In the world of cryptocurrencies, token launch platforms (Launchpads) are the environment from which new projects launch their digital currencies and start trading them, especially in the field of meme projects (Memecoin) on the Solana network, which is renowned for its speed and low transaction costs.
In recent months, we have witnessed fierce competition between two main platforms for launching meme coins on Solana:
🔹 Pump.fun: the leading platform that currently controls about 75% of the volume of successful token launches.
🔹 LetsBonk: the rising platform that briefly captured 70% of the launches before Pump.fun regained its position.
Each platform offers a different model for launching tokens:
Pump.fun: relies on a traditional market cap of around $69,000 for launching, with creation fees ranging from 0.05 to 0.1 Solana, and trading fees ranging from 1% to 2%.
LetsBonk: allows instant listing of tokens through decentralized trading platforms like Raydium and Jupiter, with a fixed trading fee of 1%.
⚡️ The daily trading volume on the two platforms is around 120 million dollars, reflecting the strength and interest of the community in meme projects on the Solana network.
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How do token launch platforms work? 🤔
Launch platforms are a mechanism that helps new projects issue their digital currencies and sell them to investors in an organized manner instead of suddenly launching them in the market, through the following steps:
1. Defining launch terms: such as minimum market value, creation fees, and the percentage of tokens offered.
2. Initial token sales: for interested users, either directly or through mechanisms like the ascending price curve (bonding curve).
3. Listing tokens on trading platforms: some platforms provide automatic listing of tokens on decentralized exchanges to facilitate immediate trading.
4. User incentives: such as airdrops and rewards to encourage trading and increase liquidity.
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What are meme projects on Solana? 🐕🦺
Meme projects are cryptocurrencies that rely on internet culture and humor, and often spread rapidly among digital communities.
The Solana network is an ideal environment for these projects due to its high speed and low transaction costs.
Platforms like Pump.fun and LetsBonk facilitate these projects to launch in an organized and professional manner and provide opportunities for investors to enter the market easily.
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💡 Summary:
The meme project market on Solana is witnessing rapid growth, and competing platforms are constantly working to improve their services to attract users and developers. Following these platforms and their new projects may open up investment opportunities for you or help you understand modern market trends.
🗯️ In your opinion, which token launch platform is more trustworthy: Pump.fun due to its stability and large market share, or LetsBonk due to its speed of listing and updates? And why?