DWF Labs Unveils Platform for Launching Meme Coins

Market maker and venture crypto investor DWF Labs is developing a service for launching meme tokens, according to the company’s co-founder Andrei Grachev.

Memes focused products boost metrics of any chain faster and more efficient than any other marketing spendings. Ability to offer it as a service seems very useful, we are working on it at @DWFLabs and rolling our to a few new chains very soon

— Andrei Grachev (@ag_dwf) October 21, 2024

According to him, the firm considers such a service “very useful.” The team plans to introduce the solution “soon” on several blockchains.

“Memes focused products boost metrics of any chain faster and more efficiently than any other marketing spendings,” Grachev emphasized.  

Earlier, reports highlighted DWF Labs’ investments in well-known coins in the segment, such as Floki and Milady Meme Coin.

In June, following the success of the meme coin creation platform Pump.fun on Solana, a competing platform was introduced by the cryptocurrency data aggregator DEX Screener.

In August, the TRON team implemented a similar solution for its blockchain. Project founder Justin Sun offered a reward of 888 TRX (~$139) for the successful launch of tokens on SunPump.

Debuting in September, the Ethervista platform, touted as an Ethereum counterpart to Pump.fun, quickly became one of the largest gas consumers on the network.  

In the same month, as the popularity of the “meme coin factory” on Solana waned, network fees fell to a six-month low.

Experts estimate that out of 2 million tokens issued on Pump.fun, only 89 (0.0045%) reached a capitalization of at least $1 million.