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 Launch Platform

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

MEME Launch Platform Development Documentary

The emergence and maturation 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.

Starting from mid-2024, Pump.fun gained significant attention, despite competitive alternatives 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 remained active into 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. LetsBonk(, built on Launchlab), Believe( with a strong focus on social media integration), and Boop( adopting a novel fee-sharing mechanism) rapidly gained attention as new entrants. These platforms collectively eroded the previous dominance of Pump.fun.

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

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MEME Token drives the rebound of May on-chain activities

According to data, 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 the MEME launch platform has ignited speculative sentiment and driven increased participation from retail users. As of May 20, 2025, on-chain trading volume has increased by 17.3% compared to the beginning of this month, with the MEME sector being considered a major contributor to this growth. The following sections will detail the core features, user dynamics, and economic models of each major MEME launch platform.

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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 to creating MEME tokens through a no-code interface tailored for non-technical users. With the simplified user interface, users only need to upload a 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 pre-sale phase, effectively reducing early arbitrage risks.

In its early stages, Pump.fun collaborated with a certain trading platform. Once the market capitalization of the token reaches $69,000, the token will automatically be listed on a certain trading platform (, which has now been redirected to PumpSwap ), and an initial liquidity of $12,000 will be injected. The corresponding LP tokens will then be permanently destroyed 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 trading platform's partnership has broken down:

The migration of trades based on joint curves to the liquidity pool of a certain platform highlights the early dependence of Pump.fun on that platform. While this model initially appeared 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 certain trading platform.

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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 tailored 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, a MEME launch platform created by the $BONK community, which is built on LaunchLab's infrastructure.

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

3. 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.

   2. LaunchLab Mode: Supports custom parameters, including total supply of tokens, the proportion of tokens allocated to the joint curve, and token lock settings. It is noteworthy that under the LaunchLab mode, developers are entitled to receive 10% of the LP transaction fees upon the graduation of the tokens, providing stronger incentives for the creation of high-quality projects.

LetsBONK.fun - Third-party integration representative:

According to the data, 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 slight advantages in its fee structure. However, on May 12, Pump.fun announced that it would share 50% of its revenue with token creators, which effectively offset LaunchLab's fee advantages. This strategic move has caused 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 jointly 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 dominant position in the short term.

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Believe

Believe, originally named Clout, is a SocialFi platform developed by Ben Pasternak, focused 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 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 approaching 5,000, and a maximum market share reaching 13.6%.

Mechanism:

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

The platform uses a dynamic joint curve model, with initially high transaction fees aimed at preventing bots from 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 a certain platform. Developers are incentivized by sharing 1% of the total trading fee (2%).

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

As numerous launch platforms replicating the Pump.fun model emerge, Believe stands out due to its introduction of a 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 utilizes a dynamic bonding curve and zero-cost creation, offering a novel and accessible model. However, despite early attention, the project quickly declined within a week. The main reasons for its fleeting success 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, resulting in 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 the bot sniping behavior during 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 one of the co-founders of a 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 X.

The platform's native Token $BOOP is the foundation of its incentive system. Active Token creators receive daily $BOOP airdrops, while holders are rewarded proportionally based on their Token holdings, encouraging long-term participation. Additionally, users who stake $BOOP can participate in daily airdrops and share the platform.