Moonshot enables users to buy and sell Solana memecoins on iOS via Apple Pay, simplifying access and onboarding for crypto newcomers
Moonshot Create has been introduced by Moonshot, which enables users to create new meme currencies in three simple steps using Apple Pay.
On June 27, the platform implemented Apple Pay support and expanded its capabilities beyond trading to encompass token creation, necessitating only image submissions and payment processing.
Users can generate Solana-based tokens by uploading a meme image, selecting the Create tab, and using Apple Pay to cover network establishment costs.
The simplified workflow eliminates technical barriers that previously necessitated cryptocurrency or wallet management knowledge.
The Moonshot fee structure encourages creator participation.
Until the token reaches “bonding” status, which is achieved by securing its supply to an on-chain liquidity curve, each newly created token is subject to a 0.5% transaction fee.
Creators can earn up to 50% of all exchange fees generated by their token’s trading pool as post-bonding fees decrease to 0.3%.
Tokens that complete the bonding procedure and achieve a fully diluted valuation of $1 million are granted preferred verification status. Tokens verified are featured on the front page of Moonshot’s application.
The verification system generates growth incentives by ensuring verified coins are conspicuously displayed in the discovery tab. Moonshot has not disclosed the precise revenue distribution between the platform and verified creators beyond the 50% limit.
Pump.fun responds with mobile updates.
Competing meme coin launchpad, on the same day as Moonshot’s launch, Pump.fun disclosed enhancements to its mobile application.
The new features include a news section that emphasizes trending meme currencies, one-button purchasing options for supported tokens, and a feed that tracks rapidly increasing token prices.
The simultaneous product releases suggest that the meme coin creation space is becoming increasingly competitive as platforms endeavor to capture market share by improving the user experience and reducing friction.
In recent weeks, both platforms implemented their updates amid a decrease in the popularity of meme currencies. Investors have shifted their focus to other cryptocurrency sectors, resulting in declining trading volumes and new token launches as market conditions remain volatile.
Integrating Apple Pay eliminates a significant obstacle for users unfamiliar with DeFi tools or wallets.
Nevertheless, the development of meme coins necessitates a comprehensive understanding of market trends and promotional strategies to generate substantial trading volume.