Competition among launchpads on the SOL chain is heating up, with Bonk Fun, Boopdotfun, Believeapp, Pumpdotfun, and Launchcoin each having their own characteristics; here is a comparison analysis of these five platforms, combining the latest information:
1. Pumpfun
Positioning: The leading launch platform for MEME coins on the SOL chain, accounting for over 70% of token issuance.
Strengths:
Set a record of $100 million in revenue over 217 days in 2024, the fastest growth.
Launched Pump Advanced trading tools with zero fees in the first month, attracting a large number of users.
Mobile application launched, enhancing user experience.
Weaknesses:
Community dissatisfaction arose from SOL sales, labeled as 'bloodsucking', worsening the trust crisis.
X posts show it has blocked the Bonk founder and Raydium accounts, indicating tense ecological relationships.
Fewer than 100 tokens have a market value of over one million dollars, with a low success rate.
Current Status: Still the market leader but facing challenges from emerging platforms like Bonk Fun and Launchcoin.
2. Bonk Fun (Letsbonk.fun)
Positioning: A launchpad developed in collaboration between the BONK community and Raydium, backed by the Solana Foundation.
Strengths:
Strong community support, with BONK as the native MEME coin of the SOL chain, having a deep ecological foundation.
Platform fee is 1%, used for ecological construction (such as BONK buyback and burn), more 'selfless'.
Collaboration with Raydium LaunchLab allows tokens to quickly access DEX with strong liquidity.
Tokens like Hosico have a market value of $38 million and perform impressively.
Weaknesses:
Started later, with market share still behind Pumpfun.
Needs to rely on the popularity of the BONK community, with a singular narrative.
Current Status: Seen as the 'orthodox' platform officially supported by Solana, with strong momentum; considered the biggest threat to Pumpdotfun on X.
3. Believeapp
Positioning: An emerging MEME coin launch platform, emphasizing community feedback and decentralization.
Strengths:
Platform tokens like $LAUNCHCOIN and $DUPE have surged recently, with $LAUNCHCOIN's market value skyrocketing from $2.2 million to $90 million, showing strong momentum.
Supports innovative projects like $NOODLE (Snake game), gaining attention from the community and developers.
X posts claim it provides more opportunities for retail investors, with trading volume continuously increasing.
Weaknesses:
The platform's mechanism lacks transparency, and some users question its long-term sustainability.
In competition, it needs to counteract Pumpdotfun's first-mover advantage.
Current Status: Rapidly rising as a dark horse, forming a three-way competition with Bonk Fun and Pumpdotfun, with high community enthusiasm.
4. Boopdotfun
Positioning: A launchpad launched by NFT collector Dingaling, focusing on innovative incentive mechanisms.
Strengths:
Launched the $BOOP token, offering 5% new token and 60% SOL fee rewards to attract creators.
The airdrop mechanism is unique, requiring the token to reach a market value of $20 million or unlock after 30 days, incentivizing project quality.
Backed by Dingaling's NFT community, initially receiving high attention.
Weaknesses:
X posts question its 'rug pull' suspicion, with low community trust.
Usage rapidly declined after the airdrop frenzy, with sustainability in question.
Current Status: Weak influence, struggles to compete with the top three, needs more innovation to solidify its position.
5. Launchcoin
Positioning: Positioned as a decentralized 'YC' (incubator + launchpad), not limited to MEME coins, with a strong ecological sense.
Strengths:
The platform token $LAUNCHCOIN performs impressively, with its market value rising from $7-8 million to $80 million in just two days, showing high community enthusiasm.
Supports high-quality projects like $FITCOIN and $NOODLE, with several 'golden dogs' (high-return tokens) emerging in the short term.
One-click token issuance feature lowers the barrier, attracting a large number of retail investors and developers.
X users describe its narrative as 'the internet capital market', with great ecological potential.
Weaknesses:
Low barriers lead to varying token quality, with X posts reflecting that many bottoms are manipulated by bots, making retail investors prone to being 'rug pulled'.
Short-term surges may have bubble risks, needing more actual results to prove.
Current Status: Recent surge in popularity, market performance surpasses Boopdotfun, running neck and neck with Believeapp, but caution is needed against bot manipulation and long-term stability.
Comparison Summary
Market Impact and Recommendations
Retail Opportunities: The low barriers and high returns of Launchcoin and Believeapp attract retail investors, but caution is needed against bot manipulation and 'rug pull' risks. Bonk Fun is more suitable for long-term investment due to ecological support.
Developer Choice: Pumpdotfun is still suitable for projects seeking high exposure, while Bonk Fun and Launchcoin provide a friendlier ecology, and the Boopdotfun incentive mechanism is suitable for experimental projects.
Risk Warning: The surge of Launchcoin may have short-term bubble risks; it is recommended to pay attention to its ecological implementation; Pumpdotfun needs to improve community relations to maintain its lead.
Recommended to pay attention to: Bonk Fun (stable ecology), Believeapp and Launchcoin (high growth potential).
$SOL