$PING is doing a Launchpad, $PAYAI is working on migration—what’s the strategy behind these two moves?

Recently, discussions about two projects have exploded in the market—what exactly are $PING and $PAYAI up to?

One is clearly a MEME coin, yet suddenly makes a high-profile announcement to launch a Launchpad; the other, which is supposed to focus on practical tools, is instead engaging in token migration and pool switching. At first glance, this looks like an exit scam, but in reality, there may be an entirely different strategy at play.

No one has much confidence in a bear market, but we can try to break down the logic behind these two moves.

Why are these two projects doing “unconventional operations”?

Simply put, they’re both trying to make up for their own shortcomings.

What’s the biggest fear for a MEME coin? That once the hype dies down, no one cares anymore. Relying solely on consensus and sentiment to hold up, as soon as the market cools, the price drops like a deflated balloon. $PING clearly realizes this. Just hyping up the x402 narrative isn’t enough to withstand long-term pressure, so it’s trying to rebrand itself as a “platform token”—by launching projects on a Launchpad, using new projects’ liquidity to feed back into the ecosystem, creating a sustainable positive cycle.

As for Facilitator-type projects? Their problem is the exact opposite. The technical barrier is low and the ceiling is obvious. If $PAYAI only focuses on payment convenience as a tool, it can easily be copied or marginalized. So this migration move is essentially an attempt to upgrade from a “tool” to a “protocol”—adding staking, rewards systems, and ecosystem incentives to elevate its value capture capabilities.

Both moves would be clear positives in a bull market. It’s just that everyone is spooked by the bear market now, and everything looks like an exit scam.

Why isn’t the market buying it? Here’s the perception gap

A lot of people are flocking to the x402 narrative, but still thinking with the “Meme coin flipping” mindset—get in, make a quick buck, and leave. But the x402 logic is completely different.

$PING’s Launchpad is just the beginning. If you check out c402 Market and look at the ideas being incubated, this new round of token launch platforms isn’t just about launching vaporware. Gamefi, Socialfi, and other real business scenarios are being integrated. That’s way more useful than plain chat-to-earn mining, but it will take time to prove itself.

As for $PAYAI’s migration, some say the team ran out of tokens and is using the migration to regain control. But if it were really a conspiracy, wouldn’t FUD and causing panic be faster? I’m more inclined to believe the team genuinely wants to take the Facilitator track deeper—climbing from tool layer to protocol layer is ambitious, but theoretically feasible.

The problem is, these “big promises” haven’t been fully delivered yet. People don’t see immediate price pumps, so naturally, there’s anxiety.

Will this game pay off? Time will tell

$PING’s Launchpad might succeed or flop, but at least it’s trying to break out of the pure MEME death spiral. With one project, two projects, three projects constantly iterating, there’s always a chance one will hit it big and complete the transformation from underdog to leader.

$PAYAI’s protocol upgrade is even more subtle. I’ve heard the team comes from a technical/engineering background, which is actually a good thing in a bear market—they have enough time to polish the product rather than getting distracted by hype. As for the Facilitator niche, the value capture potential can be big or small, depending entirely on how the team defines its role in the x402 ecosystem.

Ultimately, both projects are doing one thing: finding a reason to continuously empower themselves. Whether that reason can convince the market depends on what they deliver next.

The macro environment is what it is, and no one can guarantee anything. But if you truly believe in the long-term value of the x402 track, the logic behind these two moves is actually sound.