The Ecological Purification Path of Permissionless Launch Platforms

Recently, on the Genesis Launches platform, we witnessed an interesting shift in the trend of meme coin issuance. Although there have been quite a few projects of varying quality on the platform, it is relatively rare to see meme coins being issued through direct public offerings.

Recently, the famous AI Agent Vader has broken this phenomenon by directly issuing the meme coin VIRGEN on the platform. The uniqueness of this project lies in the fact that it comes from a well-known team and is an openly recognized meme coin.

It is worth noting that VIRGEN has demonstrated a high level of community friendliness in its issuance mechanism. In addition to the pre-sale and liquidity pool allocation, the team has also set aside a considerable proportion for platform ecosystem stakers and holders of classic meme coins for airdrops. Even more notably, this token does not have a lock-up period, which means that users participating in the pre-sale can trade and profit immediately after the launch, which is the kind of freedom many investors dream of.

Many people speculated that the token would plummet immediately after its sale. However, unexpectedly, despite the concerns, the token not only did not crash after its launch but continued to rise. The team further distributed additional airdrops to loyal holders and used profits to buy back tokens in the market. This series of actions quickly made VIRGEN a veritable meme coin in the ecosystem.

Subsequently, another meme coin called NOTHING also emerged in this ecosystem. Unlike pure meme coins, the NOTHING team designed it with a clear purpose: to "permanently" lock the tokens, allowing staking users to continuously obtain participation points issued by the platform. This project successfully completed its sale and conducted two additional airdrops, performing beyond market expectations.

These two meme coins stand out in the current market-saturated environment, partly because they adopt a generous mechanism design, and partly due to the significant differences between the teams behind them and those of ordinary profit-oriented meme coin projects.

However, such a successful model is difficult to replicate, and responsible teams of this kind are relatively scarce. On permissionless launch platforms, anyone can launch a project, which raises a concern: successful cases may attract a large influx of mixed-quality projects, ultimately harming the ecological environment and turning the platform into another version of pump.fun.

In the face of this situation, the most direct solution is for the platform team to formulate stricter rules to limit low-quality projects. However, this approach can easily go too far and ultimately stifle the platform's vitality. A more ideal way is to maintain an open, permissionless issuance environment while allowing market mechanisms to naturally eliminate low-quality projects, thereby forming a unique ecological culture and moat.

It has been proven that the market does exhibit this self-cleansing ability. After these two successful cases, several uninspired shell meme coin projects attempted to issue on the platform. The first one completed its sale, but the price collapsed rapidly after launch, while the subsequent projects were directly ignored by the market.

Seeing the natural elimination of low-quality projects in the market, we have reason to believe that this healthy ecological mechanism can continue to develop, forming traits and values that are completely different from those of pump.fun. Building a high-quality participant community is the key to the healthy development of the ecosystem, as they can consciously resist bad projects through their actions and maintain the healthy development of the ecological environment.