A fairer way to start? Detailed explanation of the first Memecoin startup platform in Unichain ecosystem Pure

Author: Nianqing, ChainCatcher

In February this year, with the exposure of LIBRA and the Cabal, the carnival era of Pump.fun and Memecoin officially came to an end.

Memecoin was originally an interesting and relatively pure PvP game, but with the "industrialization" of issuing coins, Memecoin has evolved into a predatory game dominated by internal "cabals". At first, the occasional wealth effect could temporarily obscure the manipulator's manipulation methods, but the gamers became increasingly greedy, retail investors were repeatedly cut off, and liquidity eventually dried up, and no one was willing to participate in such a game again.

In addition, except for the cabal. Currently, many token issuing platforms (including Pump.fun) face serious fairness problems, such as the existence of a large number of sniper robots and fake trading volume robots, and tokens are snapped up at low prices to push up prices, forging market trends, and attracting retail investors to take over.

Memecoin obviously needs a fairer way to start.

Multicoin managing partner Kyle Samani once asked a question: Is there an initial price discovery of the memecoin startup platform through auction?

At present, DeFi protocols such as Hyperliquid have introduced Dutch auctions in issuance strategies to improve the fairness and transparency of token issuance and reduce internal transactions and price manipulation, but they are not targeted separately for Memecoin assets.

Pure Markets, the first native token startup platform of the Unichain ecosystem, is a startup and trading platform built for a purer Memecoin. Pure uses Uniswap v4's "hooks" feature to perform liquidity-guided auctions in hook contracts, aiming to enable tokens to quickly find a fair market price. In addition, Pure is based on the bond curve dynamics taken by the Netherlands, which can prevent robots from jumping out.

Pure is mainly supported by the Doppler protocol. The Doppler agreement was developed by Whetstone Research and completed a $1.3 million Pre-Seed round in February this year. A core member of Whetstone is also a researcher at Uniswap Labs.

Unichain ecosystem's first native token launch platform

In mid-February, Unichain mainnet was officially launched. Unichain is an L2 designed specifically for DeFi. It cooperates with Flashbots to use a trusted execution environment (TEE) to build blocks. Its goal is to improve market efficiency and fairness by capturing maximum extractable value (MEV) and protecting users from problems such as preemptive transactions.

Pure Markets is the first native token launch platform in the Unichain ecosystem. It was launched after the Unichain main network was launched, and has also expanded to Kraken's L2 ink and Coinbase's L2 Base.

Currently, Pure Markets has fewer assets, after all, Unichain's main network has only been online for more than a month. Its Twitter currently has only more than 1,000 followers. Most of the well-known followers are the Uniswap team and relevant personnel of the ecosystem, including Hayden Adams, CEO and founder of Uniswap Labs. pump.fun Lianchuang alon also paid attention to this early competitive product project.

Pure Markets has very little information officially disclosed, but based on interactions with other projects, Pure Markets should be founded by Whetstone, the developer of Dopple r protocol. In addition to Pure Markets, the Doppler protocol is also worth paying attention to. Ohara, the Base ecosystem’s application and game creation and asset trading platform, also uses the Doppler protocol, which supports users to create applications and publish App coin assets in one-stop.

Doppler: The protocol behind Pure

Pure Markets application is mainly supported by the Doppler protocol and is also the first front-end application built based on the Doppler protocol.

Doppler is a token startup platform and liquidity boot protocol based on Ethereum virtual machine (EVM), which supports the creation of any assets such as Memecoin, RWA, and governance tokens. Doppler simplifies the work of integrators by simplifying liquidity-guided auctions in hook contracts using Uniswap v4's "hooks" feature. This design is designed to optimize the liquidity delivery process, helping users get more accurate pricing at lower costs while retaining more token value.

The on-chain protocol development team Whetstone Research designed and developed Doppler. Austin Adams, one of the founders of Whetstone Research, was a former researcher at Uniswap Labs and contributed code to the development of Uniswap v4. He is currently a consultant to Uniswap Labs and is also working on leadership mechanism design in Whetstone Research. In addition, Whetstone’s team members include experts who have worked in other well-known DeFi projects such as Primitive, who are closely linked to the Uniswap ecosystem.

In February, Whetstone announced the completion of a $1.3 million Pre-Seed round, with investors including Variant, Nascent, Creditbing Neutral, Uniswap Ventures, Ambush, Figment and several angel investors.

According to official documents, Doppler design principles are as follows:

• Capital Efficiency: Doppler, like Uniswap, has been particularly optimized to enable tokens to quickly find a fair market price.
• MEV Protection (Counter-Sniper): Based on the dynamics of the bond curve taken by the Netherlands (the starting price is high and then gradually decreases over time until a buyer is willing to buy at the current price), it can prevent the robot from jumping out.
• Programmability: Smart contracts are entirely on-chain and can be combined with other programs. The project party can design how to issue and manage coins by themselves, such as setting a vesting period, airdrop rewards, incentive mechanisms, DAO management, etc.
• EVM and DeFI native: Based on EVM (Ethereum virtual machine), it can automatically integrate with the DeFi protocol on Ethereum, and the tokens issued can be directly integrated into larger protocols and pools.
• Uniswap Compatibility: Tokens created on Doppler will automatically migrate to their own Uniswap v2 or Uniswap v4 pools after reaching a specific liquidity and can be traded from a Uniswap-supported interface.