Chainfeeds Briefing:
LetsBonk.fun went online in April 2025 and quickly surpassed Pumpfun in daily active users by mid-July, with a maximum daily token issuance of 28,000 tokens, while Pumpfun was only 3,500 tokens at the time. However, Pumpfun recently reversed the trend, creating over 15,000 tokens within 24 hours, once again overtaking its competitor.
Source:
https://x.com/castle_labs/status/1954851951075582333
Author:
Castle Capital
Perspective:
Castle Capital: Since LetsBonk.fun launched in April 2025, this MEME token issuance platform based on Solana $BONK has rapidly risen, surpassing the veteran competitor Pumpfun in key metrics such as daily active users and token issuance in mid-July. At the time, LetsBonk's daily average token issuance reached 28,000, compared to Pumpfun's 3,500; daily trading volume ($179 million vs. $52 million) and 30-day fee income ($14.51 million vs. $23.29 million) also showed an overwhelming advantage. LetsBonk prioritizes community-first philosophy, introducing governance tokens and sharing 1% of transaction fees with token creators (far higher than Pumpfun's later 0.05%). Its fee allocation model is also attractive: 50% buyback and burn BONK, 8% for reserves, creating positive incentives. In contrast, Pumpfun's $PUMP token ICO on July 12th raised $500 million but was immediately halved due to community dissatisfaction, forcing a multi-million dollar buyback to stabilize the price. However, the situation recently reversed: Pumpfun created over 15,000 tokens within 24 hours in early August, once again overtaking its rival. To turn the tide, Pumpfun has been sharing 0.05% fees with creators since May to encourage long-term operations and reduce instant rug pulls. The Group Coins feature aims to introduce structure and trust to the MEME coin market, reducing one-person team scams (Rug Pull) and extending project lifecycle through team-based, community-driven approaches. This update includes multi-developer joint token issuance, multi-signature project treasury management, and ranking and competition mechanisms. This feature, combined with Pumpfun's recent actions (fee sharing, $PUMP token issuance), attempts to win back creators and traders lost to LetsBonk. The community generally believes this addresses early criticisms - shifting from pure harvesting to sharing revenue with creators and hinting at potential future dividends for $PUMP holders. The multi-signature mechanism is seen as a trust-enhancing signal that can filter out short-term scam teams and attract larger capital. Some traders on X claim this will attract more genuine teams to the MEME coin market. Around the announcement, $PUMP price rose 15%, with a whale investing $3.3 million and leveraging, betting on the new feature's potential to restore popularity and trading volume. In the short term, Group Coins may narrow the gap between Pumpfun and BONKBot, especially with daily issuance already leading again. If team-based token issuance succeeds, it could attract influencer alliances, developer collaborations, and DAO communities to collectively launch MEME coins on Pumpfun, maintaining its historical quantity advantage while introducing quality screening mechanisms. This may improve the platform's token average lifespan and active trading volume, attracting large capital previously hesitant due to rug pull risks and gradually changing its quick in-and-out casino image. However, BONKBot hasn't stopped, still holding an advantage in user trust and brand loyalty based on the $BONK community foundation and continuous innovation. BONKBot may counterattack through token issuance and increased rewards. If Pumpfun continues to optimize $PUMP token rights, creator sharing, and successfully implements Group Coins, market share could increase to over 50% in the coming weeks. Currently, $PUMP has risen over 30% in August, showing some traders are betting on its rebound. [Original text was in English]
