• Market Cap: $3,280,198,011,472.70
  • 24h Vol: $101,944,309,005.78
  • BTC Dominance: 64.60%
  • CONTACT
  • MARKETCAP
Daily Cryptex - Crypto News, Articles and Insights
  • Home
  • Crypto Prices
  • Crypto News
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Altcoins
    • Stablecoins News
  • Exchange News
    • Binance News
    • Bitget News
    • ByBit News
    • Coinbase News
    • FTX News
    • OKX News
  • DeFi News
  • Metaverse News
  • NFTs News
  • Learn
Font ResizerAa
Daily Cryptex - Crypto News, Articles and InsightsDaily Cryptex - Crypto News, Articles and Insights
  • Home
  • Crypto News
  • Learn
Search
  • Home
  • Crypto News
    • Altcoins
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Stablecoins News
  • Exchange News
    • Binance News
    • Bitget News
    • ByBit News
    • Coinbase News
    • FTX News
    • OKX News
  • Decentralized Finance (DeFI) News
  • Metaverse News
  • NFTs News
Follow US
© Daily Cryptex. All Rights Reserved.
Solana co-founder proposes memecoin dev grants - 1
Daily Cryptex - Crypto News, Articles and Insights > Crypto News > Altcoins > Solana (SOL) > Solana Co-Founder Proposes Grants for Memecoin Developers
AltcoinsCrypto NewsSolana (SOL)

Solana Co-Founder Proposes Grants for Memecoin Developers

Burhaan Al Amin
Last updated: July 8, 2024 4:58 pm
Burhaan Al Amin Published July 8, 2024
Share

Solana co-founder Anatoly Yakovenko suggested that memecoins creators allocate developer grants to improve meme projects.

Memecoins remain a contentious cryptocurrency sector where investors can see massive losses quickly in scams known as “rug pulls” or “getting rekt.”

Solana (SOL) has become the go-to network for memecoins due to its low transaction fees and simple coin solutions like pump.fun.

Solana co-founder Anatoly Yakovenko proposed enlisting developers to create customer features. “Memecoins should grant dev teams to build stuff for them. Effectively reverse the ICO process,” Yakovenko wrote on Monday.

The X reply was part of a discussion on how meme projects could increase retail user onboarding and attract institutional investors to adopt cryptocurrencies.

Retail needs to make money on something to bring more retail and instos and its not looking like a 10b+ infra thingies will do that

— chainyoda (@chainyoda) July 8, 2024

Memecoins tumble with crypto market

The memecoin sector joined a broad crypto market decline on Monday, losing over 8% of its market cap, according to CoinGecko data.

Bearish price actions have affected digital assets for weeks, and meme tokens have succumbed to the volatility associated with cryptocurrencies. Top meme tokens like Brett (BRETT), Dogwifhat (WIF), and Pepe (PEPE) have seen double-digit declines within the past week alone.


Solana co-founder proposes memecoin dev grants - 1
Top meme tokens by market cap | Source: CoinGecko

You Might Also Like

Ethereum ETFs See $133M Outflow on Second Trading Day

Venture Capital Surges into Solana Ecosystem Amid Growth

GMX Proposal to Change Revenue Model Reaches Voting Stage

Kraken Confirms Receipt of Mt. Gox Creditor Bitcoin

Crypto Market Turbulence Triggers Over $1B in Liquidations

TAGGED:MemecoinSolana

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Twitter Whatsapp Whatsapp LinkedIn Reddit Telegram Threads Email Copy Link Print
Share
What do you think?
Love0
Sad0
Sleepy0
Surprise0
Angry0
Dead0
Previous Article German government sends over 16,000 BTC to exchanges German Government Transfers 16,000 BTC to Major Exchanges
Next Article ZKM announces first Bitcoin L2 to share network ownership ZKM Unveils First Bitcoin L2, Shares Network Ownership
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Subscribe to our newslettern

Get Newest Articles Instantly!

Popular News
Report: Blockchain to Revolutionize Global Payment Systems
Are NFTs are stiil alive and will NFT.NYC be back in 2025? | Opinion - 1
Will NFT.NYC Return in 2025? The Future of NFTs Discussed
Is Polkadot the next FTX? $87M spending spree, racism claims, and user backlash - 1
Controversies Stir Polkadot: $87M Spree, Racism Claims, Backlash

You Might Also Like

Bitcoin price shrugs Germany’s $362m exchange deposit 
Bitcoin (BTC)Crypto News

Bitcoin Remains Steady Despite Germany’s $362M Exchange Deposit

By Burhaan Al Amin July 9, 2024
Ronin: Whitehats return $10m in Ether after MEV bug
Crypto NewsEthereum (ETH)

Whitehat Hackers Return $10M in Ether After MEV Bug Fix

By Burhaan Al Amin August 6, 2024
Ethereum nosedives: 32% weekly drop, largest YTD loss - 1
Crypto NewsEthereum (ETH)

Ethereum Plummets 32% in a Week, Marking Largest Yearly Decline

By Burhaan Al Amin August 5, 2024
Futu Securities launches crypto trading for Hong Kong retail investors: report
Crypto NewsEthereum (ETH)

Futu Securities Launches Crypto Trading for Hong Kong Investors

By Burhaan Al Amin August 1, 2024

Follow Us on Socials

We use social media to react to breaking news, update supporters and share information

Facebook X-twitter Youtube Instagram Pinterest Threads Telegram
Daily Cryptex - Crypto News, Articles and Insights

Your Source for the Latest Crypto News, Market Analysis, and Expert Insights. Stay Informed Daily!

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Info

Terms

  • About
  • Contact
  • Terms Of Service
  • Privacy Policy
  • Cookie Policy
  • Editorial Policy
  • GDPR Compliance
© Daily Cryptex. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?