According to Wu, Layer-1 blockchain Fantom has reserved $6.5 million worth of native FTM as a development fund to promote the concept of safer meme coins. Michael Kong, CEO of Fantom Foundation, said that he hopes to create an environment where people can launch so-called "safer meme coins" and introduce technical and non-technical measures to ensure that the project is "not just an outright scam or a means to defraud funds." Previously, Andre Cronje, director of Fantom Foundation, published an article to explain the framework of the community meme coin he designed.