Original | Odaily Planet Daily ( @OdailyChina )
Author | Dingdang ( @XiaMiPP )
On March 31, the Four.meme platform announced that it would conduct a major liquidity pool update (specific time to be determined), and planned to switch the platforms liquidity provision method to PancakeSwap V2. According to the official announcement, all LPs of new tokens will be destroyed directly after the launch. However, this update has also aroused doubts and concerns from the community . Some Meme coins in the V3 pool have been sold off. For example, the market value of muppets plummeted from US$20 million to US$4 million.
Odaily Planet Daily will conduct an in-depth analysis of the background, reasons, specific policy changes and community response to this migration.
Why migrate?
Four.meme’s pool migration may not be a sudden move, but rather a comprehensive consideration based on the following key factors.
First, PancakeSwap V3 introduces new features such as non-fungible liquidity (NFT Positions) and concentrated liquidity , allowing liquidity providers to provide funds within a specific price range and lock these liquidity in the form of NFTs. The advantage of this mechanism is that it improves capital efficiency because funds are only concentrated in price ranges with high trading activity, but it also brings higher technical complexity. In particular, the attack in February 2025 exposed the vulnerability of the V3 pool. At that time, the attacker extracted about $183,000 in funds by manipulating the initial price, which made Four.meme realize that the security and compatibility issues of V3 needed to be resolved urgently. In contrast, PancakeSwap V2 adopts the traditional automated market maker (AMM) model, which is simpler and more stable to operate, and the community has a higher degree of trust in it.
In addition, market feedback shows that PancakeSwap V3 often encounters price fluctuations and insufficient liquidity during and after the pool migration process. For example, the attack on February 11, 2025 exposed a vulnerability in V3s initial price verification, resulting in the withdrawal of funds; and V3s centralized liquidity mechanism may also lead to insufficient liquidity due to market fluctuations, especially in the early stages of the launch of new pools. Users and project owners hope that Four.meme can provide a more reliable solution.
In addition, the announcement mentioned that all LPs of new tokens will be destroyed after launch, indicating that Four.meme aims to simplify the technology stack and reduce security risks and operational difficulties caused by complex mechanisms. The destruction of the unallocated Meme coins in the new token LP is an attempt to optimize liquidity management and enhance market stability, aiming to reduce the circulating supply and support the market performance of new Meme coins.
Finally, Four.meme is also facing pressure from competitors such as pump.fun. In the BNB Chain Meme market, optimizing the liquidity pool policy is a key step to stay ahead. Switching to V2 and simplifying the operation process can not only reduce technical risks, but also enhance the platforms attractiveness and market competitiveness, while responding to the communitys feedback on the complexity and security issues of V3.
Policy changes for liquidity pool migration
Four.meme’s liquidity pool update brings several specific changes, as follows:
Switching from V3 to V2: All newly created Meme coin liquidity pools will directly use the PancakeSwap V2 protocol, saying goodbye to the previous reliance on V3. V2 adopts the traditional AMM model, where the liquidity pool consists of tokens and WBNB, and the price is determined by market supply and demand dynamics. Compared with V3s complex LP locking mechanism (involving price ranges and NFTs), it is more intuitive and stable.
New token LP destruction: According to the announcement, all newly launched token liquidity pools (LP) will directly destroy part of the unallocated Meme coins after going online. This change is intended to reduce the circulating supply, optimize liquidity management and market stability. For example, if 20% of the liquidity of a Meme coin is unallocated, Four.meme will destroy these tokens after migrating to PancakeSwap to enhance the scarcity of the remaining tokens.
Handling of old pools: For old Meme coins that already exist in the V3 pool, Four.meme plans to gradually migrate to V2, but the specific timetable and operation method have not yet been determined. Users may need to apply to transfer liquidity, which may involve additional fees or risks.
Security improvements: Four.meme is committed to strengthening the security of smart contracts during the migration process, including working with security audit companies to fix previously exposed vulnerabilities ( such as price verification issues and flash loan attacks exposed in the February 11, 2025 attack). In addition, the platform plans to introduce a timelock mechanism to ensure that major code updates are reviewed by the community to improve transparency and reliability.
Although these changes are intended to solve problems, they may also bring new challenges, such as compatibility issues between V2 and V3 or confusion during the user adaptation period.
Community attitudes towards relocation
Four.memes pool migration policy has sparked heated discussions in the community. Odaily Planet Daily has collected some of the communitys voices.
Supporters believe that this is a necessary reform. Some users said that switching to V2 can reduce technical complexity and security risks, and destroying some of the unallocated Meme coins of the new token LP will help stabilize the market and increase value. In addition, Four.memes emphasis on market feedback shows its sincerity in improvement and also helps consolidate its position in the BNB Chain ecosystem.
However, the opposition was equally strong, and another group of users expressed concerns. They believed that the policy change was too sudden, especially the unclear migration plan for old Meme coins, which could lead to price drops and loss of liquidity. For example, Meme coins such as muppets saw their market value plummet from $20 million to $4 million after the policy was announced, triggering a sell-off. Some users questioned Four.memes transparency, worried whether the new mechanism would expose security vulnerabilities again, and even worried that the destruction of unallocated Meme coins would affect the interests of early investors.
In addition, some users are neutral. They believe that the migration itself is necessary, but the risk is high. The community needs more information, such as a detailed migration timeline, a security audit report, and a compensation plan for old pools. If Four.meme can properly handle these issues, this reform may become a turning point for its development; otherwise, it may further shake user trust.
Overall, the discussion on the X platform reflects that the communitys confidence in Four.meme is wavering, and the effectiveness remains to be seen.
