The current development status of MEME coins on Virtual

Since the launch of the Genesis Launches platform, although there have been some projects that seem unreliable at first glance, there are not many projects that directly issue meme coins transparently, and even if there are, they often appear to be subpar.

Until a few days ago, this phenomenon was broken—an established AI Agent Vader, which has been collaborating with the launch platform, began to directly issue its created meme coin, VIRGEN.

What makes this meme coin special is that it is a transparently issued meme coin from a well-known team.

Although it is a meme coin, it has shown a special friendliness to the community in its issuance mechanism: aside from a portion allocated for presale and a portion for liquidity, a significant amount was set aside for users staking in the Virtual ecosystem and some holders of classic meme coins for airdrops.

In addition to the special issuance mechanism, this token has one aspect that differentiates it from other presale tokens: it has no lock-up period. This means that if the sale is successful, the token will have a high premium as soon as it goes live, allowing users who participated in the sale to sell immediately for profit without restrictions—something many participants have long dreamed of.

This led many users to speculate whether the token would immediately plummet after the sale.

Despite various speculations and concerns, many users still participated in the sale, which was successful.

Surprisingly, after the token went live, the anticipated crash did not occur; instead, it continued to rise steadily.

On the team side, in addition to the airdrops announced during the presale, they also airdropped tokens to users who participated in the presale and did not sell, and subsequently continued to use the profits gained in the market to buy back tokens.

Through these operations, this token quickly established its unique image, becoming the rightful first meme coin in the Virtual ecosystem.

With the success of this meme coin, a new meme coin, NOTHING, emerged in the ecosystem. However, this meme coin is not purely a meme; its team has also given it a very direct purpose: to "permanently" lock the tokens, allowing participants who stake it to continuously earn "permanent" points for participating in platform sales.

NOTHING was also successfully launched and conducted two additional airdrops, exceeding previous expectations for this token.

The reason these two meme coins were able to succeed in the current environment of meme coin proliferation, in my view, is partly due to their generous mechanisms; on the other hand, it is because the actions of the teams behind them are distinctly different from most meme coins that focus solely on profit.

However, such operations are difficult to replicate, and such teams are rare.

Therefore, after these two successful cases, I began to wonder: Genesis Launches is, after all, a permissionless launch platform where anyone can launch projects. These two successful cases will surely attract a mix of quality and subpar projects, disrupting the ecosystem and creating a situation where "one bad apple spoils the bunch."

If that happens, won't this platform turn into another pump.fun?

If Virtual becomes the second pump.fun, it is unlikely to go far.

To change this situation, the easiest way is for the team to directly intervene and change the rules, using additional constraints to limit such projects. However, if not handled properly, this could lead to the team overreaching, trying to control everything, ultimately stifling the platform and causing it to lose vitality.

The best approach is still to allow projects (including both quality and subpar ones) to launch permissionlessly, but let the market mechanism itself weed out the inferior projects. If the Virtual ecosystem can form such a healthy market mechanism, it can create its unique culture and atmosphere, and further establish this mechanism and atmosphere as a strong moat.

However, the key to forming such a mechanism and atmosphere ultimately requires a group of high-quality participants who can consciously reject poor projects through their actions.

Therefore, I have been closely monitoring the upcoming projects being launched.

Sure enough, several uninspired, purely shell meme coins were issued on the platform next. The first one, although successfully sold, saw its price plummet after going live. The subsequent ones were directly sent to the market's cold storage.

Seeing this situation, I felt somewhat relieved.

I hope this atmosphere and mechanism can continue, allowing Virtual to form a platform that is completely different from pump.fun.