MemecoinFactory Allows to Create Memecoins in Under 15 Seconds
In Brief
MemecoinFactory allows users to deploy their own cryptocurrency in under 15 seconds, with lower gas costs and the option to send a percentage to the deployer and create and seed LP.
The project was created by Twitter user quit and is intended for educational purposes only.
quit was inspired by Whitelights.eth who a few days ago showed how to create a meme coin in under 27 seconds.
MemecoinFactory creates ownerless contracts and requires only ETH, a token name, symbol, total supply, team percentage, and LP lock duration to deploy.
With the recent surge of memecoins, specifically $PEPE, there have been discussions about the legitimacy and credibility of these types of cryptocurrencies, as well as the process of making them.
Over the weekend, a Twitter post by user Whitelights.eth about creating a meme coin in less than 27 seconds gained significant attention. The video showcased how Contracts Wizard, a program developed by cybersecurity firm OpenZeppelin, can be used to quickly create a crypto coin.
The video, intended solely for educational purposes, showed how the token Easy_Money was generated on a testnet. Testnets are blockchain networks designed to enable dApp developers to test their products without incurring the high economic costs when using a cryptocurrency mainnet.
On Monday, another user called quit shared how he created a coin $quit in less than 15 seconds. One of the features of $quit is that it has a total supply of 0, which means no tokens are available for purchase or trade. The creator shared that the coin was developed with a tool called MemecoinFactory.
The platform simplifies the process of deploying new coins by reducing the amount of gas required and sending a percentage of the new coins to the deployer. The platform also creates and seeds LP (liquidity provider) unless the team percentage is set to 100.
To deploy a coin using the MemecoinFactory, users will need to provide ETH (if creating an LP), a token name, a token symbol, the total supply, team percentage, and the duration for which the liquidity will be locked. The contracts created using the platform are ownerless, as the platform itself.
“Shitcoining just got even easier. That could be good or bad, so apologies in advance if it’s the latter,”
the creator said.
The ease of creating new cryptocurrencies through tools like the MemecoinFactory could lead to an increase in low-quality or scam projects, which could harm investors who put their money into these coins. In addition, meme coins could further contribute to the current market saturation, where too many cryptocurrencies are competing for attention and resources. This could reduce the overall quality of the cryptocurrency market and make it more difficult for legitimate projects to gain traction and succeed.
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About The Author
Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on agnec@mpost.io.
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Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on agnec@mpost.io.
