On-chain MEME Token Launch Platform Analysis

The on-chain MEME Token launch platform is a decentralized platform built on blockchain, aimed at simplifying 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 platform

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

MEME Launch Platform Development Record

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, despite competitors like Moonshot and SunPump only capturing 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 until early 2025.

The rise of new competitors in the MEME launch platform

By late April 2025, the competitive landscape of the on-chain MEME launch platform began to shift. New entrants such as LetsBonk (built on Launchlab), Believe (with a strong focus on social media integration), and Boop (which adopts a novel fee-sharing mechanism) quickly gained attention. These platforms collectively eroded the previous dominance of Pump.fun.

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

!7372775

MEME Token promotes the May on-chain activity rebound

In the past 30 days, the total market capitalization of MEME tokens has grown by 47%, and trading volume has surged by 160%. The increasing activity on certain MEME launch platforms has ignited speculative sentiment and driven up retail user participation. As of May 20, 2025, on-chain trading volume has increased by 17.3% compared to the beginning of the month, with the MEME sector being considered a major contributor to this growth.

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 to creating MEME Tokens through a no-code interface tailored for non-technical users. With a simplified user interface, users can deploy new Tokens by simply uploading the name, symbol, and image.

mechanism

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

In its early stages, Pump.fun collaborated with a certain DEX. Once the token's market value reaches $69,000, the token will automatically be listed on that DEX and an initial liquidity of $12,000 will be injected. The corresponding LP tokens will then be permanently burned to ensure fairness and irreversibility. 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 during the MEME cycle.

Pump.fun and a certain DEX have ended their partnership

The migration of trading to a certain DEX liquidity pool based on the joint curve highlights Pump.fun's early reliance on that DEX. Although this model initially appeared mutually beneficial, this dynamic has 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 graduated from the Pump.fun platform will no longer be routed to a certain DEX, but will be redirected to PumpSwap.

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

!7372776

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 LaunchLab's infrastructure.

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

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

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

!7372777

LetsBONK.fun - Third-party integration representative

According to the data, LetsBONK.fun facilitates the creation of over 12,000 tokens daily, with a total issuance of more than 80,000 tokens. 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 has only slight advantages in its 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 rebound to over 80%, marking a significant reversal in the competitive landscape.

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

!7372778

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 received significant attention upon release, with retweets from the official Solana account, Solana co-founder Anatoly Yakovenko (Toly), and Jupiter co-founder Meow. Since its launch, the Believe platform has facilitated the issuance of over 24,000 tokens, with a daily issuance peak close to 5,000 and a maximum market share of 13.6%.

mechanism

The launch of Believe's Token adopts a socially driven issuance model. Through its "X Trigger" mechanism, it allows users to deploy tokens on the Solana blockchain by simply posting a tweet with @LaunchACoin and specifying the token name on X (formerly Twitter). The entire process is executed automatically through backend services.

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

!7372779

MakeNow.Meme: The Decline of the First X Trigger MEME Launch Platform

As numerous 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 token launch model based on X. 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 X. It employs dynamic bonding curves and zero-cost creation, offering an innovative and accessible model. However, despite early attention, the project rapidly declined within a week. The main reasons for its fleeting existence can be summarized in two points:

• Lack of anti-sniping mechanism: The platform has not implemented effective measures against bot sniping. 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 Jupiter. Additionally, the use of its dynamic joint curve helps mitigate bot sniping behavior in the early stages of Token trading, enhancing fairness and issuance integrity.

!7372780

Boop.Fun

Boop.Fun is a MEME Token launch platform developed by a well-known individual.

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 X.

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

Reputation Pressure

Recently, the founder of Boop.Fun claimed to have served as the Chief Risk Officer (CRO) of a certain trading platform.