Can you still make money by burning meme coins? Junk Fun launches on Solana, offering $75,000 in rewards.

The Junk Fun platform has officially launched on the Solana Mainnet, offering an innovative service that allows users to effectively clean up invalid or worthless meme coins in their wallets and convert them into actual rewards. (Previous context: Meme coin alchemy? With the launch of Junk.Fun, can the Solana Memecoin graveyard be turned into gold?) (Background supplementary: Commentary on attention arbitrage: Meme coins are the most honest narrative in the crypto market.) After a two-day invitation-only pre-launch event, Junk Fun has accumulated a prize pool of over $75,000 and has officially launched on the public Mainnet. The platform offers users an innovative way to clean up any invalid meme coins on Solana in their wallets and earn rewards from it. During the pre-launch period, Junk Fun's daily active users (DAU) surged to 20,000, indicating a high market interest in the new model for cleaning up a large number of useless meme coins in Solana users' wallets. The Junk Fun prize pool mainly comes from two parts: one part is a SOL reward pool that continuously grows as users transact (destroying meme coins and opening reward chests); the other part is the initial rewards provided by its creators Manta Network and Bonk. Winning method: weekly lottery Each season lasts for one week, and prizes will be distributed from the total prize pool. The prize pool for the first season is currently valued at about $40,000. Junk Fun expects that as the season progresses, the prize pool will significantly increase next week. Users can use points to participate in the weekly prize pool lottery, and results will be announced at the end of the season. Winning method: opening treasure chests Users will receive credits after destroying meme coins (referred to as 'junking' on Junk Fun). These credits can be immediately redeemed for small SOL rewards or used to open treasure chests. The treasure chest prizes currently include 'points' that can be used for the weekly lottery and rare SOL rewards. SOL rewards will be distributed in the form of credits, which can be redeemed for SOL at any time. During the two-day pre-launch event, SOL rewards worth about $3,000 have been distributed through opening treasure chests. A continuously growing reward pool (currently valued at about $7,000) will continue to provide rewards for users in the future. The remaining $25,000 in rewards will be reserved for the next two seasons. As more users participate, Junk Fun's total reward pool will continue to grow. How Junk Fun works The operation mechanism of Junk Fun is an innovative application of Solana's Rent mechanism. The so-called 'Rent' is a small fee that Solana users need to pay when storing data on-chain (such as purchasing meme coins). When that storage space is released (e.g., selling meme coins), the rent can be refunded. Junk Fun collects these rent refunds by batch processing the token destruction process for users (approximately 0.002 SOL can be refunded for each meme coin). These rent refunds will be converted into users' credits after deducting a 2.3% platform fee. The platform fee will be used to expand the prize pool and for platform operations. Users can redeem credits for SOL at any time, or use them to open treasure chests to gain 'points' and additional 'credits' (also redeemable for SOL). 'Points' can be used to participate in the weekly lottery and redeem other undisclosed prizes. About Junk Fun Junk Fun is the world's first meme coin recycling platform that can convert invalid tokens into valuable rewards. It helps users clean up their assets by automating the destruction of invalid tokens in their wallets. Junk Fun is now live on Solana and is supported by Bonk and Manta Network. Related reports Investment psychology: What drives us to leverage fully and go all in on meme coins? Learning Chinese in the crypto world? From 'Binance life' to 'Solara,' an article summarizes the development of the Chinese meme craze. Narrative vs. practical: Which type of token is more worthy of investment? 'Can destroying meme coins still make money? Junk Fun launches on Solana, offering $75,000 in rewards.' This article was first published in BlockTempo, 'The most influential blockchain news media.'