As a seasoned crypto investor with over a decade of experience under my belt, I must admit that the recent development by PancakeSwap has caught my attention. Having witnessed the Solana hype fueled by meme coins launched on pump.fun, I can’t help but feel a sense of deja vu with the introduction of PancakeSwap Springboard.
PancakeSwap introduced ‘PancakeSwap Launchpad,’ a novel platform enabling users to generate and publish meme tokens onto the BNB Smart Chain. Soon after its debut, Binance Coin’s (BNB) value peaked at an all-time high of $782.
On December 4th, the multi-chain DEX protocol PancakeSwap unveiled PancakeSwap (CAKE) Springboard for public use. As explained in their blogpost, PancakeSwap Springboard is a user-friendly platform that allows individuals to develop and release tokens on the BNB Chain.
As a researcher delving into the realm of blockchain and cryptocurrency, I find myself intrigued by the potential impact that PancakeSwap Springboard might have on the BNB Chain. Much like how pump.fun sparked a wave of excitement around Solana through meme coins born on its platform, I envision PancakeSwap Springboard could usher in a fresh wave of meme coins on the BNB Chain. This influx could ignite a new level of hype and engagement within the BNB Chain community, much like what we witnessed with Solana’s meme coin phenomenon.
Following the debut of PancakeSwap Springboard, Binance Coin (BNB) experienced a significant spike, climbing over 20% in the last day and hitting an unprecedented price level of $782, as per crypto.news data. Moreover, BNB’s market cap has now eclipsed Solana (SOL), placing it as the fifth largest cryptocurrency on the market. Currently, BNB boasts a staggering market cap of $113 billion.
Just moments after the platform’s debut, I find myself amazed to see several tokens making their way onto its leaderboard, sorted by advancement. As I write this, the top token on the PancakeSwap Springboard is none other than BNB CAT, a token tied to Binance Smart Chain. This token currently boasts a market cap of $96,040 and a virtual liquidity of $6,260.
Among the latest additions to the rankings are BNB PUNK, MiniCake, CAKEMDENG, and MONKY. At present, these tokens boast market capitalizations in the tens of thousands.
On PancakeSwap Springboard, users don’t need to write any code; instead, they just need to set up their project’s name, symbol (or ticker), and fundamental settings. Additionally, PancakeSwap SpringBoard asserts that it does not impose a launch fee for projects on its platform.
As a crypto enthusiast embarking on a journey to create a meme coin, a community-focused initiative, or a DeFi project, SpringBoard streamlines the process, making it effortless with just a few simple clicks – from the inception of my token to setting up its liquidity. This is according to their protocol’s statement.
As a researcher, I want to clarify that while this protocol offers an opportunity for my token to enter the market, it will come with a trading fee of 1%. This fee is subject to a minimum charge of 0.001 BNB. Additionally, there’s a seeding fee of 2% of the token’s liquidity that will be applied prior to the migration to PancakeSwap.
As an analyst, I’d rephrase that blogpost as follows: In this setup, 50% of the seeding fee is allocated to the token creator, while the remaining 50% is directed towards PancakeSwap SpringBoard. This protocol offers flexibility by allowing users to select from a variety of tokens for trading pairs and liquidity pools, such as Binance Coin, USDT (USDT), and PancakeSwap’s native token.
When a token’s liquidity on SpringBoard hits 100% of the bonding curve (which is equivalent to 24 BNB), all the previously minted tokens of that token will be pairwise connected on the PancakeSwap Decentralized Exchange, thereby creating liquidity.
Project tokens satisfying certain conditions will receive an increase in their liquidity pools using CAKE, based on the organic trading volume as defined by the protocol’s SpringBoard Farm Program. This program aims to stimulate liquidity, boost community involvement, and enhance visibility for a user’s project within the SpringBoard platform ecosystem.
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2024-12-04 14:58