In emerging markets like token launchpads, new entrants always target the incumbent’s profit margins without understanding where the real moat is

It’s like trying to beat Hyperliquid by offering lower fees - it won't work

I think the real path to taking market share from pumpfun isn’t by slashing fees or offering creator revshare - it’s by inventing a new meta that truly differentiates the product

We’re already seeing early versions of this with apps focused on “genuine” creators linked to X accounts like Believe, Boop, and Arena

But there’s a flaw here - it assumes KOLs make good token founders and most aren't. This approach also has a hard ceiling as the majority of KOLs will never launch a coin because they’re too protective of their brand

Plus, the moat is not that strong as evidenced by multiple apps crowding into this angle

That said, I love the experimentation happening. This is the stuff I live for. I fully expect the next wave of launchpads to bring even more creative ideas

Hats off to all the builders who continue to experiment 🎩