Boop.fun Sparks Controversy With Cult-Like Token Promotion

Boop.fun, a new token launch platform, has sparked controversy by encouraging users to create and promote their own "cults" around their tokens. The platform's marketing strategy, which openly embraces the degen culture, has drawn comparisons to Pump.fun, another token launch platform. Boop.fun uses Solana and Raydium for its token operations, similar to Pump.fun's previous setup before it migrated to PumpSwap.

Boop.fun's namesake token, BOOP, is being distributed to "cult" members and token creators. Staking 100 BOOP tokens awards stakers 60% of trading fees from graduated tokens and a 5% airdrop of every graduated token’s supply. The platform has also adjusted its token allocation, with 50% of the BOOP supply going to token creators and the other 50% to token buyers, who are referred to as "cult members."

The platform's marketing language is explicit and provocative, with phrases like "Just create a cult, shill the shit out of it, and cash innnnn" appearing on its website. Boop.fun also promises 50% of its BOOP supply to "the real ones in the trenches," which includes memecoin bagholders and hot X account holders. One of the pages on the site declares: “VCs and insiders can go fuck themselves.”

Despite its controversial marketing, Boop.fun has attracted several high-profile crypto influencers and personalities. Su Zhu, co-founder of the now-bankrupt Three Arrows Capital, launched a ZHU token via Boop.fun. Cole “ColeThereum” Villemain, creator of the Pudgy Penguins NFTs, also launched a token dubbed “gf” on the platform. Other influencers like Irene Zhao, Orangie, Deez, Nick “ChooseRich” O’Neill, and KookCapital have also dropped their own "cult" tokens on Boop.

Three tokens on Boop have market caps of over $1 million: Boopa (a dog coin), Kuma, and Beevo (a beaver coin). Some token creators on the platform have explicitly warned users not to buy their tokens, with messages like “Farming airdrop do not buy” in all-caps. The project’s official FAQ section includes cursing and offensive language, which may be off-putting to some users.

The real-world identity of Boop.fun's creator, who goes by “Dingaling” on X, has been a subject of speculation. Dingaling claims to have held high-level roles at Binance and PancakeSwap, but these claims have been called into question. A cryptic tweet from Binance CEO Changpeng “CZ” Zhao further fueled speculation about Boop’s creator, although no concrete proof has surfaced.

Boop.fun's approach to token creation and promotion has been criticized for not moving the crypto industry forward. The platform's strategy of incentivizing users to create tokens with little to no effort has been compared to other platforms like Pump and Zora. Boop.fun allows users to create a token simply by sending a tweet to the Boop bot, raising questions about the platform's long-term viability and impact on the crypto ecosystem.