A new token launchpad, Boop.fun, debuted on Solana offering significant airdrops to crypto influencers launching new tokens. While the rewards are enticing—up to $350,000—this has raised ethical questions among some influencers. Users have also reported challenges during token launches, but Boop.fun asserts it aims to stand out by offering unique rewards.
In a rather intriguing move, a fresh Solana token launchpad called Boop.fun debuted this Thursday. The platform’s eye-catching strategy includes offering crypto influencers substantial sums—hundreds of thousands of dollars in BOOP tokens—provided they actually launch a new token. This tactic, while attracting attention, also raises some ethical questions among the crypto community.
The buzz around Boop.fun’s launch and its airdrop incentives has sparked some lively debates. Notably, a pseudonymous trader, CirrusNFT, posed a provocative question on X, formerly known as Twitter: would one accept a $200,000 airdrop for launching a token? This question evolved, with the figure rising to $350,000 given the increasing value of the BOOP tokens. Some influencers are clearly wrestling with the implications of such decisions. One noted artist, Bold Leonidas, initially said no, grappling with the mechanics of the token launch.
Influential figures in the space have added their thoughts too. Cobie, another well-known name, advised potential token creators on social media to consider disclaimers stating their motives. For instance, to clarify that a token launch is solely about unlocking the airdrop, implying that it’s not meant for serious investment. This transparency is important in avoiding potential fallout if the tokens turn out to be worthless
Interestingly, the structure of this airdrop is two-fold, aimed at encouraging users not just to launch but also buy tokens from Boop.fun. To participate, crypto influencers are sorted into tiers based on a variety of factors including followers and engagement levels on X. However, only a select few from those tiers can actually claim the airdrop, with a key requirement being the launch of a “cult” or token.
But here’s a catch: the rewards aren’t instantly available; influencers have to wait 30 days. There is, however, a way to expedite that wait if the created token hits certain market cap requirements. For example, achieving a $5 million market cap reduces the waiting period by five days, adding an interesting layer of gamification to the process.
While the ethical discussions simmered, some users reported difficulties with launching tokens, including issues related to token claims and migrations due to high demand on the platform. Dingaling, the pseudonymous leader of Boop.fun, reassured users that issues would be addressed soon.
In a bid to set itself apart from other Solana launchpads, Boop.fun offers enticing daily rewards in BOOP tokens, plus those who stake BOOP tokens can benefit further from a share of the trading fees and even a percentage of tokens from successful meme coins on the platform. The current BOOP token boasts a market cap of around $231 million, with trading volume hitting approximately $50 million. Just earlier Thursday, the top-tier airdrop was valued at about $350,000 but has since dipped to about $162,000, showing the high stakes in this continually shifting landscape.
