Well-known meme currency Pacmoon announces migration
Pacmoon ($PAC), a well-known meme currency originally on the Blast chain, the team recently announced through the social platform The $PAC token was renamed $ARMY, sparking quite a discussion.
With the migration of Pacmoon, existing $PAC tokens will be burned and new $ARMY tokens will be airdropped based on the amount burned.
The countdown is already displayed on Pacmoon’s official website, with only 6 days left before the migration day on August 14. The most controversial part of the process is the critical remarks against the Blast chain in the Pacmoon team’s announcement.
Blamed Blast for being dead
As the memecoin with the highest market value on the Blast chain, Pacmoon has always been regarded as the chain's meme leader and star token. However, the Pacmoon team publicly criticized Blast through a member Lamboland's X tweet, accusing the The chain's framework "severely inhibits native tokens" and completely ignores the importance of the community.
Lamboland said: "Building Blast has been an uphill battle for us. We believe that tokens, community and culture are the factors for the success of blockchain, but Blast has never focused on this."
These remarks sparked heated discussions in the community. For a blockchain with decentralization as its core value, if the ecosystem of a certain chain cannot support the native tokens issued on its own chain, it will undoubtedly be questioned.
I am more optimistic about the development of “this chain” in the future.
The Pacmoon team stated that they chose Solana for migration because the Solana chain has performed very well this year, especially the growth of the memecoin market.
According to data from CoinGecko, the market value of meme coins on Solana has reached US$6.47 billion, and the single-day transaction volume can even be as high as US$2.94 billion. The Pacmoon team believes that $ARMY on the Solana chain will be able to attract more users and gain greater success.
Pacmoon member Solja Boy said on X: "This rebrand will allow us to do things that other projects cannot and increase the ceiling of our success."
As the Pacmoon team announced the migration news, the token surged 118.8% in the past 24 hours, hitting a maximum of $0.048 and $0.031 at the time of writing.
The departure of Pacmoon has undoubtedly caused Blast to lose an important pillar. As one of the tokens with the highest market value on the Blast chain, Pacmoon's migration may cause other projects to follow suit, further weakening Blast's competitiveness and causing many people to question Is Blast’s ecosystem still attractive?
