On-chain MEME Token Launch Platform Analysis

The on-chain MEME Token launch platform is a decentralized platform built on the 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 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 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 competitors like Moonshot and SunPump only capturing a small market share. The issuance of Pump.fun's MEME Token skyrocketed, reaching an unprecedented peak by the end of 2024 and remaining active into early 2025.

MEME Rise of New Competitors on the Platform

By late April 2025, the competitive landscape of on-chain MEME launch platforms began to shift. New entrants like LetsBonk (built on Launchlab), Believe (strongly focused on social media integration), and Boop (adopting a novel fee-sharing mechanism) quickly gained attention. These platforms jointly eroded the previous dominance of Pump.fun.

According to data from Dune Analytics, Pump.fun's market share fell to an all-time low of 56% on May 12, 2025. Its Token graduation rate dropped to just 0.82%, well below emerging competitors. Boopdotfun and LetsBONK.fun had significantly higher graduation rates of 4.41% and 1.45%, respectively.

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MEME Token drives a rebound in May on-chain activities

According to data, the total market capitalization of MEME Token has increased by 47% over the past 30 days, with trading volume surging by 160%. The growing activity on the platform has sparked 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 regarded as 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 to creating MEME tokens with a no-code interface tailored for non-technical users. Through a simplified user interface, users can deploy new tokens by simply uploading a 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 excludes the presale phase, effectively reducing early arbitrage risks.

In its early stages, Pump.fun collaborated with a certain DEX. Once the Token's market cap reaches $69,000, the Token will automatically be listed on the DEX and injected with $12,000 of initial liquidity. 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 issuing MEME tokens and facilitates the rapid rise of Pump.fun during the MEME cycle.

Pump.fun and DEX partnership has broken down

The migration of trading to the DEX liquidity pool based on the joint curve highlights Pump.fun's early reliance on a certain DEX. Although this model initially appeared to be 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 graduating 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 certain DEX.

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LaunchLab

LaunchLab uses 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 standardized and rapid issuance, this mode allows users to launch tokens 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 joint curves, and token lock settings. It is worth noting that under the LaunchLab mode, developers are entitled to receive 10% of the LP trading fees upon token graduation, providing a stronger incentive for creating 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 amount exceeding 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 top performers of the successfully graduated Tokens.

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LaunchLab vs. Pump.fun

LaunchLab has not introduced any fundamentally new mechanisms and only has a slight advantage 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 rise back above 80%, marking a significant reversal in the competitive landscape.

LaunchLab has adopted a proactive 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, LaunchLab is unlikely to challenge Pump.fun's dominance in the short term due to a lack of meaningful product innovation.

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Believe

Believe, formerly known as 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 its release, with the official Solana account, Solana co-founder Anatoly Yakovenko (Toly), and Jupiter co-founder Meow all retweeting it. 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, users can deploy tokens on the Solana blockchain simply by posting tweets with specific tags and specifying the token name on social platforms. The entire process is executed automatically 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 be automatically listed on a certain trading platform. Developers are incentivized by sharing 1% of the total trading fees (2%).

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

Amid the emergence of numerous launch platforms replicating the Pump.fun model, 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 social media-based token launch model. That 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 platforms. It employs dynamic joint curves and zero-cost creation, providing a novel and accessible model. However, despite early attention, the project quickly declined within a week. The main reasons for its fleeting nature can be summarized in two points:

• Lack of anti-snipe 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. In addition, the use of its dynamic joint curve helps mitigate bot sniping behavior during the early stages of token trading, enhancing 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 certain trading platform.

mechanism

Boop.Fun integrates the core mechanisms of Pump.fun and Believe, offering two issuance pathways: creating tokens directly through the platform or triggering on-chain deployment by posting tweets with specific tags on social platforms.

The platform's native Token $BOOP is the foundation of its incentive system. Creators of active Tokens receive a daily airdrop of $BOOP, 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 60% of the platform's SOL trading fee revenue.