SushiSwap, a prominent decentralized exchange (DEX) active across multiple blockchains, has unveiled a new meme coin launchpad called Dojo on Monday, 2 Sept 2024.
Created in collaboration with Goat Trading, this platform seeks to address the challenges of market saturation in the meme coin sector, offering distinct features that set it apart from its rivals.
Dojo’s launch comes at a time when meme coin platforms like Pump.fun and Tron’s SunPump are experiencing rapid growth but also facing criticism due to market saturation and the rise of scam tokens. For instance, recent data indicated that of the roughly 2 million meme coins launched on Pump.fun, only a small percentage achieved long-term market success
Dojo’s Distinctive Features:
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Eliminating Slippage in Selling:
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Narrow-Range Liquidity on Sushi V3: Dojo leverages Sushi V3’s narrow-range liquidity to enable users to sell tokens without triggering price drops. Rather than dumping tokens on the open market, users provide liquidity that sells gradually as prices rise, reducing the likelihood of significant price declines.
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Preventing Large Price Drops: This mechanism allows whales, snipers, and teams to sell their tokens without causing substantial volatility in the market.
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Increased Initial Market Cap:
- $15,000 Starting Market Cap: Dojo establishes a higher initial market cap of $15,000 for new tokens, compared to the standard $5,000 on other platforms. This higher entry point makes it more difficult and costly for bots and snipers to manipulate the market, discouraging aggressive trading tactics.
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Base Chain Operation:
- Enhanced Bot Protection: By operating on the Base chain, Dojo provides additional defenses against bot-driven manipulation, a common problem on other networks.
Impact on the Market: The introduction of Dojo has positively influenced the price of SushiSwap’s token, with a reported 7.34% increase in the past 24 hours, bringing the price to $0.5732.
I personally appreciate their atempt to provide a more controlled and stable environment for launching and trading meme coins, as pump and dump occurs more often than it should in the memecoin world.
Source :https://beincrypto.com/sushiswap-meme-coin-launchpad-market-woes/?utm_source=CryptoNews&utm_medium=app Show Less
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