PancakeSwap has launched a SpringBoard meme token launchpad. CAKE token rises by 44%

What’s new? The team of the decentralized crypto exchange (DEX) PancakeSwap has unveiled its own SpringBoard platform for creating and launching tokens on the BNB Chain blockchain. With its help, any user with no programming knowledge will be able to create their own asset in a few clicks. In addition, SpringBoard does not charge a startup fee, a small payment will be required only for transactions on the blockchain itself.

Press release

What else is known? To create their token on SpringBoard, users need to enter the name, ticker, and a small description of the project, as well as set the basic settings to start trading, including a total supply of at least 1 million coins.

It is also necessary to select the asset that will be paired with which the trade will be launched and which will be used to replenish the liquidity pool. It can be the CAKE exchange token, the USDT stablecoin from the Tether issuer, or the token of the world’s largest centralized exchange (CEX) Binance and the BNB Chain blockchain under the BNB ticker. Finally, liquidity requirements need to be specified. Technical aspects will be realized automatically at the expense of the platform.

The developers have provided protection against sniping — when traders seek to buy up a new token immediately after its listing to capitalize on fluctuations in its price. Thus, the creator can not only launch the asset within one transaction but also buy a part of its total stock.

Once the transaction is confirmed, the token will be launched and available for trading on SpringBoard. The price is automatically adjusted based on supply and demand through a smart contract-like Bonding Curve. The trading fee is 1% but not less than 0,001 BNB.

Once the liquidity of the project within the smart contract reaches 100% (by default it is about 24 BNB), the token will be paired with the PancakeSwap exchange itself and trading will be available already on it.

Projects selected by the exchange team will be able to participate in the Farm Program, where the asset’s liquidity pool will be replenished with CAKE tokens based on trading volume and community engagement.

The PancakeSwap team notes that SpringBoard can be used to create not only meme tokens but also community-oriented coins or tokens of decentralized finance (DeFi) projects.

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At the time of writing, SpringBoard has already launched many assets, mostly meme tokens with animal mascots similar to the largest and oldest meme token DOGE. There are coins based on TV series, as well as in honor of Binance co-founders Changpeng Zhao and Yi He, such as LaserCZ and Yi He Binance.

The BNB Chain-based PancakeSwap version three protocol is among the top 5 DEXs in terms of trading volume, with $37 billion in November, with 955 350 new accounts created to the platform during the month.

The native token CAKE jumped by 44,2% overnight to $4,34 on the back of SpringBoard’s launch, the highest since April this year. The asset ranks 122nd in the overall cryptocurrency market capitalization ranking, with a market cap of $1,2 billion.

BNB token also reacted positively to the launch, it added 20% and displaced the native token of the Solana (SOL) blockchain from the fifth place in the cryptocurrency ranking. It is now second only to bitcoin, Ethereum, XRP, and USDT with a capitalization of $114,22 billion at a value of $781,8.

In general, amid the hype around meme tokens, more and more platforms are looking to launch their own launchpads: most of them also do not require writing code and charge low fees.

The most popular meme token launchpad is PumpFun on the Solana network, which has created over 4,2 million coins and has a total capitalization of $7,3 billion.

The SunPump launchpad on Justin Sun’s TRON blockchain aims to compete with it, but so far its figures are much more modest: 91 023 tokens have been created with a capitalization of $309,52 million.

Earlier this month, one of the leading centralized exchanges Gate.io presented its launchpad called MemeBox, while the Memeland platform team launched a specialized blockchain Memenet with native token Memecoin (MEME) back in April.