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 reliance 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 Record

The emergence and maturity of the MEME launch platform

The emergence of the on-chain MEME launch platform 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 dissemination over due diligence or investor protection.

Since mid-2024, Pump.fun has gained significant attention, despite other competitive alternatives 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 into early 2025.

MEME the rise of new competitors on the platform

By late April 2025, the competitive landscape of the on-chain MEME launch platform began to shift. New entrants such as 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 an all-time 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 of 4.41% and 1.45%, respectively.

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MEME Token drives May on-chain activity rebound

In the past 30 days, the total market capitalization of MEME Token has increased by 47%, and trading volume has surged 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 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 to creating MEME tokens through a no-code interface tailored for non-technical users.

Mechanism:

On Pump.fun, the token launch process is fully automated. The platform employs a supply-demand-driven joint curve pricing model and excludes the presale phase, effectively reducing early arbitrage risks.

Once the market value of the token reaches $69,000, it will automatically be listed on a certain trading platform 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 issuing MEME tokens and facilitates the rapid rise of Pump.fun during the MEME cycle.

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 any trading platform, but will instead be redirected to PumpSwap.

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LaunchLab

LaunchLab adopts a mechanism similar to Pump.fun, using 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. LaunchLab has integrated with over 10 third-party platforms. A major example is LetsBONK.fun, a MEME launch platform created by a certain Token community that is built on LaunchLab's infrastructure.

2. Highly Customized: 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 custom 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 a stronger incentive for the creation of high-quality projects.

LetsBONK.fun - Third-party integration representative:

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.

LaunchLab vs. Pump.fun：

LaunchLab did not introduce any fundamental new mechanisms, and its fee structure only has slight advantages. 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 turnaround 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 the lack of meaningful product innovation, LaunchLab is unlikely to challenge Pump.fun's dominance in the short term.

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Believe

Believe, originally named Clout, is a SocialFi platform focused on the issuance of celebrity tokens. The project was announced on April 27, 2025. Upon its release, it gained significant attention, with several well-known industry figures sharing it. 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 of 13.6%.

Mechanism:

The token launch of Believe adopts a socially-driven issuance model. Through its "X Trigger" mechanism, users can deploy tokens on the Solana blockchain by simply posting tweets with specific tags and specifying the token name on social platforms. 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 robots 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 trading platform. Developers are incentivized by sharing 1% of the total trading fees (2%).

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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, offering two issuance methods: creating tokens directly through the platform or triggering on-chain deployment by posting tweets with specific tags on social media.

The platform's native Token $BOOP is the foundation of its incentive system. Active Token creators receive daily airdrops of $BOOP, 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, thus establishing a multi-tiered reward structure.

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Project Comparison

Although Pump.fun remains the leader in the MEME launch platform space, Believe has a relative competitive advantage among new entrants.

• Pump.fun: The introduced creator profit-sharing mechanism partially offsets the costs associated with Token issuance and migration. Furthermore, this mechanism provides creators with stronger incentives to launch and maintain higher quality Tokens.

• LaunchLab: While low issuance fees, low graduation standards, and zero migration costs may be attractive to creators, they also lower the entry barrier, leading to an influx of projects with varying quality. This undermines the overall project quality. In the absence of core innovation or differentiation, the platform may face challenges in maintaining long-term growth and competitiveness.

• Believe: Built on a new Token launch mechanism, it introduces dynamic joint curves to prevent early bot buying behavior while setting higher graduation thresholds. These measures address key issues previously observed and enhance user protection. Although transaction fees are relatively high, the platform's design trade-offs yield net benefits in terms of fairness and sustainability.

• BOOP: Provides a highly integrated platform design, and its Token distribution model is attractive in the short term. However, the platform's performance is closely related to the price performance of its native Token $BOOP, which increases exposure to risks such as internal trading and damage to community trust.

Conclusion

For a MEME launch platform to achieve long-term viability, it must be built on a strong core mechanism or technological innovation that can effectively address current market challenges. For example, Pump.fun has pioneered an integrated mechanism that combines token issuance with automatic liquidity migration to decentralized exchanges. Meanwhile, Believe has optimized the simple token issuance process driven by social media. Pump.fun remains the leading platform in the MEME launch platform sector, while Believe shows strong growth momentum and has the potential to capture more market share in the long run.

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Key Challenges Faced by the MEME Token Launch Platform

Currently, the MEME launch platform faces two fundamental challenges:

1. User Protection Mechanism: Due to the inherent low threshold and high-risk nature of MEME tokens, the platform must mitigate user losses by addressing project quality and transaction fairness. This requires the implementation of a robust project screening mechanism, such as team background verification, smart contract audits, and reputation scoring systems, to filter out fraudulent or low-quality projects. Additionally, anti-bot mechanisms such as address whitelisting, KYC procedures, and transaction rate limits are crucial.