GasPump
GasPump is the first memecoin launchpad on TON forked from the popular memepad on Solana, pump.fun. The platform is a Telegram mini app that allows anyone to create Jettons on TON in less than two minutes for a fee of 0.3 Toncoin.
Memecoins are cryptocurrencies created based on internet trends. They are named after individuals, animals, events, or other narratives, and are influenced by hype and promoted by the community that follows them. They are mostly without a specific utility.
History
GasPump was launched on June 5th, 2024 to allow users easily create and trade memecoins on Ton, similar to the memepad Pump.fun on Solana. The platform immediately became successful, achieving more than $1m in trading volume, 50,000 traders, and 2,000+ tokens created during its first week.
On November 15, GasPump received a $500,000 grant from TON Foundation’s TON Memelandia grant program. The $5M grant program is designed to support memepads to create a sustaining memecoin ecosystem on the blockchain network.
As an early pioneer memepad on TON, GasPump also introduced the audio token format, a form of Jetton that is embedded with an audio file in its bio, creating a new narrative for meme tokens.
On December 9, GasPump announced a new incentive for token creators, allocating 70% of trading fees accrued from their tokens after listing on DeDust. This promotes the sustainability of memetokens, as most of them are rugpulled before getting listed on DEXs.
The team of five actively develops the platform to make memecoin trading and research accessible.
Features
The GasPump memepad has distinct features that highlight the creativity of the platform’s creators.
- Automated token verification on Tonkeeper, and Tonviewer, and whitelisted on DeDust by GasPump. The token creator usually does this process manually.
- TONRaffles lock – GasPump integrated TONRaffles API into the app to show when a token holder locks their supply. This makes research easier and helps token creators gain community trust faster. On traditional memepads, token creators have to make announcements on their social pages to notify the community when they lock their tokens.
- Extensive transaction history – The platform shows every transaction performed on a token’s page from the initial deployment to listing on DeDust.
- Pending transactions – Transactions that have been submitted and not yet executed are displayed on the Transaction history of a token. This feature can help users to avoid slippage from large volume transactions and see the general trend of a token which can be useful for research.
- Community notes – A message board for a token where any GasPump user can post notes. If the community finds the note useful, they can like it (thumbs up) to make it more visible. The community can also dislike (downvote) notes that are not useful or spammy to bury it. The most liked notes are displayed first. The token creator cannot write on the community note of their token and each user can only write a note once to avoid spam.
- Profile following – GasPump allows users to follow other users and sends them alerts whenever these users make transactions. Users can use this feature to track traders with high trading volume and reputable devs, which can help when making research on tokens to buy.
- Dextools chart – Tokens listed on DeDust are automatically integrated with Dextools, providing users with real-time analysis for research.
- Comments – comments allows users to write texts on their buys or sells that is displayed in the transaction history of a token. Comments are a quick means of communicating with the community.
- Sticker pack – GasPump automatically generates a sticker pack for every token created on the platform. Users receive these stickers from the bot when they buy the token for the first time. The stickers can be used in public groups to grow the token's community.
- Slippage – Traders can enable or disable slippage for their trades. Slippage allows a user to set the maximum price difference for the platform to execute their trade. It is used to hedge against large volume transactions. With a slippage of 10%, the trade order will only execute if the price does not change more than 10% from the value the order was submitted.
Creating Memecoins
To create a token, the user provides necessary metadata –an image, a name, and a ticker for the Jetton– and proceeds to pay a service fee of 0.3 Toncoin to the platform to create the token. Additional information such as social pages (Telegram channel, chat group, twitter page, and website link), audio files and a description of the token can also be included by the user. This helps to create a better narration for the token and build community trust.
If a user forgets to add their social page during token creation, GasPump also allows them to do this later. However, this feature is exclusive to the token creator.
After the token metadata is filled and fees paid, 1 billion tokens are minted and immediately become available for trading on the platform using a bonding curve algorithm. The bonding curve is a smart contract used in a simulated market that automatically adjusts the price of a token according to its available supply.
The dev wallet (token creator) is allowed to purchase the token first, and at the lowest price, this is their advantage over other traders.
Trading Memecoins
Tokens created on GasPump are not immediately deployed to the blockchain, a wrapped version of the token is virtually traded on the platform using the bonding curve algorithm. After the token collects 1,000 Toncoin, the contract for the token is then deployed to the blockchain and the liquidity (locked supply) is sent to DeDust. Traders on the GasPump platform can then exchange the wrapped tokens for the original token listed on DeDust.
To begin trading on the platform, users can find tokens to buy displayed on the GasPump homepage, from the community pages of tokens, or by searching using a contract address.
The user then swaps an amount of Toncoin for the equivalent value of the desired token. After the contract is executed and the token is deposited to the user’s wallet, they can exchange the token for its equivalent value in Toncoin anytime they want, either in profits or loss.
Tokens that have not been bonded and listed on DeDust can only be traded on the GasPump platform and other supporting memepads. However, tokens listed on DeDust can be traded on the platform and DEXes.
Gas XP
Gas XPs are points users accumulate to be eligible for the token distribution of the GasPump token, which the platform plans to launch. Users can claim Gas XP points by performing these activities on the platform:
- Buying memecoins – the user gets 100 Gas XP for every purchase made.
- Referrals – the user gets 3,000 Gas XP for every referral, and an extra 7,000 Gas XP if the user trades on the platform.
- Creating memecoins – users get 100,000 Gas XP if they create a memecoin with trades from fifty different wallets. There is no limit to this incentive reward.
After the token generation event of the governing token for GasPump, a percentage is allocated for distribution to users. The Gas XP will be used to determine the allocation of each user.
Audio Tokens
On October 11, GasPump announced the audio token, a form of jetton embedded with an audio file in its biodata. The audio token format is entirely new to the blockchain ecosystem, allowing users to upload personal recordings, sound, music clips, and popular phrases in audio format of up to 10 seconds in length. Currently exclusive to the memecoin ecosystem, the DYOR.io blog highlights the innovative breakthrough this new jetton format offers.
Major platforms such as Coingecko, DEXTools, DYOR.io and DeDust have integrated this token format on their platforms already. This allows anybody to play token sounds directly on supported platforms and not just the GasPump platform.
An audio test token can be played here.
Memecoin Research
Memecoins are highly volatile assets influenced by hypes and trends. This presents an opportunity for traders to make impressive gains or lose everything on a single token. They also provide opportunities for scammers to exploit trends and inexperienced traders through schemes such as rugpools, honeypots, and token dumps.
The fairlaunch model on the GasPump platform prevents users from employing some of these scam exploits, however, without proper research, traders are exposed to higher risks of losing their investments on memecoins.
Here are some simple research tips to filter likely scam tokens and reduce the risk of liquidation in memecoin trading:
- Check the dev wallet to see if they have a bad history. Creators can always create new wallets for new tokens, but sometimes they don’t. Wallets with a good reputation are less likely to create scam tokens.
- Preferably, the dev wallet should not hold more than 10% of the total supply. However, a creator can still buy more than 10% supply and distribute it to other wallets. Users should also track the wallets on-chain transaction for their research.
- Make sure the token has a channel, social presence is a key drive for memecoins.
- The token should have a relatable narrative. Memecoins are traded because of hype and fomo, humor plays a key factor to their sustainability.
- Check community notes. A token with positive reviews on its community page is safer than a token without engagement, or a token with a warning on its page.
- Follow successful traders. Research successful tokens and identify key wallets to track.
- Use slippage to prevent volume manipulation and MEV bots from affecting the trade execution.
The popularity of memecoins is attributed to their highly volatile nature. They are influenced by community hype and can turn even little investments to large capitals. They can also be responsible for large scale liquidations and users losing their investments. The GasPump memepad can be a thrill for traders that employ proper research.