As Cryptopolitan reported, reflection tokens were one of the new trends that caused a wave of launches. Along with the Robinhood chain, Solana was the main venue for memes reflecting other assets. The recent rise in launches boosted the revenues of the Raydium DEX, as well as the emerging StonkFun launchpad.
Unlike regular memes, the new wave of reflection tokens seeks multiple types of pairings, including tokenized stock, RWA perpetual futures, other tokens, NFTs, and blue-chip crypto assets. This new model was adopted quickly and seems to be entering an even more active stage of user FOMO, automation, and competition.
Additionally, launchpad platforms have built-in revenue sharing. On-chain estimates show StonkFun shares $10,000 for each $1M in trading volume through token burns. Robinhood’s Pons also levies a tax but shares the revenues with token creators.
The new Solana token boom also shows that new traders can emerge with the promise of underlying value, avoiding the worst rug pulls and losses in traditional meme tokens.
Solana platforms get ahead of Robinhood
In the past week, competition heated up between new launchpads, most of them dealing with reflection meme tokens and various ways to pair up assets. The reflection token landscape is shifting all the time, with most of the new launches linked to high-profile equities and their on-chain representation.
For the past two days, StonkFun has surpassed Pons, the native Robinhood launchpad. StonkFun, built on Solana, pairs up memes with high-profile crypto assets like $ZEC or with the most hyped AI narrative stocks. The competition may intensify, as PumpFun also launched its own version of reflection tokens, offering the ‘custom pairs‘ option.
While data lags, the recent gains may be due to new launches. StonkFun also carries high-profile memes like $STONK (reflecting SPCX) and ZCAT (reflecting $ZEC), which are also the most liquid and among the day’s top gainers.
$STONK rallied to $0.22, boosted by the overall performance of StonkFun, tracking the general trend of reflection tokens. The token also rallied after StonkFun announced it would distribute dividends to any token holder in its ecosystem.
The expansion of new launches also tracks the increasing representation of real-world assets (RWA) on Solana. Recently, Sunrise added more than 20 new tokenized stocks. The recent rush to build new launchpads and issue tokens is seen as a signal for an RWA supercycle.
Until recently, RWAs were mostly experimental and traded with low liquidity. Integrating stocks into DeFi, trading in the trenches, and automated token trading may boost liquidity and discover new use cases.
The new launchpads remain unregulated, and any connections with stock or asset ownership can vary from project to project. For now, most of the growth is based on a mix of FOMO and demand for passive income, as well as exposure to existing on-chain RWA.
Meteora boosts token launches on Solana
Some of the new Solana launches may be tied to the Meteora platform. Meteora allowed the creation of pairs between any two Solana assets.
The DEX allows for any token to be traded against other assets, creating a new source of liquidity, instead of only relying on USDC and other stablecoins.
Meteora’s offer has already drawn in Perpspad for new trading pairs, where new tokens reflect RWA perpetual futures positions.
Meteora is also one of the largest liquidity pools on Solana and may be adopted as the venue for the next wave of RWA-backed meme launches.
