Flap report says BNB Chain has become the main venue for programmable token launches
A research note published by Flap on Sept. 22 argues that BNB Chain has become the most important market for Stock Meme trading and programmable token issuance, with the platform’s users, creators, liquidity base, trading activity and revenue now heavily concentrated on that network. The report places Flap at the intersection of BNB Chain and Binance, describing its product as a reusable issuance framework built around quote assets, tax settings, vaults, asset pools and permissionless launches.
The note says Binance’s continued expansion of bStocks, Alpha, Futures and Spot has widened the distribution path for assets launched on BNB Chain. It points to MarsCoin and NULAI as the clearest examples. MarsCoin moved from a Flap launch on BNB Chain into Binance Alpha, then Binance Futures on Sept. 1, and Binance Spot on Sept. 4, where it also gained access to products including Earn, Convert, Margin and VIP Loan. NULAI later opened spot trading against USDT and USDC, adding a second case of a Flap-linked asset entering Binance’s main trading system.
The report also highlights Flap’s platform metrics. As of Aug. 24, 2026, project data showed about 2.419 million wallet addresses, 141,000 creators, 2.981 million issued tokens, roughly $92.17 million in tracked TVL and about $11.09 billion in cumulative volume. DefiLlama data cited in the report showed around $35.93 million in fees over the past 30 days as of Sept. 22, with about $10.29 million counted as protocol revenue.