on-chain MEME Token launch platform analysis

The on-chain MEME Token launch platform is a decentralized platform built on the 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 Startup 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 MEME project's typical high reliance on community. 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 dissemination over due diligence or investor protection.

Since mid-2024, Pump.fun has gained significant attention, despite the most competitive alternatives holding only 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 shift. New entrants such as LetsBonk, Believe, and Boop quickly gained attention. These platforms collectively eroded Pump.fun's previous dominance.

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%, 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 the rebound of May on-chain activities

According to the data, the total market capitalization of MEME Token has increased by 47% in the past 30 days, with a trading volume surge of 160%. The growing activity on the MEME launching 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 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 through a no-code interface tailored for non-technical users. With the simplified user interface, users can deploy new tokens by simply uploading a name, symbol, and image.

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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 market cap of the Token reaches $69,000, the Token will automatically list on a certain DEX and inject $12,000 of initial liquidity. 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 issuing MEME tokens and facilitates the rapid rise of Pump.fun during the MEME cycle.

Pump.fun and a certain DEX partnership has broken down

The migration of transactions based on joint curves to a certain DEX liquidity pool highlights Pump.fun's early dependence 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 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 certain DEX.

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 has not introduced 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.

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mechanism

1. Third-party integration: The core advantage of LaunchLabs lies in its architecture that supports third-party integration. 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 that is built on LaunchLab's infrastructure.

2. Highly customizable: In addition, LaunchLab further refines its launch framework by offering 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 supply of the Token, the proportion of the Token allocated to the joint curve, and Token locking settings. It is noteworthy that under the LaunchLab mode, developers are entitled to 10% of the LP transaction fees upon the graduation of the Token, 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 every day, with the total number of 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.

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LaunchLab vs. Pump.fun

LaunchLab did not introduce any fundamentally new mechanisms and only has a slight advantage in the 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, it is unlikely that LaunchLab will challenge Pump.fun's dominance in the short term.

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. Upon its release, it gained significant attention, with multiple well-known accounts sharing it. 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 of 13.6%.

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mechanism

The launch of Believe's Token adopts a socially-driven issuance model, allowing users to deploy tokens on the Solana blockchain by simply posting tweets with specific tags and specifying the token name on social platforms through its "X Trigger" mechanism. 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 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 transaction 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 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 media. It employs dynamic joint curves and zero-cost creation, providing a novel and easily 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 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 ecosystem support. Additionally, the use of its dynamic joint curve helps mitigate bot sniping behavior during the early stages of token trading, enhancing fairness and issuance integrity.

Boop.Fun

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

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mechanism

Boop.Fun integrates the core mechanisms of Pump.fun and Believe, providing two issuance pathways: 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 $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, thus establishing a multi-tiered reward structure.

Reputation Pressure

Recently, the founder of Boop.Fun has been embroiled in some controversy. This controversy has had a significant impact on the platform: daily active users have dropped by 56%, and the token issuance has sharply decreased from 10,877.