Goblintown Invades Solana: Meme Coin Mania Hits the Trenches
Solana's blockchain just got weirder—and potentially wilder. The infamous Goblintown NFT project is launching a meme coin on the high-speed network, dragging its signature brand of chaotic absurdity into the DeFi trenches.
Why This Matters
Meme coins thrive on two things: hype and low fees. Solana delivers both, making it a perfect breeding ground for the next wave of 'utility-optional' tokens. Goblintown's cult following could turn this into another 'buy the rumor, sell the news' spectacle—or at least a entertaining dumpster fire for degens.
The Fine Print
No roadmap. No promises. Just vibes and a Solana address. Classic crypto innovation—where 'building' means slapping a troll face on a token and watching the gas fees roll in.
Bottom Line
Another day, another meme coin. At least this one comes with built-in meme assets (those goblin faces aren't pretty). Just remember: in crypto, the line between 'community token' and 'exit liquidity' is thinner than a Solana validator's profit margins.
Image: Truth Arts
Additionally, instead of granting a fully vested allotment of tokens to NFT holders, GOB will vest every second over the course of 24 months, with claims available weekly. (Company and team members have a 30-month vest, with a six-month cliff.)
And that allotment is not designed to be an immediate exit point for holders, as Goblintown aims to launch small—or with a low market cap and tight circulating supply—as opposed to other token launches which may seek to launch with higher market caps and token supplies, offering their communities a strong day one stimulus and exit point.
Launch mechanics for other recent meme coins have created “misaligned incentives” between the community and the project, according to Taub, who said that they can seem to be designed “to be done day one.”
“If I’m holding it, I’m sort of a sucker,” said Taub of launches that pair high valuations with a fully vested allocation on day one. "We're trying to take the reverse approach.”
Beyond the token allocations, Taub indicated that Goblintown will be doing its best to deal with snipers, a problem that has plagued Solana meme coins, allowing individuals or bots to snag a coin and create lots of sell pressure shortly after launch.
To do so, GOB launched in stealth without a pre-announcement, and directly via the Goblintown community to start. That—coupled with the small percentage of tokens available on day one—isn’t a perfect solution, but “should get us most of the way there,” the project’s GOB Green Paper reads.
Last but not least, the project will address what it calls the “silent killer”—poor liquidity management—by implementing a 2.5% token tax designed to replenish the liquidity pool, help with operations and marketing, and create a deflationary flywheel with buybacks and burns. In other words, with every transaction a small tax or “fee” will be redirected to the team to support the future of the token.
“We realized the solution is just a smart and balanced token tax that just gets reinvested back into the token,” Taub said, highlighting the innovation and early success of other token tax examples like that of Safemoon—“before all the crime,” he joked.
Individually, each component of the GOB token design has been implemented before elsewhere. But Taub and team think this combination will help sustain their token.
“People have done vesting before, people have done token taxes before, they’ve done things to try and elbow out snipers,” he said. “They just haven’t ever been all put together, specifically for a meme coin for an NFT project.”
“We think the market is sort of dying for and hungry for a new token design,” Taub continued. “That’s not a guarantee that it’s going to work, but if you can figure out a better design than what people are currently doing and get the demand, it could work.”
Goblintown burst onto the scene in 2022 following a plunge in NFT demand, turning a free mint on ethereum with no utility, roadmap, or Discord into a pricey collection with a rabid, urine-obsessed community, using fun marketing gimmicks and the absurdity of the collection to spread the brand. It has since expanded into gaming, as well.
It’ll use some of those tactics once more, launching with a TikTok filter called “Sell the Top” to promote the brand, and Telescram, a real hotline encouraging callers to leave detailed messages with love or hate for the token.
“We just think this at least has potential,” said Taub. “It could die because nobody cares about it; it’s an attention game. But at least we're giving it a punter’s chance.”
