Moonshot – Memecoin dedicated exchange, the next Dapp with the listing effect?
Written by: shaofaye123, Foresight News
Recently, Moonshot has attracted a wave of attention as more projects and users participate in the Memecoin super cycle. The emergence of Moonshot at this time is not just about fiat currency deposits and optimizing user experience. Meme Popcat, with a market value of 1 billion, cannot list on CEX, and new users still face obstacles when using on-chain transactions. The demand for user purchases is difficult to meet, and the capital flow of Memecoin is still limited to on-chain. Moonshot positions itself between CEX and on-chain, creating conditions for off-chain funds to inject into on-chain Memecoin, and it may become the next application with the listing effect. This article will take you on a quick tour of this Memecoin trading application.
What is Moonshot?
Moonshot is an application on the App Store that allows users to directly buy and sell Memecoin with fiat currency, deployed on Solana. It aims to seamlessly introduce Web 2 users to easily experience Web 3. The account registration of Moonshot uses common Web 2 methods, without the need for mnemonic phrases. Users only need their email and FaceID to register. When users make transactions, they do not need to understand the complex underlying knowledge of blockchain or possess Gas. They can directly trade on their mobile phones.
Fees
Moonshot’s deposits and withdrawals will be charged by Moonpay. In addition to the Gas required on-chain, Moonshot’s transaction fees also include a certain management fee, which will be charged according to the transaction scale and has a minimum limit.
Advantages of Moonshot
Convenient operation.
The usual path for users to purchase Memecoin on Solana is as follows:
Register a wallet address and save the mnemonic phrase – Extract Sol from CEX as Gas and funds – Withdraw to on-chain wallet address – Trade on DEX/aggregator – Profit and withdraw SOL to CEX – Cash out through CEX.
In this process, users need to understand the wallets and Gas required by the blockchain, have an account on CEX, and save the on-chain mnemonic phrase, and be familiar with the DEX for trading on the blockchain.
Moonshot simplifies this path by using Web 2 login and registration methods, enabling transactions on mobile phones, and allowing users to recharge using Apple Pay/credit cards/Paypal. Transactions can be conducted without Gas, and profits can be seamlessly withdrawn. It only takes a few minutes from creating an account to depositing funds, greatly shortening this transaction path.
Basic security attributes.
Memecoin trading carries high risks, and there are often RUGs and scams on-chain. New users are likely to encounter scams when facing the dark forest of Web 3. Before listing, Moonshot will conduct certain screenings, which will serve as a protective barrier for new Web 3 users.
Strong propagation effect.
Moonshot has a strong propagation effect in Web 2. Due to the lower entry barriers and ongoing referral activities, it has attracted a significant amount of organic traffic. This creates conditions for Memecoin to break out of its circle, and this strong breadth of propagation will bring about significant wealth effects. Since being listed on Moonshot, GOAT has increased by 30 times.
New wealth effects brought by capital flow.
In addition to the wealth effects brought by propagation, the injection of new funds and users will bring more liquidity. Moonshot has only been launched for 3 months since July, but it has already sparked extensive discussions. The simplification of social login and fiat currency deposit processes may bring more new users and funds to the Solana ecosystem. It bridges the link between on-chain Memecoin and off-chain funds.
For new users who want to invest in Memecoin but do not know how to purchase it, a convenient trading platform with a strong listing effect and security guarantee may be essential. The emergence of Moonshot may squeeze the survival space of third-tier exchanges, and it is worth looking forward to whether on-chain Memecoin can attract greater liquidity.
