Genesis Meme Coin Craze: The Success of VIRGEN and NOTHING and Market Self-Regulation

Recently, there have been some notable developments on the Genesis Launches platform. Although the project quality on this platform varies, it is not common for projects to directly launch meme coins, and even if they do, they are usually not given much attention.

However, this situation has changed recently. A well-known AI Agent Vader launched a meme coin called VIRGEN on the platform, which is a meme coin publicly issued by a well-known team, attracting widespread attention.

The issuance mechanism of VIRGEN demonstrates a friendly attitude towards the community. In addition to the presale and liquidity portions, it also provides airdrops for staking users in the ecosystem and some classic meme coin holders. Notably, this token has no lock-up period, which means that once it is successfully released, participants can profit immediately after it goes live.

Despite concerns about a crash, VIRGEN's performance has been surprising. After its launch, it not only did not crash but continued to rise. The team also conducted additional airdrops for loyal presale participants and carried out token buybacks in the market, making VIRGEN quickly become the top meme coin in the ecosystem.

Following closely, another meme coin NOTHING has also attracted attention. It is not just a simple meme coin; it offers a unique feature: the ability to "permanently" lock tokens, allowing stakers to continuously earn points from participating in platform sales. The successful launch of NOTHING and two additional airdrops exceeded market expectations.

The success of these two meme coins is attributed, on one hand, to their generous mechanism design, and on the other hand, to the sincerity and actions of the team behind them, which stands in stark contrast to most meme coins that primarily aim for profit.

However, such successful models are difficult to replicate, and excellent teams are also rare. Therefore, people begin to worry that these successful cases will attract a large number of mixed-quality projects, which may disrupt the overall atmosphere of the ecosystem.

In the face of this situation, the ideal solution is to maintain the permissionless nature of project issuance while allowing market mechanisms to naturally eliminate inferior projects. This requires a group of high-quality participants who can resist bad projects through their actions.

It has been proven that the market indeed demonstrates this self-regulating ability. After VIRGEN and NOTHING, several uninspired meme coin projects attempted to launch, but were quickly neglected by the market. The first one was successfully launched, but its price plummeted after going live; the subsequent projects were simply ignored by the market.

This market reaction is reassuring, demonstrating the maturity and judgment of the participants. If this atmosphere and mechanism can be sustained, it will help the platform to form a unique culture and strong competitive barriers, distinguishing it from other similar platforms and maintaining vitality and appeal in long-term development.