Author: Daniel Li, CoinVoice
In the 2025 cryptocurrency market, Meme coins have become star assets on the Solana blockchain due to their unique community culture and financial innovations. Solana, with its high throughput and low transaction costs, has attracted a large number of Meme coin projects, with a total market capitalization exceeding $112.3 billion and a daily trading volume of about $3 billion. However, traditional launch platforms like Pump.fun have been criticized for high costs, opaque governance, and high failure rates (up to 98.7%). These issues have generated a strong demand for more fair and transparent platforms.
letsBONK.fun was born out of necessity, a Meme coin launch platform launched by the BONK team on April 25, 2025, aimed at reshaping the Meme coin issuance ecosystem through no-code issuance, transparent revenue distribution, and deep integration with Raydium and Jupiter. Within just a few months of its launch, it attracted over 1 million active users and surpassed Pump.fun on key metrics, becoming the leader in Meme coin launches on Solana. This article will explore how letsBONK.fun leads a new wave in the Solana Meme coin market through community-driven and transparent innovation, focusing on its background, core advantages, and ecological and industry impact.
The birth of letsBONK.fun and market opportunities
The cryptocurrency market in 2025 is like a frenzied feast, and the Solana blockchain is undoubtedly the center stage of the Meme coin craze. Its total market capitalization has soared to $112.3 billion, with daily trading volume stabilizing at $3 billion. With its high throughput of thousands of transactions per second and trading fees as low as a few cents, Solana has become an ideal breeding ground for Meme coins. Meme coins, closely tied to internet meme culture and characterized by viral dissemination, have attracted widespread attention from retail investors to speculators. However, the market's high volatility and a token failure rate of up to 98.7% expose industry pain points: many Meme coin projects are flash in the pans, and investors frequently fall into the trap of 'rug pulls' (developers absconding with funds).
The traditional launch platform Pump.fun was once the dominant player in this field. Since its launch in January 2024, its innovative bonding curve mechanism (an algorithm that increases price with purchasing demand) allowed anyone to easily create tokens, sparking a surge in Solana Meme coins. However, by mid-2025, the halo of Pump.fun gradually faded. According to Ainvest, its daily revenue plummeted from $7 million at the beginning of the year to $500,000, with market share dropping from 98% to 37.7%. User dissatisfaction mainly concentrated on three points:
Excessive fees: Pump.fun charges a 1% trading fee and requires a fee of up to 6 SOL when the token is successfully listed on Raydium; the cost is too burdensome for small creators.
Lack of transparency in governance: The distribution of funds and decision-making processes on the Pump.fun platform lack public disclosure, making it difficult for the community to track, such as unclear income sources and destinations.
High risk: According to Solidus Labs reports, about 98.6% of tokens on Pump.fun exhibit pull or fraud characteristics, leading to a significant decline in user trust. Criticism has even emerged on the X platform, referring to it as 'the ultimate scam', accusing its $4 billion PUMP token distribution of favoring early investors while neglecting the interests of ordinary users.
In such an environment, the market calls for a new launch platform centered on fairness and transparency. The BONK team seizes the opportunity: as a 'people's token' initiated by the Solana community, BONK launched an airdrop at the end of 2022, distributing 50% of the tokens to Solana's NFT collectors, developers, and artists, quickly gathering over 430,000 X fans. On April 25, letsBONK.fun, based on the BONK ecosystem, officially launched, announcing a 'complete revolution' in the creation and trading process of Meme coins through no-code issuance and a transparent mechanism. The platform is supported by ecological partners, including Solana Labs co-founder Anatoly Yakovenko (Toly), Jupiter, MoonPay, etc., enabling fiat entry and cross-platform liquidity. Through deep integration with Raydium and Jupiter, letsBONK.fun automatically creates liquidity pools on Raydium and uses Jupiter for optimal cross-DEX routing. This means any user only needs to connect their wallet, fill in basic information such as token name, symbol, and supply, and they can complete the creation of a new coin within minutes without any programming experience.
letsBONK.fun achieved impressive results within just a few months of its launch. According to DefiLlama data, as of July 18, the daily revenue of letsBONK.fun has surpassed $1.5284 million, while Pump.fun only reached $574,200, with market shares of 55.96% and 37.7% respectively. In terms of token issuance volume, letsBONK.fun is also far ahead: Dune Analytics shows that on July 7, letsBONK.fun issued 19,620 tokens within 24 hours, far exceeding Pump.fun's 9,249 tokens. The platform also attracted global developers by hosting the BCM hackathon (offering a $200,000 prize), driving the emergence of innovative projects. These data and activities indicate that letsBONK.fun has won market recognition through community-driven and transparent innovation and is rapidly replacing Pump.fun as the new leader in Meme coin issuance on Solana.
Core advantages of letsBONK.fun
The rise of letsBONK.fun is not accidental but stems from its careful mechanism design and precise grasp of user needs. The platform upholds the core philosophy of 'no-code, fair launch', combining an intuitive interface and smart contract technology to significantly lower the barriers to Meme coin issuance. Users only need to visit the letsBONK.fun official website, connect their Solana wallet, fill in basic information such as token name, symbol, description, logo, and supply, choose fixed supply or adopt a bonding curve model, and finally click the 'Launch' button. The platform will automatically deploy the token contract, create liquidity pools through Raydium's LaunchLab, and implement cross-DEX trading using Jupiter's routing functionality. This seamless process compresses the token issuance time to a few minutes, requiring no programming knowledge, enabling both crypto novices and experienced developers to participate easily.
The revenue distribution model of letsBONK.fun is one of its core competitive advantages, enhancing community trust through a transparent allocation mechanism and supporting the long-term development of the Solana ecosystem. The platform allocates 1% of the trading fees as follows:
According to official data, as of July 2025, letsBONK.fun has accumulated revenue of 68,000 SOL, of which 34,000 SOL is used for BONK buybacks and burns, and 10,000 SOL is allocated for staking. This mechanism is made public to the community through a real-time dashboard, significantly enhancing user trust. CryptoManiaks reported that in the first week of the platform's launch, the token burn drove the BONK price up by over 50%. In contrast, Pump.fun's revenue distribution lacks transparency, and most funds are not returned to the community, leading to user attrition.
Compared to other platforms, letsBONK.fun exhibits significant advantages in technical architecture and operational mechanisms. Although Pump.fun employs a bonding curve mechanism that simplifies the token creation process, its high 'graduation fee' of 6 SOL and closed ecosystem severely limit the visibility and liquidity expansion of tokens on other decentralized exchanges (DEXs). The 'tweet-to-token' feature launched by the Believe platform, while topical, struggles to achieve scalability due to its smaller community size. Moonshot offers lower fees but lacks effective integration with liquidity, limiting project scalability. In contrast, letsBONK.fun relies on deep integration with Raydium and Jupiter, ensuring that every newly launched token can go live quickly and gain sufficient liquidity.
On April 26, 2025, Raydium set a record for the issuance of 4,000 tokens in a single day, with trading volume reaching $25 million, showcasing its strong mobilization ability, driven by letsBONK.fun. The platform also launched the RAY token creator incentive mechanism in July 2025, rewarding based on 0.05% of trading volume. Compared to Pump.fun's equivalent profit-sharing plan launched in May, its allocation efficiency and on-chain transparency are higher, receiving a more positive response. Additionally, the smart contracts of letsBONK.fun have passed rigorous audits, combined with a mandatory liquidity lock mechanism, effectively suppressing developer rug pull behavior, significantly improving the 98% of tokens on Pump.fun being labeled as high risk. In the future, the platform will also introduce a voting mechanism for BONK holders to implement decentralized governance principles, further enhancing community engagement and platform sustainability.
letsBONK.fun's low fees (1% flat trading fee), transparent dashboard, anti-fraud design, and strong community support (430,000 fans and endorsements from KOLs like @SolportTom) together form its competitive advantage. Compared to the high costs and opaque governance of Pump.fun, letsBONK.fun provides a friendlier environment for small creators, while its deep integration with the Solana ecosystem ensures high liquidity for tokens. This user-oriented and ecologically synergistic model not only allows letsBONK.fun to stand out in competition but also sets a new benchmark of fairness and transparency for the Meme coin launch industry.
The ecological development and industry impact of letsBONK.fun
Since the launch of letsBONK.fun, several high-market-value Meme coin projects have emerged, demonstrating the platform's incubation capabilities. Below are some representative projects:
Useless Coin (USELESS): Launched in May 2025, it humorously self-deprecates as 'useless' and has created viral marketing through community-driven quirky promotions. According to CoinGecko data, as of July 19, its market capitalization reached $299 million, with an increase as high as 2,400% within weeks of issuance. Dune analysts claim its growth is 'organic and real,' reflecting a strong community-driven effect, and it has now become the largest project on the platform.
Hosico Cat (HOSICO): Launched in May 2025, combining the cat IP with 1.8 million Instagram followers and AI artistic styles, attracting significant community attention. According to data from multiple platforms, its market capitalization is approximately $33.4–34.7 million, with a 24-hour trading volume of $3.4–4 million. Although its market capitalization does not reach that of USELESS, its cute positioning and dissemination path in the ACG (Anime, Comic, Game) culture are significant, with some KOLs in the art circle (such as @ArtByLuna) commenting that it 'has the momentum to become the next cat-themed coin.'
Ani Grok Companion (ANI): Launched in June 2025, closely linked to the NFT and AI craze, the project team initiated a series of activities on the X platform titled 'Learn AI with Grok', significantly enhancing community participation, and its current market capitalization has reached $30.51 million.
Bonk Level Saviour (SAVIOUR): Launched in May 2025, named after BONK developers, with a market capitalization of $31.33 million, reflecting community loyalty.
Kori (KORI): Launched in June 2025, based on Japanese and Korean pop culture IP, with a market capitalization of $27 million, it has garnered attention from subculture enthusiasts.
The success of these projects is closely related to the no-barrier issuance and efficient liquidity support provided by letsBONK.fun. Data shows that letsBONK.fun's 'graduation rate' (the proportion of tokens completing initial fundraising and listing on Raydium) is about 2.5%, far higher than Pump.fun's 1.3%. The deep integration with ecological partners is key to its success: Raydium's LaunchLab automatically creates liquidity pools for new tokens, and Jupiter routing further expands trading coverage, reduces slippage, and attracts market making bots. In fact, since late April 2025, Raydium has repeatedly broken daily issuance records for new tokens, and the cumulative number of tokens issued by the platform has grown exponentially. Meanwhile, letsBONK.fun has also partnered with payment channels like MoonPay to provide investors with convenient fiat recharge options and integrated with AlphaScan's Launchpad filtering system to enhance the visibility of quality projects.
The rapid rise of letsBONK.fun has also attracted industry attention and follow-up. Public support from Solana Labs co-founder Anatoly Yakovenko adds credibility. KOLs like @theunipcs (one of the largest holders of Useless Coin) and @SolportTom promoted it through social media, sparking the 'LetsBonk' craze and driving the market capitalization of letsBONK.fun from $100,000 to $30 million within 6 hours. Dune analyst Adam Tech stated that 70% of the token growth on the platform is 'organic growth', reflecting genuine market demand. The community's 430,000 fans and the SBR program of the Solana ecosystem (4% of platform revenue is used to fund developers) further enhance ecological vitality. However, critics like @ferbsol argue that letsBONK.fun is a 'copycat' of Pump.fun, but its excellent data performance and transparent mechanisms strongly refute this view.
From an industry perspective, the model of letsBONK.fun has far-reaching implications. Its transparent revenue distribution system—accumulating 34,000 SOL for destruction and staking 10,000 SOL—sets a new benchmark for the industry, forcing other platforms to improve their governance structures. According to Ainvest (Solana News), platform activities once drove the price of BONK up by 22% within 24 hours, bringing significant liquidity and deflationary effects to the Solana ecosystem. Furthermore, Pump.fun has been forced to reduce some fees under pressure as of June 2025, but the success of letsBONK.fun is not easily replicable: it relies on years of cultural accumulation within the BONK community and a fan base of hundreds of thousands. In the future, letsBONK.fun plans to launch a public fee dashboard and community governance voting function to further enhance transparency and user engagement. Although market volatility and competitive pressure still exist, letsBONK.fun has laid a solid foundation for the long-term prosperity of Meme coin launches on Solana with its innovative mechanisms and ecological collaborations.
