Title: Meme Integration in SaucerSwap / AREA 51 PUMP
Author(s): Chris V
SaucerSwap Voting Interface: na
Related Discussions: na
Submission Date: August 20th, 2024
Summary:
I propose that SaucerSwap implements a section dedicated to creating and promoting meme projects within the DEX, similar to what has been done by Pump.Fun.
Abstract:
The meme niche has proven to be an effective engine for attracting mass users and increasing TVL across various chains. This proposal suggests creating a platform within SaucerSwap that facilitates the easy integration and launch of low-liquidity meme tokens, leveraging widespread interest and active participation from the crypto community. Example (AREA 51 PUMP)
Motivation:
The recent success of Pump.Fun on Solana demonstrates that memes can significantly boost the TVL of a network and attract thousands of users. Implementing something similar within SaucerSwap could attract a steady flow of new users and projects to Hedera, increasing its relevance and competitiveness in the DeFi space.
Specification & Justification:
The proposal includes creating a section within the DEX specifically for meme tokens. This would not only facilitate the entry of new projects but also incentivize activity within the network, generating a positive cycle of adoption and liquidity. The inclusion of a meme section will enhance the DEXâs utility and capture a significant market niche. Although some projects may be of low quality, the opportunity to generate additional revenue and increase TVL justifies this initiative for SaucerSwap. Sauce will provide the necessary technology, while users will decide how to utilize it. Creating memes on Hedera through SaucerSwap will attract new users and strengthen the DEXâs economy.
Benefits (Pros):
Increased TVL and adoption of the Hedera network.
Attraction of new users and projects to the ecosystem.
Higher activity and liquidity on SaucerSwap.
Potential for additional revenue through AREA 51 PUMP
New utilities for the SAUCE token and its appreciation.
Drawbacks (Cons):
Potential increase in low-quality projects.
Risk of market saturation with low-utility tokens.
Voting:
Option 1: Implement the meme section in SaucerSwap.
Iâm not active in the meme coin scene but this is an interesting idea. I support this with conditions such as efforts made to minimize rugs, etc. if that is possible.
Unfortunately thats part of the game in a decentralised exchange. Controlling would lead to centralisation, and that defeats the purpose of a DEX and would restrict adoption and tvl and volume. If people want to dabble it is at their own risk.
Thats fair. Like I said, I donât dabble, so it wonât affect me but maybe not restrict tokens but instead provide some info on the tokens similar to what can be seen on dexscreener?
This will take us to the next level in terms of volume, usability, TVL, fees, and much more. The advantages outweigh the risks, and according to the Kabila team, itâs easy to implement. If this is successfully executed, SaucerSwap will explode. Although Iâm not a fan of memes, itâs undeniable that they represent a significant niche in this sector with a large user base. Many people arenât interested in tokenomics, supply, inflation, roadmaps, technology, or how innovative a project is; they just enjoy the chaos of memes. If SaucerSwap gets ahead of this, it could be a goldmine in this race on Hedera. Just compare what happened recently on Tron with SoundPumpâthe revenue metrics for the SoundSwap DEX were off the charts , in just 7 days
Thank you, this is the first time Iâm proposing something in governance, and I wasnât sure where to place it. Please discuss it in the âOff Topicâ section.
Seems like a good idea to me. I donât think you can prevent the risk of rugs of course, but it could draw users into our defi ecosystem which would be good overall.
could also be incorporated A key and fully effective utility is that all the revenue generated on the ĂREA 51 PUMP platform by Saucerswap will be used to buy back the Sauce token.
The growth in revenue and TVL that Tron, BSC, and Solana are seeing due to memes is impressive. However, thereâs a problem: changes on the SaucerSwap website havenât gone through governance. I know for a fact that the Sauce team is keeping an eye on this thread, the news, and the potential changes. This could have a significant impact on our DEX, but itâs just an idea. If we make more noise here, the team will consider it and might implement it. Looking at the revenue and TVL metrics, thereâs not much to think about. Come on, Sauce team, your community is begging for this step forward!
This proposal was presented a few days ago and is currently being discussed in the @SaucerSwapLabs governance forum. If we have broad community support and make enough noise, the team might proceed with its implementation. At the moment, no voting is taking place since this implementation is not directly subject to @SaucerSwapLabs user governance but is rather a team decision. However, I know for a fact that the team is closely following this issue. If we garner significant community support and strong demand for this change, SaucerSwap will adopt this new business model and implement it in the system. This would be a significant boost for both $Sauce and @hedera
