Memecoin Launchpad GraFun Starts Labs Division to Boost Ecosystem on BNB Chain

Partners include trading firm DWF Labs and the Floki, BNB Chain's largest memecoin by market capitalization.

Web3 infrastructure provider GraFun has announced the launch of GraFun Labs, a new initiative aimed at supporting and bolstering the memecoin ecosystem on BNB Chain.

According to a press release shared with CoinDesk on Friday, GraFun Labs will collaborate with trading firm DWF Labs and Floki, BNB Chain's largest memecoin by market capitalization, to support smaller memecoin projects in areas including community growth, brand, marketing, engagement and influencer marketing.

“Memecoins have become a central crypto market driver, dictating much of the on-chain volume and shaping the culture integral to crypto’s identity,” a representative for GraFun told CoinDesk in a Telegram message. “Establishing GraFun Labs will enable the next wave of memecoin projects to realize their full potential.”

CoinDesk

GraFun Labs will also host a Growth Program, with memecoin projects with a "strong narrative and unique approach" encouraged to apply through GraFun Labs' online submission form, the team member added.

GraFun went live on BNB Chain in September with a "Fair Curve" mechanism for issuing new memecoins, which its developers say minimizes rug-pull risks, reduces price manipulation and results in fewer users losing money. It recorded over $250 million in trading volume in its first 24 hours on PancakeSwap.

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