Author: David, Shenchao TechFlow
On September 16, Arc, the public blockchain built by Circle itself, will officially launch its public mainnet.
This was originally a grand narrative belonging to traditional financial giants: the entire chain uses USDC as both gas fee and pricing unit, emphasizing sub-second finality; the initial validator list prominently features BlackRock, Visa, Mastercard, Standard Chartered Bank, and DTCC. In the prior presale, institutions bet $3 billion in FDV on the future of this chain.
However, with just 48 hours left until mainnet launch, what’s stirring capital is less about institutional narratives and more about an underground battle over token issuance rights at the retail on-chain level. Current data confirms this: on September 14, user enthusiasm for positioning early in Circle’s Arc chain ecosystem continued to rise, with the premium for USDC exchanges peaking at 1.8 times.
Institutions are setting up the framework for clearing and compliance in the whitepaper, while Degen traders are fiercely competing for the right to “draw fees” from this platform. PONS on Robinhood Chain has already demonstrated its wealth-creation potential—those who control the token issuance gateway can capture the most lucrative fees.
Arc has already opened early deployment to over a hundred institutions and ecosystem builders. On social media and major trading groups, what people are truly FOMOing about is the new launchpad, and they hope a leading meme coin will emerge from it.
But on Arc, while everything seems to be chasing the “next Pump.fun,” the underlying funding pipelines are entirely different. We’ve compiled key launchpads based on current market information.
(Source: Twitter user @TheMaran)
But first, it’s important to clarify that since Arc’s public mainnet doesn’t launch until September 16, how are the trading volumes circulating in the community—ranging from hundreds of thousands to millions of dollars—being generated?
The answer is on the underlying test channel.
Arc has previously opened its private mainnet (early deployment environment) to over a hundred institutions and ecosystem partners. All the transaction data currently being shared across various lists are snapshots generated within this closed environment, which has not yet been made available to the public.
Correspondingly, the platform tokens for these launchpads are also deployed on Arc’s private mainnet, with Chain ID 5042. This chain is fully operational, with contracts, pools, and trades genuinely deployed—only access is not open to the public.
The "public mainnet" on September 16 opens the gate to the same chain. Therefore, these platform tokens will still exist after the 16th, and the pools will continue—this is why many are willing to position themselves in advance.
Therefore, this early data only proves that “the pipeline of this launchpad can function,” and does not indicate that it has achieved the speculative density of a real market.
With this premise understood, let’s examine the different playstyles and approaches on each launchpad on Arc.
Mode 1: Token issuance with immediate pool locking, no curved bonding
Representative Projects:
Tolly (@tollylabs)
ArcPad (@arcpad_meme)
This approach is the most direct, bypassing the lengthy process seen on Pump.fun of fully pumping the market cap before “graduating.” After creating the token, the creator immediately deposits all tokens into a permanently locked USDC liquidity pool, enabling trading from the first block.
- Tolly (@tollylabs): Currently the platform with the most robust real trading data in the pre-deployment environment. Its buy-side fee is approximately 1%, and it is precisely allocated (about 64% to creators, 12% to the holder reward pool, 10% to the protocol, with the remainder repurchased and burned).
Data snapshot: Approximately $1.8 million in trading volume accumulated in the early environment, with the platform token $TOLLY reaching a peak market capitalization of around $2.47 million.
Platform token TOLLY (contract: 0xbc43ce8dec648ea298c4275559b81d6261c90b67)
- ArcPad (@arcpad_meme): Cleaner architecture. No internal treasury; full supply is directly locked as a single-sided Uniswap V3 position in the fee locker, with a single-address anti-snipe limit set at 2%.
Data snapshot: The clean slate comes at the cost of an extremely difficult cold start. Early conditions showed only about 15 tokens, with total trading volume under $30,000. The official launch list featured around 20 tokens, all with a market cap of exactly $3,000, each with only $10 to $20 in single trades—essentially ignored by everyone.
Mode 2: Bonding Curve Graduates, the Classic Path of pump.fun
Representative Projects:
Warp (@circlewarp)
Flipt (@Fliptfun)
This approach copies pump.fun’s model: tokens first trade on an internal bonding curve, and once they reach a market cap threshold, they “graduate” as liquidity is moved to a DEX. The benefit is that new tokens have internal support during their early stages; the downside is that success hinges entirely on graduation rates, with the curve filled with tokens that never made it.
- Warp (@circlewarp): The only curve launchpad on Arc that has successfully completed the full graduation process. It uses a USDC-denominated bonding curve, and once market cap reaches approximately $69,000, it automatically migrates to its own WarpDex with LP burn. Another feature is cross-chain: via Circle’s CCTP protocol, users can buy new tokens on Arc with USDC from Ethereum, Base, and Arbitrum in one click, with zero bridge fees displayed on the page.
Data snapshot: The official website shows 286 tokens launched and $2.15 million in total trading volume. However, breaking it down, about 84% of the volume comes from its own platform token, WARP, and only one token successfully graduated in six weeks. The graduation threshold is too high for newly launched memecoins—this is its biggest issue.
The platform token WARP (contract: 0x384c60f98ecd4c26345499345c03d677e40f115e) has a market cap of approximately $870,000.
- Flipt (@Fliptfun): The mainnet hasn't launched yet, but the testnet is live and currently has the highest interaction volume. It made a key modification to the curve: buyers receive a bonded position, not a liquid balance—they earn a share of the pool’s fees upon graduation. To exit, users must publicly queue for 90 seconds, making all large withdrawals visible to everyone. Dumping has shifted from covert operations to an open display.
Data snapshot: Graduation funding line at approximately $6,375, graduation market cap at approximately $30,000, curve trading fee of 1.25%, with 0.75% allocated to bonder. Testnet window of 48 hours, each wallet eligible for 500,000 test USDC; gold, silver, and bronze tier NFTs will be minted upon mainnet launch based on final rankings.
Platform token: None available.
Mode 3: The Social Bot Camp—launch a token with a single post on X
Representative project: Archemist (@Archemistdotfun)
This approach lowers the barrier to launching tokens to the minimum—no website needed. Simply mention a bot on X, and a single tweet is enough to create, launch, and trade the token, with liquidity automatically locked.
Its other card is creator royalties, offering up to 80% of trading fees—clearly aimed at attracting token creators.
Data snapshot: The early environment recorded approximately $337,000 in trading volume, with around 49 tokens launched, and about 77% of trading volume dependent on its native platform token, ARCH. The official website states that it has partnered with the block explorer Blockscout for token information verification, allowing users to directly verify contract details for each token on the explorer.
Notably, at the time of writing, the official website's counter showed zero trading volume and token count, likely due to a data reset prior to the mainnet switch; thus, the reliability of early trading data is diminished.
Platform token: The contract address and market capitalization of ARCH are not currently publicly available and will need to be confirmed after the mainnet launch.
Mode 4: The Uniswap V4 camp, embedding dividends into the transaction layer.
Featured projects: ubi.fun (@ubidotfun), Minara (@minarafun)
This camp is betting on Uniswap V4. V4’s Hook mechanism allows platforms to embed rules like dynamic fees, holder dividends, and automatic buybacks directly into the transaction layer, eliminating the need for token taxes. The technical narrative is the most recent among the factions, but it’s also the coldest in current adoption.
- ubi.fun (@ubidotfun): Claims to be the only Uniswap V4 launchpad on Arc, offering zero-fee token creation and distributing trading fees to creators and eligible holders, with a focus on "dividends for all holders." The official website clearly states that there is currently no platform token.
Data snapshot: No platform tokens available. On the official website’s activity feed, trades are mostly small purchases ranging from tens to a few hundred dollars, with the most recent issuance occurring six days ago. Third-party statistics show only 3 tokens accumulated in total, with approximately $4,800 in trading volume, and the holder reward pool once held just $1.38. The mechanism looks promising on paper, but no capital has yet entered to validate it.
- Minara (@minarafun): Also built on Uniswap V4, it emphasizes native USDC liquidity and low-friction token launches. There are rumors within the community that it has ties to Circle Ventures, though the team has not confirmed this—treat it as unverified. The website is live, but the token list is currently nearly empty.
Data snapshot: No platform token, no trading data. Note that third-party audits indicate its rules allow creators to take up to approximately 80% of the supply at launch—a design unfavorable to buyers, worth monitoring closely after mainnet launch.
Mode 5: Coin-Stock Pairs and Others
There are two names in the list that differ in gameplay from the four above and have a different risk level; they must be separated out individually.
- Long.supply (@Longdotsupply): It's not doing "meme vs USDC," it's doing "meme vs stock tokens."
The strategy is to first bring stock tokens (CRCL, NVDA, and even the unlisted Anthropic) into Arc via your own cross-chain bridge, then create trading pairs between these stock tokens and memecoins.
According to the official website, the platform token LONG (contract: 0x2164bb17a2d38c1b5170e987b2c0416df1efc752) has reached a market cap of approximately $3.61 million, the highest among all launchpad platform tokens, with bridge funds showing approximately $1.6 million.
However, a key concern is where these "stocks" come from. They are not compliant stock tokens like those on Robinhood, but rather tokens minted by the project team themselves: it is currently unclear who holds custody of the assets, whether genuine stocks can be redeemed, or whether the bridge can be shut down unilaterally by the team—these questions remain unanswered and can be further observed after the mainnet launch.
- act.fun (@actfunxyz): A launchpad that hadn't opened yet.
The one most skilled at timing. The platform is already up and running: its platform token, ACT, had its presale completed on its own platform, which just ended today (September 14), with both target tiers fully met—the Architect tier at a fully diluted valuation (FDV) of $50,000 and the Public tier at an FDV of $200,000.
The ACT contract has been announced (0x177b47be2782575284211A000EDA4112807288a5), with the official launch scheduled for September 16, the day the mainnet opens, alongside simultaneous availability for claiming and refunds. This effectively allows users to sell their platform tokens before the mainnet goes live.
However, on-chain code checks show that the contract owner still retains emergency withdrawal privileges. The presale being fully subscribed indicates genuine interest, but until these privileges are relinquished, the promise that "LP will be locked" remains just a promise.
In addition, the page also has some AI coding feel...
By now, it’s clear that all current trading volume and market capitalization are merely simulations generated by a few hundred addresses that entered at a premium, within a closed environment—April 16th is when the real test begins.
Due to space limitations, we couldn’t cover all the promising projects in detail; however, community analysts have compiled ratings for these launch platforms, offering a useful reference for your research and investment decisions.
(Source: @Nick_Researcher)
Overall, for these platforms, we can pay attention to the following aspects of these projects:
First, observe which launchpad shows the first independent trade of a non-platform token.
Currently, Tolly, Warp, and Archestist are all tightly tied to their respective platform tokens. The one who first launches a meme that is independent of platform tokens and gains traction through its own popularity will be the real faucet.
Second, look at whether the promises are fulfilled.
Flipt's mainnet, act.fun's LP lock-up and rights renunciation, and aka.fun's "16-day view" will all be verified or disproven within 48 hours.
Third, did the Arc chain itself experience an outage?
Whether the official RPC, browser, and Uniswap are truly open to the public, and whether USDC can move in and out smoothly, remains uncertain; we’ve seen too many makeshift operations—even with top-tier institutional backing, the real performance will only be clear when it’s live.
As a final reminder: all projects mentioned in this article are in extremely early stages, most contracts have not been audited, and pre-mainnet data does not reflect public mainnet performance. Cryptocurrency projects carry significant risk—please do your own research (DYOR).