DEX Screener launches 'Moonshot,' its new meme coin launchpad -

DEX Screener launches ‘Moonshot,’ its new meme coin launchpad

Jun 24, 2024Jeremy ParkinsonCryptocurrency, No picture0

Token data aggregator DEX Screener launched its Solana-based token launch platform called Moonshot on Monday. The launchpad is similar to Pump.fun, where users create their own tokens with a 1 billion supply, and a liquidity pool is deployed on the decentralized exchange Raydium after investors allocate 500 SOL.

Since the token is launched using Moonshot’s infrastructure, DEX Screener guarantees that the contracts are fully audited and without insider activity. Additionally, after the 500 SOL cap is reached and the pool is deployed on Raydium, a total of 150 million to 200 million from the token supply is burned, and liquidity is locked in the contract after that.

Image: Moonshot

Notably, 333 tokens have been created on Moonshot since its launch, with 27 of them being launched on Raydium after reaching the cap on Moonshot. Of all the tokens getting their liquidity pools, only five of them have shown positive movements in the last hour: Pepe (PEPE), Stan (STAN), Long Horse (LONGHORSE), Dex Mascot (EAGLE), and Moon Cat (MC).DEX Screener hasn’t released an official launch statement at the time of writing. The “Solana meme coins” sector is showing the third worst performance in crypto for the past seven days, according to data aggregator CoinGecko, amounting to nearly 30% drawdown.