I'm going to show you here how Solana will get flipped by Internet Computer Protocol one day as the dominant meme coin platform. Now, some of you are thinking that's ridiculous. Solana is so far ahead in all these various transaction metrics. What's special on ICP, and why I'm confident that one day ICP will be the absolute leader in creating and launching meme coins, is because you can do so much on ICP. Meme coins on ICP are an absolute dream come true with the functionality, and that's what I want to walk through today. In fact, I managed to lose 20 ICP just to make an exercise out of testing one way to launch a meme coin on ICP myself.
What Solana is missing
On Solana, while there is a lot of activity around people creating meme coins, what's lacking is the ability to extremely easily launch your own meme coin totally for free, without having to even pay Solana gas fees, and for everybody to be able to participate directly on chain. When you create a meme coin on Solana, what you're making is a token on Solana, and then you have to use third party applications like wallets or websites to interact with the Solana blockchain itself. That means it's very hard to give any real value to the Solana blockchain itself, and it's very hard to keep a real community around a Solana meme coin for more than a few minutes while people are gambling, trading, and speculating on it.
But on Internet Computer Protocol, you can build everything completely on chain, which for the longevity of meme coins is essential, and for being able to share and create things rapidly. That difference is the whole reason I believe this flip is coming. I've made the broader version of this argument before in my debate destroying Solana versus ChatGPT, and the meme coin angle is where it gets the most concrete.
I launched my own meme coin on launch.bob.fun as a test
I did a little test of this with the new launcher launch.bob.fun. I created my own little meme coin, which I no longer hold any of, and this is what happened. I created the meme coin, put 120 ICP into it, and then shared it on my OpenChat. Other people came in and started buying it. Then someone told me, hey, you need to watch out, because if someone pushes your token over the launch, while you think it's a fair launch, what you're actually going to get is a soft rug.
So right now, anyone could have just rugged everybody on my meme coin, including me. What I did is I told everybody on my meme coin, hey, I found this critical issue, I'm going to sell, so everybody else dump before me. Once everyone had dumped, I exited. People are still trading it now, but I sold all of mine already and I'm not participating in it. What's incredible about this is how easy this all was.
Here's how you start. I went to launch.bob.fun, signed in with my Internet Identity, and you literally just type a name, a ticker, a description, and upload an image, then create the new coin. You don't even have to pay gas fees, and this is possible because it's fully on chain with ICP. You can even get an ICP Swap decentralized exchange, fully on ICP, that has a liquidity pool for this once you hit an $8,000 market cap. The critical thing is you don't have to pay gas fees. The critical problem is that right now it looks like anyone can rug these ICP liquidity swaps, and then everyone's screwed. But this is an outstanding proof of concept.
How big this could get
Think about how small ICP is, how big the meme coin game is, and how much of Solana's entire business is just people launching meme coins. Then think about how limited the functionality and utility of meme coins on Solana is, versus how easy it is here, where anyone can launch a meme coin for free. And you can actually get paid to launch meme coins with this setup. Right now, I don't know if there's a spam block or anything, but you can just put in a name and an image file and click create new coin, and then you get ICP if the coin actually has a successful launch.
This is all because it's fully on chain. Everybody can talk about the coin directly on chain on bob fun, and as far as I know, a single developer built this themselves. Because you can do everything on chain on ICP, and it's a full stack platform, you can build all of the functionality right into this: chat, trade, put it directly into a swap pool. Then you can go much further. You can build a community directly on OpenChat, and you can require people to actually hold the coin to get into your community. Right now I have a pay gate on my channel where you have to pay one ICP to get in. This eliminates the need to use a Discord or Telegram server, and it gives some real utility, a real reason to actually buy the coin besides just trading and speculating on it, which, sure, is fun.
When platforms like bob fun come out with a superior, easier and faster to use, no gas fees product, where you can actually get paid to launch meme coins, this is going to lead to ICP being utterly dominant in the meme coin space. That's my opinion, and I don't know how long it will take, because this is happening organically. For as small as the ICP community is compared to Solana, there's a lot of activity on just this one meme coin launcher. There are other people building their own meme coin launchers, and whoever makes the most successful meme coin launcher on ICP is going to be very rich, because of the technical functionality and what you can do with it by putting it all on chain.
Meme coins that become full on-chain DAOs
You can even launch your own coin like this Dragons coin. This was originally launched as a meme coin, and the Dragons team came and bought the entire project. They bought over 50 percent of the supply, and once you locked it up, they got over half the voting power and took the entire project over. There are other projects that have launched like that. So you have several meme coins on here now, and this is a fully on-chain DAO, which for meme coin functionality is insane that you could actually have directly on chain.
This is what's possible on ICP. You can see that meme coins like WIN DOGE 98 have already gotten some sizable market caps. WIN DOGE 98 is up to almost a $10 million market cap, which, keep in mind, is happening while ICP is still tiny relative to Solana, at least not in terms of technology. The ICP tech is doing more computations than all other blockchains combined right now. If you want to look at that yourself, you can look at the dashboard at internetcomputer.org, which shows literally more transactions, more computations, and more processing than all other blockchains combined, by some multiples, doing the equivalent of millions of Ethereum transactions a second. This is a real world computer. I keep all of these conversations going in my ICP Crypto playlist if you want to go deeper on the technology.
Everything in one ecosystem
Because on ICP you have a real world computer that puts everything into one single platform, once people who are into meme coins find that they can get paid to launch meme coins on something like launch.bob.fun, you get more people coming in. I believe the EXE team is launching their own meme coin launcher soon. And because this is all on chain, OpenChat has direct built-in swap support for a whole bunch of different meme coins, which makes it super easy to just trade every single different crypto right there. I can swap into Bob right now directly from chat, and you can trade back and forth into the stablecoins too. There's no better technology in the world right now just for meme coins alone, not to mention AI on chain and real world assets like Gold DAO. This is all on ICP.
This is why I have 80 plus percent of my portfolio on Internet Computer Protocol, with 80 plus percent of it just being ICP itself. The next biggest position, around 10 percent, is OpenChat, and then I have a good position in Gold DAO as well. This is just my own portfolio and my own experience, not advice for you.
Here's another example where meme coins can really go nuts, because what you can do on OpenChat is peer-to-peer swaps. Imagine being able to launch a meme coin and then swap it directly inside something like Discord or Telegram. You can do that in OpenChat. Now, the coins that OpenChat supports have to be voted in by the DAO, so the more OpenChat coin you hold in the community, the more meaningful a vote you have on which meme coins get added. In theory, you could launch a meme coin for free on launch.bob.fun, eventually get a liquidity pool on ICP Swap, submit a proposal to OpenChat, and then people directly in OpenChat, without even using the launcher, could start swapping your meme coin right there. Then communities are able to have everybody posting these swaps. So meme coins on ICP have the ability to be social like nothing else. If you want to come see this in action, you're welcome to join us in the Jerry Banfield Family and OpenChat and watch how it works.
Right now, all the other meme coin ecosystems like Solana are heavily siloed. You sign in on some third party website that is accessing the Solana blockchain for you, and then you have to go into Discord or Telegram to actually talk about these meme coins. Because of all those disconnects, where you have to use Discord or Telegram, which is not involved with the Solana blockchain at all, you're creating coins that live on third party websites where you're very vulnerable to having an issue with the website, or to them even filtering certain meme coins on you.
Why one integrated platform wins
Because ICP does it all in one single platform, you can use one single wallet to sign into OpenChat, into the Network Nervous System, and into the meme coin launchers, because it's all integrated. It's a smoother, faster, better user experience. If you look at the history of other technology, the smoothest, fastest, best user experiences are the ones where people could do everything in one single platform. Look at Apple with personal computers, phones, and tablets. People get into the entire Apple ecosystem. I've had all of that Apple stuff, including the Mac Pro. With Windows, then you have Android, and people get siloed. ICP is an absolute dream come true for people in crypto, because you can do everything with one wallet, on one ecosystem, all in one single interface, all with reverse gas fees. Transactions are incredibly cheap when you do actually transfer a coin from one place to another.
This is the future. I see that ICP will come to dominate the meme coin space, along with many other spaces like real world assets, DeFi, and AI on chain. Meme coins, to me, are one of the most clear adoption cases, because we've seen how much they've exploded in other places. This is also why I think the market caps you see today are a distraction from what's actually being built here.
So if you love meme coins, if you want to make some money with meme coins, this, to me, is what's happening on ICP, with launchers like launch.bob.fun. This is the cutting edge of what's happening in meme coins today, where you can do all of this stuff on chain, where you can even make a project and have it all integrated. That is what's really exciting to me right now.
One word of caution: if I ever do have a real meme coin that I'm completely satisfied with, it will be linked on jerrybanfield.com. Anything that is not linked on jerrybanfield.com is, in most cases, not created by me, or in other cases something I started, abandoned, and am no longer paying attention to. So thank you very much for reading this, and I'll see you at the top with meme coins on ICP.