Despite the overall market environment, there are always vibrant local hotspots in the blockchain space. Today, the time tokenization platform time.fun on Solana has caught the attention of market players and received explicit support from Solana's official team. Early this morning, the Solana official account tweeted to promote time.fun, mentioning that several members of the Solana Foundation have created their own time tokens.

By noon, Solana co-founder toly also created his own token on time.fun, which reached a market cap of $20 million at its peak before falling to $6.7 million. He also commented on X platform that time.fun is interesting. So, how does time.fun operate, and what are the specifics of its gameplay? Odaily Planet Daily will provide a brief introduction in this article for readers' reference.

Introduction to time.fun Platform: Time Tokenization, an Advanced Version of friend.tech

Established in 2024, time.fun is a platform that tokenizes time, similar to friend.tech, allowing KOLs or influencers to tokenize their time/influence and connect with their fans. However, unlike friend.tech, KOLs on time.fun can set prices for private messages, group chats, voice/video calls, which users need to spend the corresponding number of tokens to redeem. If a KOL does not respond to a private message or call invitation within 5 days, the time tokens spent by the user will be refunded.

When users trade time tokens, a transaction fee is generated, with the majority automatically deposited into the time.fun address of the token issuer. At the same time, when users redeem minutes to access the KOL's services, these tokens will return to the liquidity pool, and the issuer will receive over 94% of the redemption value.

time.fun completed a $3 million seed round in August 2024, led by Brevan Howard Digital, with participation from Coinbase Ventures, Breed VC, Zee Prime Capital, and Arthur Hayes' family office Maelstrom, as well as angel investors including Solana co-founders Anatoly Yakovenko and Raj Gokal, Helius co-founders Mert Mumtaz and Santiago Santos.

Originally operating within the Base ecosystem, time.fun migrated to Solana in November 2024. Speaking on the reasons, Time.fun co-founder 0xKawz said that over the past year, Solana has dominated in most aspects. Meanwhile, the Ethereum ecosystem has felt tired. In most cases, they only care about technology and have an arrogant mentality... Ethereum feels like a group of philosophers looking down on ordinary people. If Ethereum cannot solve its cultural issues, as more builders like Time.fun choose to migrate, Solana will continue to dominate.

Gameplay Introduction: Still the Core of pump.fun

The gameplay on the time.fun platform is actually quite simple and similar to pump.fun, with an internal and external market. The price per minute of a user's time is traded within the platform's internal market first, and when progress reaches 100%, it is launched into the external market, with liquidity also moving from the bonding curve to Raydium. Unlike pump.fun, however, the maximum supply of tokens created on the time.fun platform is 100,000.

Currently, creating tokens on time.fun is not permissionless; one needs to contact the team to do so, which means ordinary users can only participate in buying and selling others' tokens on the platform. The specific operations are as follows:

Depositing Funds into time.fun Platform

The time.fun platform requires email registration, and after registering, users can link their X account. Once registered, each account automatically generates a non-custodial address. time.fun operates on the Solana network but uses USDC for all transactions, so players need to transfer USDC to the address generated for their account.

Click on the avatar in the top right corner, pull down and select "Deposit funds" to send USDC from an exchange or other chain address.

Can time.fun, the Time Tokenization Platform Backed by Solana, Start a New Trend?

Trading on time.fun

Generally, once someone's token is launched into the external market, it can be traded using conventional trading tools, such as GMGN, etc. Therefore, for tokens that have been launched, it is recommended to use other conventional Solana trading tools to purchase, as the time.fun platform currently has a poor buying experience. The author personally tried and failed several times. However, it's worth noting that even if the address only has USDC and no SOL for Gas, the purchase can still be successful.

Click "Explore" at the top of the platform, and you can see all tradable tokens and categories by pulling down.

Can time.fun, the Time Tokenization Platform Backed by Solana, Start a New Trend?

Randomly click on a token that is still in the internal market, as shown in the image below, the current bonding curve progress is 47.53%, with a price of $0.48 per minute. If a player wants to send a private message, they need minutes worth $20. Players can choose the number of minutes they want to purchase on the right side.

Can time.fun, the Time Tokenization Platform Backed by Solana, Start a New Trend?

The Return of Celebrity Coins?

In summary, time.fun can be seen as a platform for issuing celebrity coins with added holder benefits, suitable for KOLs, paid knowledge communities, and entertainment streamers based on the rights provided by the platform.

Celebrity coins are not new in the history of blockchain; the popular friend.tech in 2023 supported KOLs selling personal shares within the platform, which was an early form of celebrity coins. Originally created for influential figures to build private communities and improve the quality of received information, it eventually evolved into pure speculation on KOL influence and price manipulation, with little attention to content creation on the platform.

By the time of pump.fun, celebrity coins were laid bare. Entertainment stars, web2 entrepreneurs, political celebrities, and even presidents were rushing to issue coins on the chain, monetizing their influence. It wasn't until the "savior" Argentine President issued LIBRA and harvested over ten million dollars that the market finally lost its fascination with celebrity coins, at the cost of the meme market's collapse.

time.fun co-founder 0xKawz has said that asking celebrities to randomly issue tokens without any process, practicality, or plan is short-sighted. Celebrity/social tokens are inevitable but should be placed on a platform with a revenue source and practicality. Celebrities do not need to buy/sell their tokens to earn income, and they can provide structured products for fans. As users, they can speculate on celebrity tokens for profit or use the token to gain exclusive access to them.

With Solana's strong push, can time.fun change the market's poor impression of celebrity coins, take over the baton from pump.fun, and carry the next big flag for Solana? We'll have to wait and see.