According to PANews, the newly launched token issuance trading platform 'Moonshot', introduced by DEX Screener on Monday, has seen the creation of over 7000 Solana Meme coins. The platform is seen as a competitor to pump.fun. However, out of the 7000 plus tokens created on Moonshot, only 27 have reached the threshold of 500 SOL, thereby obtaining liquidity pools on Raydium. Among these, only a few tokens have shown a positive price trend.
Moonshot allows anyone to create and launch their own meme coins. Users can mint a token with a fixed supply of 1 billion. Once an investor invests 500 SOL, a liquidity pool is automatically created on the Raydium DEX. Once the token reaches a market value of 500 SOL, Moonshot automatically destroys 150 to 200 million tokens, creating a deflationary effect that could potentially increase its value over time. Moonshot also locks all liquidity by destroying LP tokens, providing additional security for investors. The platform plans to conduct frequent, verifiable audits, aiming to create a safe and reliable ecosystem for meme coin enthusiasts.