Solana co-founder Anatoly Yakovenko proposed that memecoin creators allocate developer grants to improve their projects. This suggestion aims to reverse the ICO process by funding developer teams to build customer features for meme tokens.
Memecoins have become a contentious sector, often leading to overnight millionaires or massive losses in scams like “rug pulls.” Solana has positioned itself as the go-to network for memes, offering low transaction fees and solutions like pump.fun.
Yakovenko’s proposal aims to establish a steady onboarding process for retail users and incentivize institutional investors. Developers would accept grants from projects with fair and transparent terms. A similar idea was discussed by Fantom contributor Andre Cronje.
Despite the innovation, the memecoin market saw an 8% decline on Monday amid a broader crypto market downturn, with top tokens like Brett, Dogwifhat, and Pepe experiencing double-digit losses.
This strategic move could help stabilize the memecoin sector and attract more serious investment, potentially reshaping the future of meme-based cryptocurrencies.
