On-chain MEME Token Launch Platform Analysis

The on-chain MEME Token launch platform is a decentralized platform built on blockchain, designed to simplify the creation process of MEME tokens. It provides tools for token creation, presale management, and liquidity provision on decentralized exchanges, ensuring transparency and accessibility for users.

Functionality of the Launch Platform

The structural advantages of the launch platform are highly compatible with the characteristics of the MEME Token. Especially their ability to quickly establish and mobilize communities complements the typical high community dependence of MEME projects. Therefore, launch platforms focused on MEME have gained greater appeal compared to other types of Token issuance platforms.

MEME Launch Platform Development Documentary

The emergence and maturity of the MEME launch platform

The emergence of on-chain MEME launch platforms has reshaped the early Token distribution model, enabling the rapid and permissionless creation of MEME Tokens. Unlike traditional platforms that focus on initial decentralized offerings, these launch platforms prioritize speed, simplicity, and viral distribution over due diligence or investor protection.

Since mid-2024, Pump.fun has gained significant attention, although competitive alternatives like Moonshot and SunPump only occupy a small market share. The issuance of Pump.fun's MEME Token surged, reaching an unprecedented peak by the end of 2024 and remaining active into early 2025.

MEME Rise of New Competitors in the Launch Platform

By late April 2025, the competitive landscape of the on-chain MEME launch platform began to change. New entrants like LetsBonk, Believe, and Boop quickly gained attention. These platforms collectively eroded the previous dominance of Pump.fun.

According to the data, Pump.fun's market share fell to a historical low of 56% on May 12, 2025. Its Token graduation rate dropped to only 0.82%, far below that of emerging competitors. Boopdotfun and LetsBONK.fun have significantly higher graduation rates of 4.41% and 1.45%, respectively.

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MEME Token drives May on-chain activity rebound

According to statistics, the total market capitalization of MEME tokens has increased by 47% in the past 30 days, with trading volume surging by 160%. The growing activity on MEME launch platforms such as Pump.fun and LaunchLab has ignited speculative sentiment and driven increased participation from retail users. As of May 20, 2025, on-chain trading volume has grown by 17.3% compared to the beginning of this month, with the MEME sector being considered a major contributor to this growth.

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Top Projects

Pump.fun

Pump.fun has established itself as the largest MEME launch platform on Solana, fully leveraging Solana's low fees and fast transaction speeds. Since its launch, the platform has facilitated the creation of over 8 million Tokens in just 13 months.

As a leading platform in the field, Pump.fun has pioneered an integrated mechanism that combines token issuance with automatic liquidity migration to decentralized exchanges. Pump.fun lowers the barrier for creating MEME tokens with a no-code interface tailored for non-technical users. With a simplified user interface, users only need to upload the name, symbol, and image to deploy a new token.

mechanism

On Pump.fun, the Token launch process is fully automated. The platform uses a supply-demand driven joint curve pricing model and does not include a presale phase, effectively reducing early arbitrage risks.

In its early stages, Pump.fun partnered with a trading platform. Once the Token's market value reaches $69,000, the Token will automatically be listed on the trading platform and $12,000 of initial liquidity will be injected. The corresponding LP tokens will then be permanently destroyed to ensure fairness and irreversibility. The developers will also receive a reward of 0.5 SOL upon graduation.

This mechanism significantly lowers the threshold for the issuance of MEME Tokens and facilitates the rapid rise of Pump.fun in the MEME cycle.

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Pump.fun and a certain trading platform's partnership has collapsed

The migration of trades based on the joint curve to a liquidity pool of a certain platform highlights the early dependence of Pump.fun on that platform. Although this model initially seemed mutually beneficial, the dynamics have changed significantly with the rise of Pumpswap and Launchlab.

On March 21, Pump.fun announced the launch of its native AMM DEX, PumpSwap. After this update, the liquidity of tokens graduating from the Pump.fun platform will no longer be routed to a certain trading platform, but will be redirected to PumpSwap.

In response, a certain trading platform officially launched its Token launch platform LaunchLab on April 16. This marks the beginning of direct competition between Pump.fun and the platform.

LaunchLab

LaunchLab adopts a mechanism similar to Pump.fun, utilizing an automated joint curve model for Token issuance and pricing. As a Token launch platform, its core issuance process does not introduce fundamentally new features.

Its main competitive advantage lies in its modular architecture, which supports seamless third-party integration and highly customizable issuance configurations, providing flexibility for developers seeking customized token issuance solutions.

mechanism

1. Third-party integration: The core advantage of LaunchLabs lies in its architecture that supports third-party integrations. According to its web interface, LaunchLab has integrated with over 10 third-party platforms. A major example is LetsBONK.fun, which is a MEME launch platform created by the $BONK community, built on the infrastructure of LaunchLab.

2. Highly customizable: In addition, LaunchLab has further refined its launch framework by providing two different modes:

   • JustSendIt Mode: Designed for standardization and rapid issuance, this mode allows users to launch tokens with minimal configuration, catering to casual or first-time creators.

   • LaunchLab mode: supports custom parameters, including total supply of the Token, the proportion of Tokens allocated to the joint curve, and Token lock settings. It is worth noting that in LaunchLab mode, developers are entitled to 10% of LP trading fees upon the Token's graduation, providing stronger incentives for creating high-quality projects.

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LetsBONK.fun - Third-party integration representative

According to statistics, LetsBONK.fun facilitates the creation of over 12,000 Tokens daily, with a total issued Tokens exceeding 80,000. At its peak, the platform accounted for 29% of the daily market share. Projects such as $Hosico and $USELESS are among the best-performing Tokens that have successfully graduated.

LaunchLab vs. Pump.fun

LaunchLab has not introduced any fundamentally new mechanisms, and only has a slight advantage in fee structure. However, on May 12, Pump.fun announced that it would share 50% of its revenue with token creators, effectively offsetting LaunchLab's fee advantage. This strategic move has allowed Pump.fun's market share to rise back above 80%, marking a significant reversal in the competitive landscape.

LaunchLab has adopted an aggressive strategy to promote third-party platforms in order to jointly undermine the market position of Pump.fun. Although this approach has put some revenue pressure on Pump.fun, LaunchLab is unlikely to challenge Pump.fun's dominance in the short term due to a lack of meaningful product innovation.

Believe

Believe, originally named Clout, is a SocialFi platform developed by Ben Pasternak, focusing on celebrity Token issuance. The project was announced on April 27, 2025. It gained significant attention upon release, with retweets from the official Solana account, Solana co-founder, and a co-founder of a certain trading platform. Since its launch, the Believe platform has facilitated the issuance of over 24,000 Tokens, with a daily issuance peak nearing 5,000, and a maximum market share reaching 13.6%.

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mechanism

The launch of the Believe Token adopts a socially-driven issuance model. Through its "X Trigger" mechanism, users can deploy a token on the Solana blockchain simply by tweeting with @LaunchACoin and specifying the token name on social platforms. The entire process is automatically executed through backend services.

The platform adopts a dynamic joint curve model, with initially high transaction fees aimed at preventing bot sniping. As trading volume increases, the fees gradually decrease and stabilize at 2%. This mechanism promotes fair market participation and mitigates early manipulation.

Once the market value of the Token exceeds $100,000, it will automatically be listed on the Meteora trading platform. Developers are incentivized by sharing 1% of the total trading fee (2%).

MakeNow.Meme: The decline of the first X Trigger MEME launch platform

As many platforms replicating the Pump.fun model emerge, Believe stands out due to its more innovative launch mechanism. However, it is worth noting that Believe is not the first platform to adopt a social media-based token launch model. This honor belongs to MakeNow.Meme, which briefly gained popularity in 2024 and pioneered this approach.

MakeNow is a project that allows users to launch tokens through tweets on social media. It utilizes dynamic bonding curves and zero-cost creation, providing a novel and accessible model. However, despite early attention, the project rapidly declined within a week. The main reasons for its ephemeral nature can be summarized in two points:

• Lack of anti-sniping mechanisms: The platform has not implemented effective anti-bot sniping measures. The delay before the contract address is released allows insiders to purchase low-cost Tokens in advance, creating an unfair advantage.

• Lack of ecosystem and community support: MakeNow lacks a dedicated user community or broader ecosystem support.

Believe has gained market recognition by addressing the core flaws of its predecessor. It is built on the foundation of early SocialFi platforms and benefits from the ecosystem support of Solana and a certain trading platform. Moreover, the use of its dynamic joint curve helps mitigate the bot rush behavior in the early stages of Token trading, improving fairness and issuance integrity.

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Boop.Fun

Boop.Fun is a MEME Token launch platform developed by a co-founder of a well-known trading platform.

mechanism

Boop.Fun integrates the core mechanisms of Pump.fun and Believe, providing two issuance methods: creating tokens directly through the platform or triggering on-chain deployment by posting a tweet with @beeponboop on social media.

The platform's native Token $BOOP is the foundation of its incentive system. Active Token creators receive daily $BOOP airdrops, while holders receive rewards proportionate to their Token holdings, encouraging long-term participation. Additionally, users who stake $BOOP can participate in daily airdrops and share 60% of the platform's SOL trading fee revenue, thereby establishing a multi-tiered reward structure.

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Voice