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Lots of announcements and launches coming this week out of Singapore’s Token2049 week. Meteora’s token generation is coming in two weeks, Phantom launches a stablecoin and Drift is launching v3.

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Solana2049 week

Meteora announced at the Solana APEX Singapore conference yesterday the official date of its MET token launch: Oct. 23. Snapshots for Season 1 points were taken on June 30.

3% of MET token’s reserve will be allocated to Jupiter (JUP) stakers, pending governance approval. Both Meteora and Jupiter were co-founded by the pseudonymous founder meow.

Apps powered by Meteora’s DBC (dynamic bonding curve) and DAMM include memecoin launchpads like Believe.app, Bags.fm and time.fun.

A significant share of Meteora DEX revenues continues to be driven by memecoin trading volumes from its DAMM (dynamic automated market maker) and DLMM (dynamic liquidity market maker) programs — totalling $1.2 million in the last seven days.

While Solana’s proprietary AMMs have been gaining DEX share in stablecoin and major pairs, Meteora appears to be carving out a strong niche in long-tail assets that are difficult for prop AMMs to make markets in.

Phantom wallet launches Phantom Cash

Phantom Wallet announced yesterday Phantom Cash, a consumer payments “superapp,” alongside a new USD-pegged stablecoin called CASH — both built on Solana.

The rollout marks Phantom’s intent to compete directly in everyday crypto payments by pairing a native stable asset with a high-throughput network designed for fast, low-fee transfers. Users will be able to tap into Google and Apple Pay with the app’s built-in debit visa card.

Phantom’s massive reach on Solana could finally challenge the USDC and USDT duopoly, something PayPal’s PYUSD stablecoin hasn’t managed to do.

Stablecoin supply on Solana hit a new peak of $13.1 billion in the past week, with the lion’s share in USDC ($9.7 billion) and USDT ($2.7 billion).

ICOs, launchpads, public allocations of private rounds, and tokenized private equities are all blurring the line that distinguishes public and private markets. 

Hear the top minds in the space break down how crypto is rewriting markets.

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📅 October 13-15 | London

A message from a Grab driver who picked me up from Token2049: