Maverick Protocol revealed to Cointelegraph on December 9 that it has launched the “MemeFi” platform on Coinbase’s Base Network with the goal of bringing decentralized finance (DeFi) to memecoins.
Named goose.run, the platform was created as Base’s answer to Pump.fun, the popular Solana (SOL) memecoin platform.
In addition to aligning with Pump.fun’s core features, such as liquidity bootstrapping for new tokens, goose.run also allows users to lend and borrow memecoins.
“We think (Base) is pretty untouched when it comes to memecoin platforms,” Maverick contributor Bob Baxley told Cointelegraph.
“There are certainly people who have tried, but none of them have really gained traction,” Baxley said.
In October, Base became the largest Ethereum layer 2 network by Total Value Locked (TVL). As of December 9, TVL was worth nearly $4 billion, according to DefiLlama.
goose.run aims to “gamify” memecoin trading. Source: goose.run
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Loans on Memecoin
Unlike existing DeFi lending platforms like Aave, which service a two-sided marketplace, at goose.fun, “the pool itself is the counterparty to the loan,” Baxley said.
Goose.run said in a statement that lending and borrowing will be available “from day one” on the memecoin listing.
In theory, token holders could use this feature to leverage long positions to double their memecoins, Baxley confirmed.
Goose.run also plans to integrate video broadcasting, so the memecoin launch will be a “capital formation for content creation,” Baxley said.
In addition to goose.run, Maverick operates a decentralized exchange (DEX) on five blockchain networks, including Base.
source: Dipilama
A legitimate asset class?
Thanks to venture capital funding and political speculation, Memcoin’s market capitalization now stands at more than $128 billion, according to CoinGecko.
Researcher Cryptonary said in a September report that Memecoin is emerging as a “legitimate asset class,” adding that “institutional Memecoin holdings surpassed $200 million in May, an increase of more than 220% since the beginning of the year.”
In April, Paul Veradittakit said, not purely speculatively, that memecoins “play an important role in stimulating network activity.”
In 2024, memecoin platform Pump.fun generated more than $1.25 billion in revenue, according to DefiLlama.
In December, Pump.fun’s revenue declined after the platform disabled its live streaming feature following reports of harmful content being broadcast.
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