Written by: 0xresearch
Recently, friends launching tokens on Solana are talking less about Pump.fun and more about a new name - LetsBONK.fun.
Some say Pump.fun has been dethroned, and this is the new king.
What exactly happened? Why are community users quietly changing their preferences?
We'll tell you this story of "platform shift" in simple language.
Pump.fun: From Former Hegemon to Trapped in Public Opinion Vortex
Over the past year, Pump.fun was the hottest MEME token issuance platform on Solana.
It was simple to operate, requiring just a few steps to issue your own coin, attracting a wave of creators and speculators.
It could launch over 10,000 meme projects in a day, earning abundantly.
But problems gradually emerged:
The platform collected a lot of money, with cumulative revenue exceeding $700 million in over a year
User returns were minimal, with data showing less than 5% of users earning over $1,000
The platform didn't support project growth or contribute anything to the community or ecosystem
Finally, it announced plans to launch a platform token, with a valuation of up to $4 billion!
In short: The platform earned a lot, while users became mere "supporting tools".
Image: Pump.Fun related addresses sell 112,000 SOL again, approximately $16.89 million
LetsBONK.fun: Not Here to Compete, But to "Co-build"
In April 2025, the token issuance platform LetsBONK.fun, led by the BONK meme coin community, went online.
Its debut was eye-catching:
On its first day, 800,000 people participated, with 2,700 tokens issued
Trading volume exceeded $300 million within 24 hours
Over 180,000 tokens have been issued through the platform so far, far surpassing similar platforms
The biggest difference is that the platform doesn't harvest users, but returns income to the ecosystem.
A truly "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):
Mutual Achievement of Platform and Meme: LetsBONK.fun Supports Not Just with Encouragement, But with Real Money
LetsBONK.fun not only supports project launches but actually pays to support them.
Taking $USELESS as an example:
The platform directly purchased $USELESS from the market, establishing a project Treasury
And used these assets to help it apply for listing on first-tier exchanges
Statistics show this effort has invested over $600,000
In the meme world, this support is almost unprecedented.
Pump.fun made money from a hot community without leaving any resources for projects; while Bonk.fun pushes projects to a bigger stage with real money.
It can be said that LetsBONK.fun did what Pump.fun never did, and users are voting with their feet.
A set of latest data tells it all:
As of July 2025:
LetsBONK.fun's token issuance volume is 15,600, officially exceeding Pump.fun's 11,500
LetsBONK market share is 51%, with Pump.fun falling to 39.9%
Leading in popular project numbers, active users, and daily trading volume
These are not simply achieved through "hype", but represent a new generation of token issuance sample integrated 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
Projects are not for harvesting, but for growing
Participation is not "dreaming", but "doing"
This is why so many people are rushing into this platform, not just to issue a coin, but to create a space that can be "played for long and developed deeply".
