07-24 05:31 Thursday
Memecoin launchpad LetsBONK pledges 1% of revenue to buy back top tokens
According to the news from the Coin World Network, LetsBONK, the Memecoin startup platform that supports the Solana-based memecoin BONK and its ecosystem, announced on Wednesday that it would set aside 1% of its total revenue to buy back "top trading pairs in the BONK ecosystem." According to the team's announcement on X, this revenue will be reallocated from the marketing fund of the LetsBONK team. According to Adam_Tehc's Dune dashboard, which tracks rival memecoin platforms, LetsBONK has received about $1.5 million in fees in the past 24 hours. 1% of this revenue is equivalent to $15,000.00 in buying pressure on top token pairs such as Useless Coin, which has a market value of about $312 million according to CoinGecko data. "[The buyback] will be done once a week, and any trading pair that reaches a high can be included," LetsBONK founder Tom wrote on X. “More coming soon.” According to the Dune dashboard, the combined market cap of recently launched tokens on LetsBONK has surpassed $1 billion. Useless Coin is the largest token in the ecosystem, followed by ANI, a token representing xAI’s recently launched Grok AI Companion. Notably, rival platform Pump has integrated its revenue-sharing mechanism into its newly launched PUMP token, as well as a “community takeover” mechanism that will enable users to commandeer “abandoned” projects.
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