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. These platforms provide 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 rapidly establish and mobilize communities complements the typical high community reliance of MEME projects. Therefore, launch platforms focused on MEME have gained greater appeal than other types of Token issuance platforms.

MEME Launch Platform Development Chronicles

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 the initial decentralized issuance ( IDO ), 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 skyrocketed, 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 for 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) quickly gained attention as new entrants. These platforms collectively eroded the previously dominant position 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%, far below 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 on-chain activities in May

In the past 30 days, the total market capitalization of MEME Tokens 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 increased by 17.3% compared to the beginning of the month, with the MEME sector being regarded as 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 for 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 a name, symbol, and image.

On Pump.fun, the token launch process is fully automated. The platform utilizes a demand-driven joint curve pricing model, and it does not include a presale stage, effectively reducing early arbitrage risks.

In its early stages, Pump.fun collaborated with Raydium. Once the Token's market value reaches $69,000, the Token will automatically be listed on 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 barrier to the issuance of MEME tokens and facilitates the rapid rise of Pump.fun during the MEME cycle.

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LaunchLab

LaunchLab employs 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.

The core advantage of LaunchLab 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.

In addition, LaunchLab further improves its launch framework by providing two different modes:

1. JustSendIt mode: Designed for standardization 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 Token supply, the proportion of Token allocated to the joint curve, and Token lock settings. It is worth noting that under the LaunchLab mode, developers are entitled to receive 10% of LP transaction fees upon Token graduation, providing stronger incentives for creating high-quality projects.

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 rebound to over 80%, marking a significant reversal in the competitive landscape.

LaunchLab has adopted a proactive strategy to promote third-party platforms in order to jointly weaken 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 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 peak daily issuance close to 5,000 tokens and a maximum market share of 13.6%.

The launch of Believe's Token adopts a socially driven issuance model. Through its "X Trigger" mechanism, users can deploy a token on the Solana blockchain by simply posting a tweet with @LaunchACoin and specifying the token name on X(, formerly known as Twitter). The entire process is executed automatically through back-end 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 alleviates 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 transaction fee (2%).

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 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 Dingaling, a co-founder of a certain trading platform.

Boop.Fun integrates the core mechanisms of Pump.fun and Believe, providing two issuance methods: creating a Token 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. Creators of active Tokens receive daily $BOOP airdrops, while holders receive rewards 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, thereby establishing a multi-tiered reward structure.

Recently, the founder of Boop.Fun claimed to have served as the Chief Risk Officer of a certain trading platform (CRO). However, the CEO of the trading platform publicly refuted the existence of such a position and suggested that the founder was fired for alleged insider trading. Although the matter remains unresolved, the controversy has had a significant impact on the platform: daily active users dropped by 56%, and the token issuance fell sharply from 10,877 to 1,072, a decrease of 90%. As a result, market performance has become unstable, and the community's trust in Boop.Fun has significantly declined.

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Which is better?

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

The profit-sharing mechanism introduced by Pump.fun partially offsets the costs associated with token issuance and migration. In addition, this mechanism provides creators with stronger incentives to launch and maintain higher quality tokens.

While the low issuance fees, low graduation standards, and zero migration fees of LaunchLab may be attractive to creators, they also lower the entry barrier, leading to a proliferation of "scam" or "pump and dump" projects. 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 is built on a new token launch mechanism, introducing a dynamic joint curve to prevent early bot sniping behavior, while also setting higher graduation thresholds. These measures 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.Fun 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 damaged community trust. During recent negative publicity, these concerns were amplified, and during this period, the overall performance of the platform significantly declined.

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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 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 space, while Believe shows strong growth momentum and has the potential to gain more market share in the long term.

Key Challenges Facing the Launch Platform for MEME Tokens

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 Token, 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 fraud or