Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

PancakeSwap introduces SpringBoard, its own meme token launch platform

Source Cryptopolitan

PancakeSwap, the main decentralized exchange on Binance Smart Chain, will launch its own meme token launchpad, SpringBoard. Memes are already present on Binance Smart Chain, but the new platform will offer a code-free experience similar to Pump.fun.

Until recently, PancakeSwap was a tool to bootstrap new tokens, and Binance Smart Chain was used for multiple high-profile memes. Now, PancakeSwap will carry its native platform for meme tokens, following the model of Pump.fun.

The new platform, however, will allow anyone to create tokens without any coding experience. The new tool will be called PancakeSwap SpringBoard and will feature zero-fee tokens. The platform will use the CAKE token for building liquidity pairs.

1/5🐰Introducing PancakeSwap SpringBoard: The all-in-one platform to create and launch your project’s token on @bnbchain PancakeSwap

⚡No Coding
💸Zero Launch Fee
🔗Multi-Token Pairings
🧑‍🌾Boost Liquidity with CAKE

👉Create now https://t.co/GTZ2heWbzy

📚More… pic.twitter.com/pmuBcO3xde

— PancakeSwap (@PancakeSwap) December 4, 2024

The platform already has 10 tokens with liquidity in BNB tokens since it launched.

The meme platform was created just as BNB Coin (BNB) began trading at a new all-time high above $780. BNB even flipped Solana to become one of the top 5 tokens based on market capitalization.

SpringBoard has an early leader, with Cava token already accruing $116K in market capitalization. The token appreciated by more than 362K%. Other new assets on the platform saw similar rapid expansions.

SpringBoard follows the Pump.fun zero-fee model

SpringBoard will copy Pump.fun’s model. Each token will be generated for free and will trade in the bonding curve stage. Once the required liquidity is deposited, the pair will move to PancakeSwap. In addition to CAKE, token creators will be able to raise liquidity in BNB or USDT.

The only payment will be the seeding fee, which will accrue based on a token’s available liquidity. Once a meme token graduates to the PancakeSwap DEX, a 2% fee on the liquidity will be levied, leaving 50% of the fee for SpringBoard. Tokens graduate to PancakeSwap after they appreciate to 24 BNB.

Unlike previous launch platforms, PancakeSwap will not market or endorse the new meme tokens. Launch limitations apply to persons based in the USA and mainland China.

Previously, PancakeSwap helped raise liquidity through IDO or direct liquidity farming, also giving exposure to tokenized products. All tokens on SpringBoard must have a supply between 1M, a default of 1B tokens, and no upper limit to their supply. The bonding curve must raise a minimum of $2,000. Before graduating to PancakeSwap, new tokens will trade through the bonding curve, with a 0.001 BNB trading fee.

The new assets will come with a warning of extreme risk and volatility, including rug pulls. SpringBoard will go beyond memes, allowing the creation of community projects and even DeFi tokens. The platform’s main feature is the liquidity setup tools, using the native CAKE token.

CAKE is currently trading at $4.08, still 90% away from its 2021 peak above $40. The token has recovered some of its positions in 2024, but still trades near its lower range. CAKE demand for new liquidity pairs may boost demand for the asset.

Binance Smart Chain is a hub of DeFi activity

Binance Smart Chain is already the third-largest network for memes, competing heavily with Base. The chain carries one of the top meme assets, Simon’s Cat (CAT), in addition to versions of Ethereum and Solana memes.

The announcement of a new meme launchpad arrives after even XRPL tried out user-created tokens, though at much lower liquidity levels.

In the case of SpringBoard, the tokens have much higher liquidity from the start, as Binance Smart Chain users are skilled in token trading and sniping. For now, the new batch of BSC meme tokens do not have a specific brand, or high-profile memes, as the first users are testing out the platform.

PancakeSwap is currently expanding its activity, almost catching up with Raydium in terms of value locked. The DEX carries $2.1B in liquidity pairs, while Raydium has $2.31B. However, for PancakeSwap, those liquidity levels represent a baseline of organic growth, while Raydium has yet to consolidate its new meme token activity.

PancakeSwap has also served as a DeFi hub. It has also accrued a lot of liquid trading pairs which it will add to the new batch of volatile meme assets.

Currently, PancakeSwap predominantly carries CAKE and BNB trading pairs, making up 50% of the volumes. An inflow of new tokens may add to the list of hundreds of legacy projects and memes created until now.

Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Bitcoin falls below $75,000 as the CLARITY Act fails in the Senate — what the vote means for crypto The US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.

Author Suzie

Sep 16, Wed

The US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.

Dollar index tops 100 for the first time since July as the Fed's hawkish dot plot sinks in The U.S. dollar index broke back above 100 for the first time since 31 July after the Fed delivered its first rate hike since 2023, with the dot plot showing 16 of 18 officials expect at least one more increase this year. Here are the levels that matter for DXY, the currencies feeling it most, and what to watch next.

Author Irene Q.

Sep 17, Thu

The U.S. dollar index broke back above 100 for the first time since 31 July after the Fed delivered its first rate hike since 2023, with the dot plot showing 16 of 18 officials expect at least one more increase this year. Here are the levels that matter for DXY, the currencies feeling it most, and what to watch next.

Gold rebounds to near $4,350 on weaker US Dollar, falling oil prices Gold price (XAU/USD) rises to near $4,345 during the early Asian session on Friday. The precious metal rebounds from a six-week low amid falling oil prices and a weaker US Dollar (USD). Traders continue to assess the latest Federal Reserve (Fed) rate hike and policy cues.

Author FXStreet

Sep 18, Fri

Gold price (XAU/USD) rises to near $4,345 during the early Asian session on Friday. The precious metal rebounds from a six-week low amid falling oil prices and a weaker US Dollar (USD). Traders continue to assess the latest Federal Reserve (Fed) rate hike and policy cues.

Gold ends three-week slide at the $4,400 line — eight straight days of ETF inflows vs a 5% 10-year and a 100 dollar Spot gold closed Friday at $4,378.39, up 0.84% on the day and about 0.8% for the week — its first weekly gain in four weeks — with the intraday high of $4,399.67 leaving it 33 cents shy of the $4,400 line. Gold ETFs have now logged eight straight sessions of inflows, but with the 10-year back above 5% and the dollar index near 100, here is what decides whether this is a reversal or a bounce.

Author Suzie

21 hours ago

Spot gold closed Friday at $4,378.39, up 0.84% on the day and about 0.8% for the week — its first weekly gain in four weeks — with the intraday high of $4,399.67 leaving it 33 cents shy of the $4,400 line. Gold ETFs have now logged eight straight sessions of inflows, but with the 10-year back above 5% and the dollar index near 100, here is what decides whether this is a reversal or a bounce.

Bitcoin squeezes back above $80,000 — 110,000 traders liquidated as the hawkish Fed and CLARITY setback fail to hold it down; is $83,000 next?Bitcoin closed above $80,000 on Friday for the first time since September 7, and pushed to $81,299 over the weekend, triggering about $603 million of liquidations — $523 million of them shorts — across more than 110,000 traders. With the Fed's hike already priced and the SEC and CFTC advancing crypto rules after the CLARITY Act failed, here is what stands between BTC and the $83,000 gate.

Author Suzie

20 hours ago

Bitcoin closed above $80,000 on Friday for the first time since September 7, and pushed to $81,299 over the weekend, triggering about $603 million of liquidations — $523 million of them shorts — across more than 110,000 traders. With the Fed's hike already priced and the SEC and CFTC advancing crypto rules after the CLARITY Act failed, here is what stands between BTC and the $83,000 gate.

Popular Symbols