If you haven't seen my introduction post about Fantom meme season start there as it'll give you all the background you need for this.
https://www.bulbapp.io/p/0647e9bd-4989-4165-aeee-48ed50d10b0f/fantom-meme-season-will-it-work-as-intended?s_id=b3f02dac-e2c4-4dbc-90fe-f152d08a42fc

Fantom meme season update #1

We're halfway through the first month of Fantom meme season. Let's check on our performance.



So far, so down. But that is largely the market right now. In good news $HOOPS is now on CoinGecko.

New Entrants

We've seen a couple more coins join the contest.

• $PEDRO
• $FDOG

Predictably $FDOG isn't on CoinGecko. Again the Fantom Foundation ignoring their own T&Cs for the contest...

The Leaderboard

There's been a big change on the leaderboard. $sGOAT has seen their MC fall quite a bit and whilst $HOOPS has now taken the top spot and has started to pull away, with nearly double the MC of 2nd place ($sGOAT).

Brand new entrant $PEDRO is 3rd with slightly less MC than 4th place $THC, though their trading volume is much higher, in fact it's the highest in the leaderboard, and nearly 2.5x the volume of the top placed $HOOPS.

$sGOAT trading volume is the second highest at a bit over 50% of $PEDRO but it's well over double that of $SPEEDY, who has the 3rd highest trading volume.

NOTE: Trading volume is 24hr and MC the last 3 days. This means these numbers are liable to see large movements.

https://www.memeseason2024.com/

NOTE: Rank (e.g., Points) are determined by: (GAS USED *0.35) + (DeFi VOLUME *0.15) + (Marketcap * 0.5)

Memedex Comp: Season 1 - Beethoven X

Beethoven X have created a multi-token LP for meme season. It's unclear whether you'll be eligible for rewards in an LP but seeing as I'm such a big fan of Beethoven X and that it's been quite hard to swap to some of the tokens as liquidity has been quite thin.

I've swapped my individual positions for a position in all the tokens contest-wide and I'm earning yield plus $BEETS incentives.
The risks are, of course, IL (impermanent loss) and that we don't actually get rewards for being in an LP. But given the whole idea of this contest is for Fantom to attract more trading and liquidity it seems silly to incentivise people to not LP (thus making the trading experience worse).
We will see...

https://beets.fi/pool/0x80a02eb6c4197e571129657044b0cc41d6517b5a00010000000000000000084b



Now unfortunately Beethoven X can't change the LP but there's nothing stopping them making a new one.

Memecoin Roll Call

Let's meet some of these memecoins.

$sGOAT

https://www.coingecko.com/en/coins/sonic-goat

All the links https://linktr.ee/sonicgoat


It's a bit all over the place TBH. There's an announcement post on Medium which lays out a pretty complex setup for a memecoin https://medium.com/@sonicgoat/sgoat-the-first-decentralised-meme-foundation-ever-e056081ab0c8

But the website itself https://www.thesonicgoat.com/ as well as the X and TG accounts paint the image of a more standard memecoin. The big selling point seems to be there is some large investor on Fantom that is behind this. Whether that's a good or a bad thing I can't work out. More concentrated ownership in memecoins is almost always a bad thing.

Recently they launched a collection of NFTs which they airdropped to token stakers (can't work out where that is/was) and LP stakers.

https://paintswap.finance/marketplace/fantom/collections/sonic-goat/nfts

They're hideous but that seems entirely the point. I like the fact that they haven't sold these, just airdropped to on chain supporter, but that they are flagging they are not just reward badges but will be a part of the project moving forward.



Whatever you do, DON'T stake here https://staking.thesonicgoat.com/. It was a joke. Just locks your tokens for 60 days and nothing else.

General community sentiment seems below average at the moment judging by the TG chat and the attitude of the team in there. The token has taken a steep dive in price since it was top of the Fantom meme season leaderboard.
However the TG and X profiles are active and the NFTs show there's at least some commitment from the team to keep producing content (which is what memecoins are all about at the end of the day).

$SPEEDY

Welcome to yet another token that hasn't had the greatest start to life on Fantom.

https://www.coingecko.com/en/coins/speedy

All the links https://linktr.ee/speedyonftm

I LOVE the Speedynator on the website. Such a nice little tool to make a variety of image types.
Anyone can use it. Give it a go, it's fun.
https://www.speedy.vip/speedynator

Here's some I did.

X banner

PFP



I wouldn't say Speedy is incredibly active as goes their X and TG.
And at time of writing their TG verification was broken so was blocking me joining it, but they only have 1390 members which is quite small for a memecoin with any sort of MC.

It's really nice clean art. The website is funny and well designed (the roadmap is an animation of a car on a continual loop, which is hilarious https://www.speedy.vip/).

It's not that unique though. Whilst they say they're the fastest dog on the planet... it's pretty clear they're Sonic The Hedgehog fan art. I worry about memecoins that have clear potential copyright issues, feels like they're a ticking timebomb should they get on the radar of any IP lawyers.