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Magnetic X, the leading decentralized exchange on XRP Ledger (XRPL), has introduced Memepad, a launchpad for meme coins on the XRP network.
The platform aims to foster innovation in the meme coin sector by allowing users to launch their own tokens on XRPL. Magnetic X’s meme coin launchpad sets a target for total value locked (TVL) and offers a partnership opportunity once the TVL surpasses 50,000 XRP tokens. This collaboration could extend to farming, promotion, and project development assistance.
Creating and launching a token is straightforward, with full guidance available on Memepad’s webpage. Importantly, Magnetic X does not impose fees for token trading or launching, emphasizing accessibility and a user-friendly experience.
VADER Coin Launch and Notable Holdings
Magnetic X has also introduced its meme coin, VADER, to establish a benchmark for meme coin projects on the XRP Ledger. The platform did not retain an initial share of the tokens. Instead, 30% of the issue was bought for farming rewards and airdrops, primarily targeting players of Factors, an associated game.
VADER aims to demonstrate the scalability of meme coins on XRPL, highlighting the potential for growth in both liquidity and market capitalization.
In just one day, 70 memcoins were released on our mempad, and this is just the beginning.
These are the stats of the first released memcoin, VADER:
TVL: 190k XRP
Number of holders: 507
APR in farming: 668%
Trade: https://t.co/pS5Jsi6bT8Today we will release small updates on… https://t.co/kM4JljLSa6 pic.twitter.com/KO0Qo9ib6V
— Magnetic X (@MagneticXRPL) October 21, 2024
Expanding Meme Coins on XRPL
Notably, Edo Farina, CEO of Alpha Lions Academy, has unveiled a list of other notable meme coins available on XRPL via First Ledger.
These include RIDDLER, which has a market cap of $146K. DROP, supported by a strong community, has a market cap of $27K. CLOWNSER, themed after SEC chair Gary Gensler, has a market cap of $20K. SCHWEPE, inspired by PEPE and David Schwartz, maintains a significant market cap of $1.24 million. Lastly, BRITTO, associated with Ripple’s Arthur Britto, has a market cap of $432K.