In the fast-paced world of crypto, it's easy to get caught up in the latest hype, but sometimes a quick history lesson puts things into perspective. Take this recent tweet from Hitesh Malviya, known on X as @hmalviya9, a seasoned player in the space. He shared: "Those who don’t know, giving access to retail capital to pre-sales through structured onchain pools was the meta that started in 2018. Hundreds of such onchain pools raised billions for thousands of projects in the past, long before Echo got launched." You can check out the full tweet here.

This nugget of wisdom dropped right as news broke about Coinbase acquiring Echo, the onchain capital formation platform, for a whopping $375 million. Echo, founded by crypto trader Cobie, has been making waves by streamlining how projects raise funds directly on the blockchain. But as Hitesh points out, this isn't some groundbreaking innovation—it's a revival of a tried-and-true method from the ICO boom era.

What Are Onchain Pools, Anyway?

If you're new to this, onchain pools are essentially smart contract-based setups where retail investors—regular folks like you and me—can pool their funds to participate in pre-sale rounds of crypto projects. Pre-sales are those early investment opportunities typically reserved for big venture capitalists or whales with deep pockets. By structuring these pools on the blockchain, projects could tap into a broader base of capital without the traditional gatekeepers.

Back in 2018, during the height of the ICO (Initial Coin Offering) craze, these pools exploded in popularity. Think of them as decentralized crowdfunding mechanisms. Hundreds of them popped up, often coordinated through Discord channels or Telegram groups, allowing anyone with some ETH to get in on the action. The result? Billions raised for thousands of projects, from promising DeFi protocols to, yes, early meme tokens that captured the internet's imagination.

The Echo Connection and Coinbase's Big Move

Echo entered the scene more recently, aiming to formalize and scale this model with better tools for compliance and transparency. It's like taking the wild west of 2018 pools and giving them a polished, user-friendly interface. Coinbase's acquisition, detailed in reports from CoinDesk and Cointelegraph, signals a bet on the resurgence of onchain fundraising. With regulatory pressures mounting, platforms like Echo could make pre-sales more accessible while keeping things above board.

But Hitesh's tweet serves as a reminder: we've been here before. Projects like EOS raised massive sums through public sales, and private onchain pools filled the gaps for smaller ventures. The difference now? Better tech, like advanced smart contracts and layer-2 solutions, making these pools faster and cheaper.

Implications for Meme Tokens

At Meme Insider, we're all about meme tokens, and this ties in perfectly. Many meme coins start with pre-sales or fair launches on platforms like Pump.fun, which echo (pun intended) these early pool mechanics. Retail access means more community involvement, which is the lifeblood of memes. Imagine if tools like Echo evolve to support meme token launches— it could democratize the space even further, letting creators raise funds without VC overlords dictating terms.

Of course, it's not all sunshine. The 2018 era saw plenty of scams and rug pulls, where projects vanished after raising funds. Today's versions, bolstered by onchain transparency, aim to mitigate that. Still, always DYOR (do your own research) before diving into any pool.

Looking Ahead

As Coinbase integrates Echo, we might see a new wave of onchain capital formation that's safer and more inclusive. Hitesh's insight highlights how crypto cycles repeat, but each time with improvements. Whether you're a meme token enthusiast or a DeFi builder, keeping an eye on these developments could uncover the next big opportunity.

What do you think— is this the comeback of ICOs 2.0? Drop your thoughts in the comments, and stay tuned to Meme Insider for more on how these trends shape the meme token landscape.