Two of the best business models in crypto are infrastructure and trading. Meme combines them, evolving into the meme infrastructure.
Over $1 billion in revenue was generated by pump.fun and its related ecosystem, including Photon, BullX, Raydium, etc. Memecoins continue to dominate the crypto space. From a meme infrastructure perspective, the next wave of crypto adoption and innovation is going to be all about memes.
TL;DR
1️⃣ Overall meme ecosystem
Total volume (30D): $288 billion USD
Total fees (30D): $640.26 million USD
2️⃣ Specific meme dev market
Success rate (30D): 1.39% of 17,263 (bonded) out of 1,235,933 memecoins
EACH Bonded memecoin average trading volume: $16 million USD
Estimated monthly revenue: $748,800 USD
3️⃣ How will ForgeX win the meme space
Education-based GTM strategy - SEO contents, dev transformation
Product-driven thesis - building the moats
Positive Cash Flow - current of $4.6 million USD revenue, below the steady state, with your support, ForgeX has the potential to achieve 10x and even 100x growth, establishing a long-term meme dev market and paving the way for even greater achievements (next-billion market).
-- Overall meme ecosystem --
The meme ecosystem is not just about memes themselves; it's about a narrative. This narrative can increase money velocity. Solana, as a well-developed public chain, enables people to dominate its ecosystem directly through trading, consuming, and executing.
In real life (IRL), we measure economic entities using GDP, PCE, and PPI indicators. However, in Web3, IMO, we only need to use real yield: revenue fees, as the core indicator.
Above are the top 10 projects ranked by fee generation on Solana. We can see that 6 of them (Pump, Photon, BullX, Dex Screener, BonkBot, Trojan) are highly related to memecoins in trading. Additionally, 2 others (Raydium and Jito) are also likely related to memecoins in trading, as many trading pairs require Raydium as the DEX for swaps and Jito for MEV protection.The total revenue generated by these projects in the past 30 days is approximately $640.26 million USD.
In the last 30 days on Solana, 42.7% of the total volume is pump.fun-related, with a total volume of $674.58 billion. Specifically, for the meme sector, it contributes around $288 billion in volume.
-- Specific meme dev market --
We have already illustrated how large the meme ecosystem is. Next, we will focus on the specific area of the meme dev market.
Why are we so serious about the meme dev market? As the meme infrastructure, we need three essential products to serve everyone. First, a launchpad to solve the fair launch problem. Second, a to-C trading terminal to address the frontrunning issue. Third, a to-B token management terminal to handle token snipes and management.
In the past 30 days, 1,235,933 memecoins were launched from pump.fun, with 17,263 graduating from the bonding curve to Raydium, resulting in a success rate of 1.39%.
Under the assumption that meme trading volume follows a normal distribution in large samples, the 17,263 memecoins that successfully launched on Raydium contributed to a total trading volume of $288 billion USD. On average, each successfully launched meme achieved a trading volume of $16.6 million USD.
To further verify the reasonableness of this assumption, we observe from the chart that the highest daily trading volume for a memecoin on Raydium can even reach 180 million USD, far exceeding the average of $16 million USD.
To validate the average further, we used FWOG as a benchmark. FWOG has been in circulation for 144 days and is listed on Kraken, Mexc, Crypto.com, and other CEX. After sufficient market corrections, its observable trading volume stands at $14.4 million USD. Which could verify that each successful memecoin’s average trading volume is around $16 million USD.
Suppose only 1% of memecoins are heavily managed by meme devs. Out of the total 17,263 bonded memecoins, this would amount to 172 memecoins. The top 1 SaaS product usually captures up to 30% of the total market share, which equates to 52 memecoins.
Next, we know the average trading volume of a memecoin is $16 million USD. Meme devs typically buy only once and focus on marketing to DCA sell, which usually contributes around 30% of the total trading volume of a memecoin. This amounts to $4,800,000 USD per memecoin.
Finally, we calculate the total for the specific meme dev market: $4,800,000 x 52 = $249,600,000 USD per month. Which leads to $74,880,000 USD volume per month may happen at ForgeX with complete GTM & Product. The revenue for ForgeX will be $748,800 USD per month.
To further verify, we take the current top product (our competitor), Slerftools, as an example. Their income last month was 2,375 SOL, which is approximately $600,000 USD. Nevertheless, ForgeX offers a better product and has a clear go-to-market (GTM) plan to overtake them and become the new top product in the meme dev market.
-- How will ForgeX win the meme space --
Education-based GTM strategy
Even though ForgeX is built on a product-driven thesis, GTM remains the most critical aspect. A strong product alone cannot guarantee success without a robust go-to-market approach that drives adoption and builds user trust. For ForgeX, inbound marketing will be our top priority to capture the attention of meme developers and other key stakeholders.
Inbound marketing allows us to organically attract users by creating valuable, engaging content that aligns with their needs. This includes thought leadership articles, detailed guides for meme developers, and insightful social media posts. By positioning ForgeX as a reliable and innovative solution, we aim to foster trust and credibility within the community.
Our strategy will focus on:
-
Content Creation: Deliver high-quality resources tailored to meme devs, including tutorials, case studies, and best practices for launching and managing memecoins.
-
SEO Optimization: Ensure ForgeX content ranks highly on search engines for relevant queries, increasing visibility and accessibility. Especially on pump.fun comment zone, reddit community and ct(crypto twitter) etc.
-
Community Engagement: Actively participate in developer forums, social platforms, and Web3 communities to strengthen our brand presence and address user concerns directly.
While inbound marketing forms the foundation of our GTM strategy, it will be complemented by other initiatives, such as partnerships with launchpads and targeted outbound campaigns, to ensure ForgeX dominates the meme dev market.
Product-driven thesis
Currently, ForgeX's moats have become much more defined, with key features driving its adoption and popularity among meme developers. The community monitor function and wallet group (cluster) function are particularly noteworthy, addressing critical needs in the meme dev ecosystem and receiving widespread acclaim from users.
- Community Monitor Function: The community monitor function, designed to detect and manage all community addresses, has become an indispensable tool for meme developers. This feature stands out for its ability to:
Streamline Operations: Automatically identifying and categorizing community wallets, saving meme devs time and effort in managing these addresses. Enhance Transparency: By providing a clear overview of community wallets, it builds trust within the memecoin community and strengthens project credibility. Drive Developer Satisfaction: Meme devs have consistently praised this feature for its ease of use and its practical impact on their workflow. This tool has cemented itself as a cornerstone of ForgeX’s ecosystem, creating a unique value proposition that resonates deeply with its target audience.
- Wallet Group (Cluster) Function: Another game-changing feature of ForgeX is the wallet group function, also known as the cluster function. This innovative tool empowers meme devs in ways previously unavailable:
Targeted Trading: Developers can select specific wallets they want to interact or trade with, giving them unparalleled control over their memecoin’s liquidity and trading patterns. Community Takeover (CTO): The function enables meme devs to execute community takeovers seamlessly, consolidating power and ensuring the project aligns with their vision. Token Management: Developers can efficiently manage token allocation and redistribution, adapting quickly to market dynamics. Whale Control: By strategically grouping wallets, meme devs can position themselves as whales in their ecosystem, directly influencing trading activity and market sentiment. This level of control allows meme devs to act decisively, ensuring their projects remain robust and adaptable in the ever-changing memecoin landscape.
- Improved Kill Rate Control (GGR Model) The wallet group function has also revolutionized kill rate control under the Gross Gaming Revenue (GGR) model, a key metric for profitability in the meme dev market. By enabling developers to:
Optimize Revenue Streams: Directly manage wallet interactions to maximize gains. Control Trading Dynamics: Mitigate risks and enhance profitability through targeted wallet group strategies. Enhance Market Stability: Reduce volatility by strategically managing whale wallets and community participation. This function elevates ForgeX as the preferred platform for developers looking to fine-tune their memecoin performance and ensure sustainable growth.
Positive Cash Flow
Since the middle of this year, the total revenue fee generated by our competitor has reached 23,000 SOL, which is approximately $4.6 million USD. While this amount may seem modest compared to the two-day revenue generated by to-C trading terminals, it underscores the stability and potential of the to-B (meme dev) market. This market is solid and poised for viral growth because every blockchain requires meme developers to thrive, and those developers could be anyone, including individuals like us—or you. With a robust meme infrastructure in place, the process of meme creation, management, and trading becomes much smoother and significantly more efficient.
The Value of the To-B Meme Dev Market
-
Steady Growth Potential: Unlike to-C markets, which often experience high competition and advanced mkt rat race, the to-B market provides consistent revenue streams driven by the operational needs of meme developers. These developers are the backbone of the memecoin ecosystem, contributing to both its innovation and transaction volumes.
-
Universal Demand Across Chains: Each blockchain ecosystem relies on meme developers to drive user engagement, adoption, and trading activity. This creates a universal demand for tools and infrastructure tailored to meme developers, further solidifying the market's growth trajectory.
-
Inclusivity: The meme dev market is accessible to anyone, lowering entry barriers and encouraging participation from a wide variety of developers and creators. ForgeX, as a meme infrastructure provider, simplifies this process and empowers developers of all skill levels to succeed.
ForgeX’s Competitive Position
While ForgeX is currently operating below its steady state—as shown in the comparison with competitors in the following graph—it holds tremendous potential to grow faster and capture a larger market share. Specifically:
-
Room for Expansion: ForgeX’s current position offers significant opportunities for accelerated growth. With the right strategies in place, the platform is well-positioned to capitalize on the rapidly expanding meme dev market.
-
Clear Path to Market Leadership: As the meme dev market matures, ForgeX is strategically placed to capture up to 30% of the market share, mirroring the success of top SaaS products in other industries.
In conclusion, meme infrastrucuture is not only our wins, but also are your wins.