Binance Smart Chain-based decentralized exchange PancakeSwap has announced the launch of its meme coin launchpad SpringBoard. According to details, the new development will allow users to create meme coins regardless of their background in coding. Although the Binance Smart Chain boasts a wide range of meme coins, it will offer the same experience as the Solana-based platform pump.fun.
Before now, PancakeSwap was a bootstrap for new tokens, with Binance Smart Chain being the home of new meme coins. Now, PancakeSwap will become home to these memes, following in the same pump.fun model. The new feature users can deploy to create tokens will be PancakeSwap SpringBoard, letting them create without needing a coding experience. The platform will build liquidity pairs with CAKE and feature a zero-fee token.
PancakeSwap’s SpringBoard to adopt the zero-fee model
The new SpringBoard platform already has its liquidity in BNB, boasting about 10 assets. The platform’s launch Zane just before BNB hit a new all-time high of $780, flipping Solana to move into the top five in terms of market cap. The platform’s leading token is Cava, which already did a 362k% increase while boasting a market cap of 116k. Other tokens experienced the same drastic growth.
Meanwhile, the new platform will adopt the same model as pump.fun. This means token generation is free and tokens will undergo the same bonding curve stage as on pump.fun. Once it hits the required liquidity threshold, the token will automatically move to PancakeSwap, opening it up for trading. In addition, creators can raise liquidity in other assets like BNB or USDT.
However, the announcement also included a seeding fee that will accumulate based on the token’s liquidity. If a token moves to PancakeSwap, the platform will charge 2% on its liquidity, with 50% going to SpringBoard. Tokens will be automatically moved if their market cap hits 24 BNB. PancakeSwap added that it will not endorse or market any of the tokens while noting that restrictions will be put on users from mainland China and the US.
Binance Smart Chain cements itself as a hub for DeFi activity
Binance Smart Chain has been packing up real numbers in the meme coin space, rivaling big entities like Base. The chain exerts itself in the space with the addition of one of the biggest tokens Simon’s Cat, coupled with other Ethereum and Solana tokens. The new development is also coming after XRPL posted its self-created token platform, albeit with lesser liquidity.
In SpringBoard’s case, the liquidity is higher because users on Binance are better traders and skilled at sniping. Presently, the new tokens are without brands, as users are still trying their hands on the platform. PancakeSwap’s activity is also climbing, trying to reach Raydium numbers in locked value. It boats $2.1m in liquidity pairs, compared to Raydium’s $2.3m. However, PancakeSwap’s growth is organic, compared to Raydium’s token-fuelled surge.
PancakeSwap is also regarded as a DeFi hub, accumulating a lot of liquidity trading pairs that will be added to the new list of volatile assets. PancakeSwap carries CAKE and BNB pairs, with the market responsible for 50% of its volume. However, it could push higher with the addition of new tokens in the future.