Uniswap Unveils Memecoin Launchpad Pools.Trade on Robinhood Chain, Boosting FRONG Token Valuation

The much-anticipated launchpad for memecoins by Uniswap, well-known for its decentralized exchange protocols, has been opened on the Robinhood Chain. The platform, titled ‘pools.trade’, became operational on August 5, just four and a half hours after the public countdown it had set expired.

FRONG tops the chart

The most valuable token listed on the launchpad goes by the name FRONG. It was minted six days before the platform’s opening using the same contracts. The FRONG coin happens to share its name with a video clip that was used by Uniswap as a teaser for the upcoming launch. With a fully diluted valuation of $12.1 million and $1.1 million in liquidity, FRONG has seen a trading increase of 31.9% on the launch day, with its price hitting $0.0121. Pools.trade revealed that the 24-hour trading volume had reached a stunning $20.6 million while the cumulative volume since the platform’s opening was estimated to be $60.96 million. These numbers are inclusive of 172,694 buy orders from 12,206 wallets and 152,183 sell orders from 10,942 wallets. The FRONG community already boasts over 12,000 holders.

Uniswap Labs behind Pools

Uniswap’s new product, Pools, was built by Uniswap Labs. However, the company confirmed that it had not independently verified or reviewed any tokens or projects being displayed on the platform. They clarified that the mere listing of a token should not be viewed as an endorsement, recommendation, or solicitation. Uniswap declared that Pools is specifically intended for memecoins, which are essentially speculative and highly volatile assets.

Uniswap’s Mysterious Countdown

Uniswap’s official account posted a countdown along with a link to pools.trade on August 4. The post featured a night-vision video of a frog by a pond with an overlay of a timer counting down from 24 hours, which garnered 1.1 million views. Hayden Adams, founder and CEO of Uniswap Labs, humorously replied to the post after 91 minutes with: “wait what’s this about?”

Memecoin launchpad launched after delay

Even though the anticipated launchpad was supposed to open after 24 hours, it was still being deployed 2 minutes before the countdown ended. Hayden Adams requested patience from the community and reassured them by posting: “gonna be another ~hour/appreciate the patience and stay tuned.” The launchpad was finally live after 4 hours and 39 minutes of the countdown ending, though it was classified as a Beta version with some pages not fully operational. The official announcement of the launch followed nearly 2 hours later.

FRONG and other tokens

With a fixed supply of one billion ERC-20 tokens, FRONG, processed in the same block as Uniswap v4 pool creation, was just one of the many memecoins that surfaced on the platform. Also, topping the trending list were tokens named pools.trade, ChowdLaunch, Unicorn Pegasus, ABE, and Unifrog, the valuations for which ranged from $428,300 to $2.3 million.

Robinhood Chain by the numbers

Robinhood Chain has shown impressive activity since its launch. The total value locked in the chain is estimated to be $426.9 million. The chain logged $322.8 million in DEX volume on the day before Pools was launched. Uniswap’s own v3 and v4 deployments are the chain’s two most substantial sources of volume. Memecoin trading, instead of tokenized stock trading, has been credited with driving activity on the chain, which was initially designed for the latter. Also noteworthy is the trade performance of UNI, Uniswap’s native token, which was up 3.8% over 24 hours, with a market capitalization of $2.52 billion and $249 million in 24-hour volume. Uniswap’s move in courting memecoin enthusiasts reflects a major shift in crypto trading dynamics. While time will tell if this strategy pays off, there’s no doubt that Uniswap has positioned itself at the center of the fast-paced world of memecoin trading.