SushiSwap Launches New Meme Coin Platform
Popular DEX SushiSwap has unveiled a new launchpad for meme coins called Dojo, created in collaboration with Goat Trading.
This new platform aims to address concerns about the saturation of the meme coin market. Dojo is designed to solve common issues seen in other launchpads, such as significant post-launch price drops. By integrating with Sushi V3, it uses narrow-range liquidity to minimize slippage, allowing for smoother token sales.
To further protect the market, Dojo sets a higher initial market cap for new tokens at $15,000, up from the typical $5,000. This move is intended to discourage manipulative trading practices and ensure a more stable market environment.
READ MORE: DeFi Protocols Face Significant Fee Drop Amidst Market Shifts
Operating on the Base chain, Dojo incorporates safeguards against automated trading attacks, enhancing overall security.
Data shows similar platforms, like Ethervista on Ethereum, are also active, with significant gas fees recently. Pump.fun, another notable platform, has achieved over $100 million in revenue and launched more than 2 million meme coins since January.
However, the surge in new tokens has led to mixed reactions, with some experts noting that the market’s rapid expansion has resulted in numerous scams and investor losses.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
