Dumpy.fun — a solana platform to short memecoins

[libert19]

Looked interesting so I'm sharing it here. Dumpy is from developers of popular Solana defi platform Save(formerly Solend).

Website: https://dumpy.fun

Launch on 30th July.

[milewilda]

Looked interesting so I'm sharing it here. Dumpy is from developers of popular Solana defi platform Save(formerly Solend).

Website: https://dumpy.fun

Launch on 30th July.

Pumpfun
Dumyfun
Moonshot

Any of these platforms on which i dont really tend to deal up with these things. Why? most of projects launched into these places do really have that almost 100%
of rug projects on which this isnt something that i dont really like on dealing with. We do know tht when it comes to risks levels then dealing with
meme coins could really be almost considered as gambling if you are really that not wary of it.

[libert19]

Beta now live: https://dumpy.fun/

Beta password to access: dumpitto0

Ann (Recommended to read): https://x.com/dumpydotfun/status/1818272425680982043

Early users will be eligible for airdrop of $DUMP.

Permisionless listings will make this actually interesting, and potentially make it explode.

[TomPluz]

Looked interesting so I'm sharing it here. Dumpy is from developers of popular Solana defi platform Save(formerly Solend).

Although I would say I am not really into memecoins as we do not know which will make it and will not among so many new projects competing for people's attention and support but just like you I find this Dumpy thing really interesting. Just like its name is suggesting, how this works is that "dumpy.fun lets you short the shitcoins destined for zero. Shorting works by selling borrowed tokens. Later, when the price has (hopefully) gone down, you can close the position at a profit by buying back and repaying the loan. dumpy.fun uses Save for borrowing and Jupiter for selling." I guess this is something new to me and if this one can be making some big gains and support it would explode in no time at all. Let's see how the market would be reacting to this project and if this can be making some good traction.

[yhiaali3]

Honestly, I didn't understand at first what dumpy.fun is, but I got some useful information. It might be something new and interesting about shitcoin, but it also contains many risks as mentioned by the site:

There are a few risks to consider when shorting on dumpy.fun.

Liquidation risk is the risk that your dump position is liquidated due to insufficient collateral from the market moving against you.

Oracle risk is the risk that the oracle quotes an incorrect price, causing liquidation when itshouldn't have.

Squeeze risk is the risk that cascading short liquidations cause forced buying pressure, causing a rapid increase in price.

For lenders, there is a different set of risks.

Utilization risk is the risk that withdrawals are not available due to all the tokens being lent out.

Bad debt risk is the risk of some accounts being left with more debt than collateral after liquidation, which may result in a socialized loss.

Source:What are the risks?

This is a high amount of risk that should be taken into account when using dumpy.fun

[Yamane_Keto]

lets you short the shitcoins destined for zero. Powered by Save.

Isn't this a scam as it is difficult to know the trends of shitcoins and hence shorting them will be very difficult.
The project is in beta stage and it seems that by restricting access they will limit it to specific subscribers.

Pumpfun
Dumyfun
Moonshot

I thought you were joking but are these serious projects?

[albon]

Beta now live: https://dumpy.fun/

Beta password to access: dumpitto0

Ann (Recommended to read): https://x.com/dumpydotfun/status/1818272425680982043

Early users will be eligible for airdrop of $DUMP.

Permisionless listings will make this actually interesting, and potentially make it explode.

I already got the $Dump token for free which was distributed to me by the duck project. Duck project has already introduced their telegram mining where they give dump token rewards for duck token staking. Moreover $DUMP token is already listed on uniswap exchange where buying and selling is going on. I have already received 200m $dump token gift by participate launchpad i think you are analyzing this token.

[libert19]

Beta now live: https://dumpy.fun/

Beta password to access: dumpitto0

Ann (Recommended to read): https://x.com/dumpydotfun/status/1818272425680982043

Early users will be eligible for airdrop of $DUMP.

Permisionless listings will make this actually interesting, and potentially make it explode.

I already got the $Dump token for free which was distributed to me by the duck project. Duck project has already introduced their telegram mining where they give dump token rewards for duck token staking. Moreover $DUMP token is already listed on uniswap exchange where buying and selling is going on. I have already received 200m $dump token gift by participate launchpad i think you are analyzing this token.

Uniswap? I don't think it's same $DUMP we are talking about, since dumpy.fun's $DUMP is solana based token, you wouldn't see it on Uniswap.

[Mr. Magkaisa]

      -     It is almost similar to the concept of pump.fun, which has been trending in the market recently. almost all coins that are created on the platform are meme coins.

And most of those listed here end up being rug pulls, and the worst part is that they are also prone to hackers, so probably in a short period of time they will be exploited for sure, similar to what happened with Pump.fun.

[Captain Corporate]

They are basically trying to make anything stick to make some money. I believe that we are going to end up with something not that great in the end, but for the time being it has to be something that will take a while. I believe that we are going to end up with a good return one way or another, and should be considered not that awesome for the long term if we keep on trusting these people. I know that a lot of people want to make something happen with this, but the reality is that we are going to probably end up with a loss instead, makes much more sense and we should avoid these.

[akeemqaz]

Honestly, this is good. Instead of buying, you short useless memecoins. Especially the ones you are sure of losing value. Most memecoins are Rug pulls and we know that. Except the ones created by known people which is even rare not to also be a rug pull.

[TryNinja]

Actually a no brainer for making money when the market goes bananas.

Is the borrow rate fixed, though? Because when the market goes down, the tendency is for the funding rates to go negative very quickly, meaning the borrow rate usually increases to a point where you're bleeding whatever profit you have with every day. I imagine it's very expensive to short memecoins.

[Faisal2202]

Pumpfun
Dumyfun
Moonshot

Any of these platforms on which i dont really tend to deal up with these things. Why? most of projects launched into these places do really have that almost 100%
of rug projects on which this isnt something that i dont really like on dealing with. We do know tht when it comes to risks levels then dealing with
meme coins could really be almost considered as gambling if you are really that not wary of it.

Thanks for sharing your views on it because I never used any of these before and I even can't find the website links to Pumpfun and Moonshot sites. I have checked the Dumyfun site in order to open a short trade we have to connect our wallet to the site first and then we have to select the token from the list if it's available then we can short it.

There are some risks involved that they have added in their FAQs and one of them was about oracle risk, I did not correctly understand what it is. But overall we should not be doing short trading on meme coins although it looks very promising at first sight to make money because most of the meme coins failed and they lost their value but what if there is no liquidity at all for that token then we will be rug pulled as you aforementioned.