Moonshot: Can fiat currency be used to purchase Memecoin?

Original title: "Moonshot: Can Fiat Currency Buy Memecoin?"

Original author: shaofaye123, Foresight News

Moonshot has attracted a wave of popularity recently. In the Memecoin super cycle, more and more projects and users are beginning to participate. Moonshot's appearance at this time is not only a simple fiat currency deposit and user experience optimization. The cat Meme Popcat has a market value of 1 billion but cannot list CEX, and new users still have great obstacles to using on-chain transactions. User purchasing needs are difficult to meet, and the flow of Memecoin funds is still limited to the chain. Moonshot is positioned between CEX and the chain, creating conditions for outside funds to inject on-chain Memecoin. Perhaps it will become the next application with a listing effect? This article will take you through this Memecoin trading application.

What is Moonshot?

Moonshot is an app on the App Store that allows the direct purchase and sale of Memecoin with fiat currency, and is deployed on Solana. It aims to allow Web2 users to seamlessly enter and easily experience Web 3. Its account registration adopts the common method of Web2, without the need for mnemonics, and users only need email and FaceID to register. When users conduct transactions, they do not need to understand the complex underlying knowledge of blockchain, and do not need to have Gas, and can trade directly on the mobile phone.

Charging Standard

Moonshot deposits and withdrawals will be charged by Moonpay. In addition to the Gas required on the chain, Moonshot's transaction charges also require a certain management fee, which will be charged in stages according to the transaction size, with a minimum limit.

Moonshot Advantages

Convenient Operation

The path that users usually take to buy Memecoin on Solana:

Users register a wallet address and save mnemonics - withdraw Sol from CEX as Gas and funds - withdraw to an on-chain wallet address - trade on DEX/aggregator - make a profit and withdraw SOL to CEX - withdraw funds through CEX.

During this process, users need to understand the wallet and Gas required for the blockchain, have an account on CEX and save the mnemonics on the chain, and be familiar with the DEX for trading on the blockchain.

Moonshot simplifies this path. Through the login and registration method of Web 2, transactions can be made on the mobile phone, and recharge can be made using Apple Pay/credit card/Paypal. No Gas is required for trading, and cash can be withdrawn seamlessly after making a profit. It only takes a few minutes from account creation to deposit arrival, which greatly shortens this transaction path.

Basic security attributes

Memecoin transactions are extremely risky, and there are often problems such as RUG and Pixiu on the chain. New users are very likely to encounter scams when facing the dark forest of Web 3. Before listing, Moonshot will make some screening, which will build a protective barrier for new Web 3 users.

Strong dissemination effect

Moonshot has a strong dissemination effect in Web 2. Due to the lower entry threshold and its current invitation activities, it has brought a lot of natural traffic. It has created conditions for Memecoin to go out of the circle. This strong dissemination breadth will bring a lot of wealth effects. GOAT has increased 30 times since it was listed on Moonshot.

Fund flow brings new wealth effects

In addition to the wealth effect brought by dissemination, the injection of new funds and users will bring more liquidity. Moonshot was only 3 months away from its launch in July, but it has already triggered a wide range of discussions. The simplification of the social login and fiat currency deposit process may bring more new users and new funds to the Solana ecosystem. Connect Memecoin on the chain with funds outside the circle.

New users want to buy Memecoin but don’t know how to buy it. A convenient trading platform with strong listing effect and security may be a necessity. The emergence of Moonshot may squeeze the survival space of third-tier exchanges to a certain extent, and whether Memecoin on the chain can attract greater liquidity is worth looking forward to.

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