The current development status of MEME coin in the virtual space.

Since the launch of the Genesis Launches platform by Virtual, there have been some projects launched on it that appear questionable at first glance, but there are not many projects that openly promote meme coins; even if there are, they are projects that seem unremarkable at first glance.

Until a few days ago, this phenomenon was broken --- a well-known AI Agent Vader that had been collaborating with the launch platform began to directly issue its created meme coin VIRGEN on it.

The special thing about this meme coin is that it is a well-known team publicly issued clear meme coin.

Although it is a meme coin, it has particularly demonstrated a friendly approach to the community in terms of its issuance mechanism: apart from a portion allocated for the presale and a part for liquidity, a considerable amount has been set aside for users staking in the Virtual ecosystem and some users holding classic meme coins for airdrops.

Apart from a special issuance mechanism, this token has one point of difference from other presale tokens: it has no lock-up period. This means that if the sale is successful, there will be a high premium at the moment the token goes live, and users who participated in the sale can sell off their profits immediately without any constraints—this is an operation that many participants have long dreamed of.

This has led many users to speculate whether the token will immediately plummet after the sale.

Despite various speculations and concerns, a considerable number of users still participated in the sale, and the sale was successful.

Surprisingly, after the token was launched, there was no crash that everyone was worried about; instead, it continued to rise steadily.

In terms of the team, in addition to the airdrop announced during the presale, airdrops were also distributed to users who participated in the token presale and did not sell their tokens. Subsequently, they continued to use the profits gained in the market for token buybacks.

After this operation, this token immediately established its unique image, becoming the well-deserved first meme coin in the Virtual ecosystem.

After the success of the meme coin, a new meme coin called NOTHING has emerged in the ecosystem. However, this meme coin is not just a meme; its team has also given it a very direct use: to "permanently" lock the tokens, allowing participants who stake it to continuously earn points from the platform's sales "permanently".

NOTHING has also been successfully launched, and two additional airdrops have been conducted, exceeding previous expectations for this token.

The reason these two meme coins were successfully launched amidst the current meme frenzy, in my opinion, is partly due to their generous operations in terms of mechanism; on the other hand, it is also because the actions of the team behind them are clearly different from most meme coins that are solely focused on making profits.

! jk0WGniVdGElijLxG6ag6L2oJD2iWbybDYbJtPBP.png

However, such operations are difficult to replicate, and such teams are also hard to come by.

Therefore, after these two successful cases, I was thinking: Genesis Launches is after all a permissionless launch platform, where anyone can launch projects. These two successful cases will surely attract a group of projects of varying quality, disrupting the ecological atmosphere and creating a situation where "a single mouse droppings spoils a pot of porridge."

If that's the case, then doesn't this platform become a pump.fun?

If Virtual becomes the second pump.fun, it is unlikely to go far.

To change this situation, the easiest way is for the team to directly intervene and modify the rules, using additional constraint mechanisms to limit such projects. However, if this is not handled properly, it can easily lead the team to overreach, trying to control everything, ultimately stifling all aspects and causing the platform to lose its vitality completely.

The best approach is still to allow projects (including those of varying quality) to issue without permission, but to let the market mechanism itself eliminate inferior projects. If the Virtual ecosystem can form such a healthy market mechanism, it can create its unique culture and atmosphere, and further strengthen this mechanism and atmosphere into a strong moat.

To form such a mechanism and atmosphere, the key ultimately lies in having a group of high-quality participants who can consciously reject poor projects through their actions.

Therefore, I have been paying close attention to the projects that will be launched next.

Indeed, several uninspired and purely empty meme coins were issued on the platform afterwards. The first one was successfully sold, but the price plummeted after the token went live. The subsequent ones were directly relegated to obscurity by the market.

Seeing this situation, I feel a little more at ease.

I hope this atmosphere and mechanism can continue, allowing Virtual to form a platform that is entirely different from pump.fun.