase plan for $BRRR later, unfortunately, $BRRR has now begun to follow the path of a 'Christmas tree'.
It should also be noted that the project currently has not undergone contract audits, presenting certain security risks.
Repump: On-chain 'Zhuanzhuan' starts
With Pump.fun bringing an explosive new narrative to on-chain asset issuance, memecoins have ushered in a significant wealth creation trend, yet the golden dogs that can emerge are still few and far between. Instead, after the feast, people realize that there is an excess of memecoins left in the market, and even research-type P players will self-deprecate as 'picking up trash'.
Repump's product design is very similar to 'Zhuanzhuan'. Due to the oversupply of asset issuance, there are many stagnant tokens that cannot be utilized. Repump can activate the liquidity of shit memecoins. Users can destroy excess memecoins by depositing them into Repump's contract, and after destruction, users can claim corresponding destruction points at the end of the event, which can be used to exchange for the new token 'Super Monster'.
It is worth noting that the points earned from destruction are only related to the value of the destroyed tokens, not the number of destroyed tokens. 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, in just 3 hours after launch, over 700 players burned more than 3,000 memecoins, with a total value exceeding 122 million USD.
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 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'. The market cap is stable at around 10 million USD, with trading volume fluctuating around 800,000. The platform token Goose will also empower in the future.
The market has voted with its feet, choosing the mainstream narrative of this round of 'meme super cycle'. Although there are still many voices expressing FUD towards these projects, as memecoins cool down, these new gameplay in the meme track can be considered a new 'light at the end of the tunnel'.