Dump Fun BETA Launch with Features for Shorting Memecoins

Dump Fun BETA Launches with Features for Shorting Memecoins

The platform capitalizes on the volatile nature of the memecoin market, offering daily token listings.

Last updated: August 1, 2024 12:12 AM

Published July 31, 2024 1:44 AM

Last updated: August 1, 2024 12:12 AM

Published July 31, 2024 1:44 AM

Dump Fun has launched its highly anticipated BETA version, bringing a new tool to the cryptocurrency market. This platform, powered by Solend and Jupiter Exchange, lets users short tokens predicted to lose value.

The platform capitalizes on the volatile nature of the memecoin market, offering daily token listings.

🚨 BETA IS LIVE 🚨

You can finally short the shitcoins destined for zero. Powered by @solendprotocol and @JupiterExchange.

The beta password has been shared to the waitlist and in Telegram, linked at the end of this thread.

1/6 pic.twitter.com/2lxtN2AdoI
— dumpy.fun (@dumpydotfun) July 30, 2024

Community-Driven Token Listings

Initially, users can short one memecoin. However, the platform plans rapid expansion, with new tokens listed daily based on their popularity and liquidity. This ensures users have access to the most relevant and impactful assets.

One of the unique features of Dump Fun is its community-driven approach to token listings. Users can influence which tokens are added through a voting system. This interactive feature allows users to visit the voting page and cast their votes for new token suggestions.

Looking ahead, Dump Fun aims to introduce permissionless listings. This future upgrade will allow all tokens to be listed, further democratizing access and broadening the scope of available tokens.

This development will make the platform even more versatile for traders and investors. Early users will be eligible for a special airdrop, rewarding their support during the BETA phase.

Straightforward and User-Friendly Platform

Users simply select a coin to short, choose their leverage, and hit DUMP. This allows users to profit in a bear market, rug pulls, and scams, although they should be cautious of liquidation risks. Liquidity for these trades comes from bullish users who deposit memecoins to earn high borrowing rates, compounding their holdings.

Everything operates transparently on-chain, including short liquidation prices. The platform also features the innovative Squeeze Explorer™, enabling communities to target and squeeze shorts, adding an extra layer of excitement.

With plans for permissionless listings and rewards for early users, the platform aims to democratize access and provide a versatile tool for the crypto community.