📝 Hello everyone, I am 𝟏𝟎, welcome back to the #BlockchainDevelopmentHistory project research series. Today, we will focus on (Boop.fun / BOOP).

During the May Day holiday, the meme coin $BOOP on boop.fun skyrocketed by 309% just one hour after launch, reaching a market value of $500 million, with even Solana co-founder Raj Gokal coming to support. Some praised its creativity while others criticized it as a Web3 Pinduoduo, leading to considerable controversy.

👇👇👇

1. What is Boop.fun

Boop.fun is a memecoin launch platform on Solana, and its goal is very straightforward: to allow everyone to easily issue tokens and make money through community interaction. The founder Dingaling has a notable background, claiming to be the founder of PancakeSwap, although he was later subtly mocked by a big brother for being not very reliable. However, it must be admitted that he knows how to catch trends; when Uniswap became popular, he created PancakeSwap, and when Opensea became popular, he copied LooksRare. Now that memecoins are gaining popularity on Solana, he has created Boop.fun, which is similar to Pump.fun.

2. The upgraded version of Pump.fun

Compared to Pump.fun, the core difference of Boop.fun lies in how to share the cake:

1. Pump.fun: Earn fees, users issue tokens, the platform takes a cut, retail investors purely gamble;

2. Boop.fun: Issuing tokens means rewards, staking means dividends, binding creators, holders, and stakers with the native token $BOOP, and also promising that half of the platform's earnings will be shared with everyone.

It wants to do one thing: stop running a casino, and let everyone make money together. It sounds like it aims for common prosperity, but can it really be achieved? It depends on how it plays out and whether the community buys into it.

3. BOOP Token Economic Model

$BOOP is the core governance token of the Boop.fun platform, with the following key functions:

1. Governance Rights: Users holding $BOOP can participate in major platform decisions, such as rule adjustments and mechanism upgrades.

2. Revenue Distribution: Staking 100 $BOOP can earn: 60% of trading fee revenue from graduated tokens; 5% of the initial supply airdrop of newly graduated tokens.

3. Token Distribution Method: The platform adopts a community-friendly distribution mechanism, with 50% allocated to token creators; 50% allocated to token purchasers (referred to as cult members).

In addition, the platform uses Kaito AI technology to rate users' Twitter accounts, determining the number and weight of airdrops accordingly.

4. Incentive Mechanism: Boop.fun clearly states that VCs and internal personnel can take a backseat, expressing a commitment to return value to real users and the community.


4. Core Mechanism Design

1. Token Graduation System

Boop.fun has introduced a graduation mechanism; tokens must meet certain standards to gain full support from the platform:

● Market Value Requirement: Must reach specific stage market values (e.g., $1 million, $5 million, etc.);

● Trading Activity: The trading volume of the token must reach a set threshold;

● Community Engagement: The platform will assess the interaction and activity levels of token-related communities.

2. Community-driven ecological development model

Boop.fun encourages users to participate deeply, promoting the development of token projects:

● Airdrop Unlock Mechanism: Airdrops are not distributed all at once but are gradually unlocked. Tokens must reach a market value of $5 million to fully release the airdrop.

● One-click token issuance feature: Users only need to send a message to Boop's bot on Twitter to quickly create their own token, significantly lowering the barrier for issuing tokens.

5. Market Performance and Ecological Overview

The Boop.fun ecosystem has currently seen the emergence of several popular projects:

1. Tokens with a market value exceeding one million dollars: such as dog-themed Boopa, Kuma, and beaver-themed Beevo.

2. Notable Creators Joining: Including former Pudgy Penguins founder Cole Villemain, crypto influencers Irene Zhao, Orangie, Deez, etc., all of whom have issued their own tokens on the platform.

3. Controversial Project: Su Zhu, co-founder of Three Arrows Capital, once launched the ZHU token on the platform, with a market value of around $75,000, which sparked considerable discussion.

#Boop #Web3 #KAITO @kaitoai @boopdotfun @Kaito