A Meme Token's Record Presale

Forward the Original Title: “The Living Meme” PAIN: A Crypto-Cultural Experiment from Pain to Prosperity

Pre-sale attracts $38 million, a quick look at PAIN’s journey

Pre-sale Timeline: $38 million Raised in 48 hours, 80% Refund, Triggering Market Controversy

On February 2, 2025, the crypto community witnessed a highly anticipated meme coin presale. PAIN, incubated by Memeland, amassed 186,000 SOL (approximately $38 million) in just 48 hours, ranking among the largest meme coin presales ever. However, in a surprising move, the project team later announced an unprecedented decision: refunding 80% of the raised funds while retaining only 20% for launch and liquidity provision. This decision sparked heated discussions about the project team’s “sincerity” and catapulted PAIN into the spotlight.

Origin: From “Forced Smiling” to Crypto Symbolism

PAIN draws inspiration from the classic internet meme Hide the Pain Harold, based on Hungarian photographer András Arató. In the early 2000s, his expression in a stock photography advertisement—featuring a smile concealing deep-seated pain—became a widely recognized internet symbol due to its stark contrast. Over the past decade, Harold’s image has been extensively used to express life’s struggles and perseverance. Embracing this identity with humor, Arató himself has become a “living meme.”

Memeland’s “Hype Machine”: Celebrity Endorsements & Community Growth

As a Memeland-incubated project, PAIN benefited significantly from its parent platform’s resources. Following the creation of PAIN’s official Twitter account in late October 2024, Memeland quickly paved the way for its success:

Celebrity Effect:

During Binance Blockchain Week in October 2024, a widely circulated photo of Harold’s real-life figure, András Arató, alongside Binance founder CZ generated massive buzz. Memeland’s token, MEME, had already been listed on Binance, and this photo op was likely orchestrated behind the scenes by Memeland.

Community Engagement:

Memeland’s official account frequently retweeted PAIN-related updates, including presale announcements, amplifying engagement. (Note: The presale is now over; do not send funds to addresses shown in promotional images.)

Memeland’s founder and András Arató attended offline blockchain events together, reinforcing the project’s credibility.

The Refund Controversy: Genuine Commitment or Risk Transfer?

After the pre-sale ended, the project team announced that it would return 80% of the funds, leaving only 20% (approximately US$7.6 million) for startup, providing liquidity, and paying CEX listing fees (if any). The official explanation was that the move was to “reduce the burden on investors and show long-term commitment”, but controversy ensued: Supporters believe that the refund reflects the “anti-cutting of leek” attitude, in contrast to most Meme projects that “run away immediately after raising funds”; while skeptics point out that the refunded SOL has depreciated due to market fluctuations, and the 20% retained funds are still far beyond the start-up needs of similar projects.

Rational analysis shows that the 80% refund amount is the largest among similar projects, and this part of the funds can be regarded as potential purchases after the token is launched, which can indeed be regarded as protecting the income of existing investors.

Regardless of its true intent, this decision effectively generated secondary exposure for PAIN, securing a massive traffic win.

Future Challenges: The “Breaking Out” Paradox of Meme Coins

The short-term success of PAIN relies on the community potential of Memeland and the natural spread of Meme culture (of course it is also inseparable from the hype of Meme traders), but long-term development faces tests:If Harold’s “painful” core is over-commercialized, its original charm may be diminished; And Meme coins rely on market popularity and will bear the brunt of the bear market.

The exact launch date for PAIN tokens remains unclear. For now, it’s best to observe market movements before making any conclusions.

Conclusion

From Harold’s bittersweet smile to the successful PAIN token presale, this experiment highlights both the absurdity and creativity of the crypto world. When “pain” itself becomes a tradable consensus, perhaps the true meme has already transcended the screen and embedded itself into the collective emotions of this era.

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