GraFun Starts Labs Division to Boost Memecoin Ecosystem on BNB Chain
Partners include trading firm DWF Labs and the Floki, BNB Chain’s largest memecoin by market capitalization.
Updated Oct 17, 2024, 12:00 p.m. Published Oct 17, 2024, 12:00 p.m.
- GraFun, a memecoin launchpad on the BNB Chain, has introduced GraFun Labs aimed at fostering growth in the meme ecosystem through partnerships with DWF Labs and Floki.
- GraFun Labs will assist new memecoin projects with a unique narrative through its Growth Program.
Memecoin launchpad GraFun today releases its GraFun Labs division, a multi party initiative to support and grow the meme ecosystem on BNB Chain.
The Labs partners include trading firm DWF Labs and the Floki, BNB Chain’s largest memecoin by market capitalization. The project will help small memecoins in community growth, brand, marketing, engagement and influencer marketing.
“Memecoins have become a central crypto market driver, dictating much of the on-chain volume and shaping the culture integral to crypto’s identity,” a representative for GraFun told CoinDesk in a Telegram message. “Establishing GraFun Labs will enable the next wave of memecoin projects to realize their full potential.”
“Memecoin projects with a strong narrative and unique approach are encouraged to apply to Growth Program through GraFun Labs’ online submission form,” the team member added.
GraFun launched in September on BNB Chain with a "Fair Curve" mechanism for issuing new memecoins, which developers say minimizes rug-pull risks, reduces price manipulation, and results in fewer users losing money. It recorded over $250 million in trading volume in its first 24 hours on PancakeSwap.
Shaurya Malwa
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis. Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA. He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.
