Many projects are now using meme tokens in their go-to-market strategy. While these tokens often have lack utilities and are used for entertainment, I would suggest founders to consider a few aspects of such launches that might help mitigate legal and compliance risks.

So I've put together a checklist for meme token launches that might be helpful to founders launching soon. (not legal advice!)

Building legal platform for default global companies, open-sourcing legal for Web3 on legalnodes.com (not legal advice), Techstars 21'

Refrain from promising investment returns: do not make any promises regarding financial returns as this may result in the token being classified as a security.

Evaluate compliance of blockchain networks and launchpads: assess the financial and sanctions compliance of the blockchain network and launchpads you choose for deploying and distributing your meme token.

Ensure marketing compliance: review all marketing and promotional materials to ensure they adhere to financial promotion regulations.

Consider legal entity registration: register an entity to protect project developers during the pre-TGE stage.

Plan for decentralized governance: If implementing decentralized governance, consider registering a legal wrapper for the token holder community in the post-TGE stage.

Again, not legal advice! Happy to hear if you have any comments or feedback.

Design tokenomics with a community focus: structure the tokenomics to emphasize community-building, avoiding features like dividends, rewards, or investment returns that could potentially classify the token as a security.

Adopt fair token launch practices: ensure a fair token launch for your Token Generation Event (TGE) to maintain transparency and equity.

Use airdrops for distribution: opt for airdrops over token sales for distributing tokens to minimize regulatory concerns and promote user engagement.

Avoid financial and regulated use cases: steer clear of token applications related to financial or other regulated activities such as swaps, buybacks, staking, or yielding to avoid regulatory scrutiny.