Written by: 0xresearch
Recently, friends who launched tokens on Solana have mentioned Pump.fun less and have turned to a new name—LetsBONK.fun.
Some say that Pump.fun has abdicated, and the new king is it.
What exactly happened? Why is the choice of community users quietly changing?
We tell you the story of this 'platform shift' in simple language.
Pump.fun: Once a dominant player, now deeply entangled in public opinion.
Pump.fun has been the hottest meme token issuance platform on Solana for more than a year.
It is easy to operate; with just a few steps, you can issue your own token, attracting a large wave of creators and speculators.
Once, it could launch tens of thousands of meme projects in a day, making a fortune.
But the problems are slowly becoming apparent:
The platform has received a lot of money, accumulating over $700 million in revenue in more than a year.
User feedback is scarce, data shows that less than 5% of users can earn more than $1000.
The platform does not support project growth and has not left any resources for the community or ecosystem.
Finally, it announced a platform token, valued at up to $4 billion!
In summary: the platform earns a lot, but users have become 'supporting tools'.
Image: Pump.Fun related addresses sold 112,000 SOL again, approximately $16.89 million.
LetsBONK.fun: Not here to harvest, but to 'co-build'.
In April 2025, the token issuance platform LetsBONK.fun, led by the meme coin BONK community, went live.
It made a stunning impression right away:
On the first day of launch, 800,000 people participated, with 2,700 tokens released.
Trading volume broke $300 million within 24 hours.
As of now, over 180,000 tokens have been issued through the platform, far exceeding similar platforms.
The main difference is: the platform does not harvest everyone but returns income to the ecosystem.
The real 'co-building platform': How is income distributed?
Let's look at the on-chain distribution data from July 7, 2025 (total revenue 68,768 SOL):
The mutual achievement of the platform and memes: LetsBONK.fun is not just encouragement, but real financial support.
The LetsBONK.fun platform not only supports project launches but also really invests money to help.
Taking $USELESS as an example:
The platform directly purchases $USELESS from the market to establish a project treasury.
And used this asset to assist in applying for listing on a first-tier exchange.
According to statistics, this initiative has invested over $600,000.
In the meme world, this kind of support is almost unprecedented.
Pump.fun profited wildly through the community but left no resources for the projects; whereas Bonk.fun pushed projects onto a bigger stage with real financial support.
It can be said that LetsBONK.fun has done what Pump.fun never did, and users are voting with their feet.
A set of the latest data says it all:
As of July 2025:
The token issuance of LetsBONK.fun is 15,600, formally surpassing Pump.fun's 11,500.
LetsBONK has a market share of 51%, while Pump.fun has retreated to 39.9%.
The number of popular projects, active users, and daily trading volume are all leading.
These are not purely based on 'hype', but are new-generation token issuance samples combined with community, functionality, and narrative.
So why did users choose LetsBONK.fun?
Because it conveys a signal:
You are not a 'leek', but a co-builder.
The project is not meant to be harvested but to grow.
Participation is not 'dreaming' but 'doing'.
This is also why so many people flock to this platform, not just to issue a token, but to find a space that can 'last long and go deep'.