Moonshot: Can fiat currency be used to purchase Memecoins?
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Moonshot: Can fiat currency be used to purchase Memecoins?
Moonshot — A dedicated memecoin exchange, the next Dapp with a listing effect?
Navigating Web3 tides with focused insightsBy shaofaye123, Foresight News
Moonshot has recently attracted significant attention. Amid the current memecoin supercycle, an increasing number of projects and users are participating. Moonshot's emergence at this moment goes beyond simply enabling fiat on-ramps or improving user experience. Take Popcat, for example—its market cap reached $1 billion yet it remains unlisted on any centralized exchange (CEX), while new users still face major hurdles when attempting to trade on-chain. User demand for purchasing memecoins remains largely unmet, and capital flow within the memecoin ecosystem is still confined to on-chain activity. Positioned between CEXs and on-chain trading, Moonshot creates a pathway for off-chain capital to enter the on-chain memecoin space. Could it become the next application with strong listing effects? This article provides a quick overview of this emerging memecoin trading app.
What is Moonshot?
Moonshot is a mobile application available on the App Store that enables users to directly buy and sell memecoins using fiat currency, built on the Solana blockchain. It aims to allow Web2 users to seamlessly transition into Web3 with minimal friction. Account registration follows familiar Web2 patterns—no seed phrases required. Users can sign up using just an email address and FaceID. They don’t need to understand complex blockchain mechanics or manage gas fees; all trading can be done directly from their smartphones.
Fees
Deposits and withdrawals on Moonshot are processed through MoonPay and incur associated fees. In addition to standard on-chain gas fees, Moonshot charges a management fee for trades, which scales according to transaction size and includes minimum thresholds.
Advantages of Moonshot
Seamless user experience.
The typical process for buying memecoins on Solana involves multiple steps:
User registers a wallet and securely stores seed phrase — withdraw SOL from CEX for gas and funding — transfer SOL to on-chain wallet — trade via DEX or aggregator — withdraw profits back to CEX — cash out through CEX.
This process requires users to understand wallets, gas mechanics, possess a CEX account, securely manage seed phrases, and know how to navigate DEXs on the relevant blockchain.
Moonshot dramatically simplifies this journey. Using Web2-style login and registration, users can trade directly from their phones, funding accounts via Apple Pay, credit card, or PayPal. No gas management is required, and profits can be withdrawn seamlessly. From account creation to deposit confirmation takes only minutes, drastically shortening the entire onboarding and trading cycle.
Basic security safeguards.
Memecoin trading carries high risk, and the on-chain space is often plagued by scams such as rug pulls and貔貅 (a type of scam token that prevents holders from selling). Newcomers venturing into the "dark forest" of Web3 are especially vulnerable. Moonshot mitigates some of these risks by conducting preliminary screening before listing any token, effectively creating a protective layer for new Web3 users.
Strong virality potential.
Moonshot exhibits strong viral growth within Web2 audiences. The lowered entry barrier, combined with its ongoing user referral campaign, has generated substantial organic traffic. This broad reach creates ideal conditions for memecoins to go mainstream. Such virality can generate significant wealth effects—GOAT, for instance, surged 30x shortly after being listed on Moonshot.
New liquidity driving wealth creation.
Beyond the wealth effects driven by virality, the influx of new capital and users enhances overall liquidity. Though launched only three months ago in July, Moonshot has already sparked widespread discussion. Its simplified social login and fiat onboarding process could bring substantial new users and capital into the Solana ecosystem, bridging the gap between on-chain memecoins and external capital.
Many new users want to jump into memecoins but don’t know where to start. A secure, easy-to-use platform with strong listing effects may well become essential. Moonshot’s rise could pressure smaller-tier exchanges, while the broader question remains: can on-chain memecoins attract significantly larger liquidity moving forward?
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