Memecoins aren’t going away despite what you hear. The ability to tokenise attention is not a genie that can be put back into the bottle.
Creator coins offer a personalised alternative to non-staked SOL. So much of a memecoin’s liquidity normally sits in a non-productive asset which is SOL side of the LP. SOL an asset which has no direct connection with the memecoin on the other side of that pair.
Adding someone else’s LST (e.g., jitoSOL) doesn’t help either as that’s also an asset that has no direct connection to the memecoin.
But at the same time there’s little reason for a memecoin project to create a creator coin as it dilutes the existing token.
Unless you can find a way to pair these two community assets, memecoin and creator coin, in a logical way.
There’s a product on Hydration (Polkadot parachain) that’s called Yield DCA.
It’s what you expect: Take yield from an LST and DCA it into some other token.
I’d love to see this offered as a creator coin preset and see if we can onboard a bunch of memecoin projects to the creator coins.
Let’s take FWOG as an example:
- Stake SOL into the fwogSOL
- Weekly/monthly yield is used to buy FWOG which can be collected from the Sanctum fwogSOL page OR you can collect your FWOG at anytime from the fwogSOL page and the act of doing so swaps the SOL sitting there into FWOG.
- The FWOG team can also set up fwogSOL / FWOG LPs themselves to further expand fwogSOL usage and claim back more of the ownership in their LPs.