Discussion: Meme-Funding

Hey! It’s Loot again, lets talk about MEMES!!!

I’m concerned about the overall cost of WG and project proposals in the ecosystem. If you haven’t realized yet, you soon will, that I’m a huge fan of Future Proofing.
I am presenting this as an alternative funding method, but really hope it can see universal adoption within the ecosystem.

MEME-FUNDING
What do we know about meme coins? We know they are insanely lucrative…assuming you get in early, and you don’t get dumped on by devs, and of course it isn’t a scam. Meme coins are the hottest thing around and trading them is like walking through a minefield…blind. It’s not a matter of IF you get scammed, it’s when. When a meme coin on Solana starts dumping…it’s very likely it’s gonna dump to zero. It’s degen, it’s dangerous and it’s insanely addictive for those who have the risk tolerance.
What i propose is a weekly contest for the best meme coin. The community launches that coin with a few things that will soon be known by all who trade memes…it’s us…So they will know it’s not a scam. We will make the tokenomics real simple…75% LP 5% (in value) to the contest winners, and 20% to fund our projects in the ecosystem.
So instead of extracting our liquidity in straight sells, we bot up and give them say 10 SOL along with their allocation to liquidate.
The bots would then ‘Trade Out’ buying and selling only on each sell, they sell a small portion of their allocation. We can design our system to do things like not sell during downtrends and no large sell offs.
The idea is that we are creating as healthy a trading environment as we can manage. No predatory devs selling off, No pre-sales or whitelists or influencer corruption.
We do a stealth launch each week, the community votes on the day/time (so not a state secret, but not broadcast until after launch) and then we do a full liquidity launch…maybe Meteora first with their new anti bot measures…and then an hour later LP on Raydium and Orca and then ads…the knowledge that this launch is a Jupiter launch and that there will be no shenanigans will probably be enough to bring degens back from Base lol.
So we ‘trade out’ our 25% over a couple days and then let the thing live or die as any meme coin will. pass 5% of the net proceeds as a SOL airdrop to the contest winners…and then do it again. Each and every week.

Conclusion:
We’ve seen a few LFG introductions from meme coins. What we haven’t seen yet is a project that does nothing but launch meme coins. WE can become that project lol, and instead of the liquidity being extracted by either scammers or bad actors, we would be extracting the value, and then keeping in the ecosystem. We don’t do anything special…just not be scammers, provide good liquidity and avoid dev sell cliffs. I believe that these actions along with a standard stealth launch will provide significant value to the meme community, the Solana ecosystem and the JUPDAO. The community can then self-fund projects. Or the funds can be given back to the DAO to offset community costs.

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As much as I hate this idea, it’s not terrible and might have some use case… one memecoin/week is far too much though and I’m not sure this is what we want from a community standpoint. I would much rather be known for launchpadding the best friggin’ projects, hands down, and drawing a ton of use into Solana/Jupiter ecosystem because of it.

When it comes to building something like we are, the best dang DAO in the universe (LFG!), you need to garner trust. While memecoins can be lucrative, normies don’t trust them. You want to garner support from the OG’s AND normies to eat up as much market share as you can from everyone else (Jupiter is the biggest planet after all).

But at the same time creating our own income stream would also be nice, but I’m sure there are other ways to do this… TL;DR… interesting proposal, could probably potentially technically hypothetically work, but is it really what we want to build our community around?

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Thanks for the response!
I would like to clarify though, that this is not a proposal, just a discussion topic. And while i personally love meme coins, my primary goal is to stimulate discussion about alternative funding methods.
I would like to point out though, that all those (legitimate) objections you posted are the reason for my idea. The class does have a tainted reputation. it really is like playing Russian Roulette. There are scammers and bad actors everywhere.
We could be good actors on the stage. a place to degen where you only have to deal with standard crypto risks.
An clear and certified ‘Safe’ place to interact with risky financial products.

If I can be honest, this is a bad idea. Memes are the worst thing that could happen to the crypto space (in my opinion, of course). On X you may see a few people who have made good money off of meme, but you don’t see the thousands of people who have lost money. People who buy memes are often people who have no idea how the market works and it ends tragically for them. I think Jupiter doesn’t want to be associated with releasing memes, but with solid projects. If you publish 1 meme a week (52 per year) and let them live or die, it will end badly, e.g. loss of reputation or, even worse, loss of trust. Jupiter should be associated with adding value, not a meme factory.

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Well i certainly wouldn’t want any of those negative consequences lol…I personally think that FTX ranks a bit higher on the evil scale than cute dogs, but that’s just me.
I appreciate the response though, and as of now, it looks like roughly 100% of respondents think this is a shit idea…and the sheer lack of interest speaks loudly as any critical posts.

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With the trend of meme coins on the rise I would like to hear more. How would the memes be implemented and how would we prevent rug pulls? I personally have made a lot of money on Solana meme’s but with that being said I am a moderator for crypto banter and I do not look at them as investments. They are simply trades and I am in and out of logically. If we could provide education on how to buy them that may be a start. Just my opinion.

Hey! Thanks for responding! I’m a fan of banter bubbles…and moderators so glad to have you! I see this is your first time posting, it’s always good to see new engagement.
So implementation and risk management. If this ever went to a proposal, i guess i would design it in as WG “MFWG” acronyms are fun…

WG Composition:

  • We would recruit community members with the requisite knowledge for launching tokens on Solana
  • We would need community builders for the non-JUP community. You know, telegram/Twitter/Website (but with JUP branding)
  • We’d use multisig wallets to fund the LP…all steps fully transparent to the community.

Implementation:

  • ‘Meme Ethos’ posted on our meme socials…and as this will be a fully funded and accountable Work Group, the built in accountability and transparency would/should create a level of trust for our meme that there will never be any of those shady tactics the unwary get scammed by.
  • Stealth launches once a week. as our community would know the launch time, all interested community members would be able to get in at a good price…presumably lol, that could (NFA/DYOR) build a very strong community floor.
  • Meme contest. well we are plugged in all over the interwebs…set a really good reward for the winning teams, maybe create a Discord channel for members to get together and create teams for the contest. Do a vote and the WG would then get to work.
  • Extracted value…well we could fund a meme coin education series. build partnerships with aligned influencers. Lots of things we could do to benefit the meme community

LOL we could set up a rug fund where any poor bastard that gets rugged can connect their wallets to our site and get a (RUG) airdrop equivalent to the total tokens lost to them. We fund the LP and give all those victims a free second chance…guaranteed rug freeeeee!
There are so many fun and helpful ways an imaginative community could roll something like this.
While there is a dark side to everything, and this is crypto AND meme coins on top of that…there will always be the risk of getting your face melted…having said that, memes can be fun and engaging, and very lucrative with the proper risk management in place.
When Retail shows up in force, i believe meme coins will be the Pied Piper leading them to Solana lol…i say we learn to play the flute.

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