On-chain MEME Token Launch Platform Analysis

The on-chain MEME Token launch platform is a decentralized platform built on blockchain, designed to simplify the creation process of MEME tokens. It provides tools for token creation, presale management, and liquidity provision on decentralized exchanges, ensuring transparency and accessibility for users.

Functionality of the Launch Platform

The structural advantages of the launch platform are highly aligned with the characteristics of the MEME Token. In particular, their ability to quickly establish and mobilize communities complements the typical high community dependency of MEME projects. Therefore, launch platforms focused on MEME have gained greater appeal compared to other types of Token issuance platforms.

MEME Launch Platform Development Record

The emergence and maturity of the MEME launch platform

The emergence of on-chain MEME launch platforms has reshaped early token distribution models, enabling the rapid and permissionless creation of MEME tokens. Unlike traditional platforms that focus on initial decentralized offerings, these launch platforms prioritize speed, simplicity, and viral spread over due diligence or investor protection.

Starting in mid-2024, Pump.fun has gained significant attention, despite the most competitive alternatives only capturing a small market share. The issuance of Pump.fun's MEME Token surged, reaching an unprecedented peak by the end of 2024, and remained active into early 2025.

The rise of new competitors on the MEME platform

By late April 2025, the competitive landscape of on-chain MEME launching platforms began to change. New entrants like LetsBonk, Believe, and Boop quickly gained attention. These platforms collectively eroded the previously dominant position of Pump.fun.

According to the data, the market share of Pump.fun fell to a historical low of 56% on May 12, 2025. Its Token graduation rate dropped to only 0.82%, well below emerging competitors. Boopdotfun and LetsBONK.fun had significantly higher graduation rates of 4.41% and 1.45%, respectively.

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MEME Token drives May on-chain activity rebound

In the past 30 days, the total market capitalization of MEME Token has increased by 47%, and trading volume has surged by 160%. The growing activity on the MEME launch platform has ignited speculative sentiment and driven increased participation from retail users. As of May 20, 2025, on-chain trading volume has risen by 17.3% compared to the beginning of the month, with the MEME sector being considered a major contributor to this growth.

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Top Projects

Pump.fun

Pump.fun has established itself as one of the largest MEME launch platforms. Since its launch, the platform has facilitated the creation of over 8 million tokens in just 13 months.

Pump.fun has created an integrated mechanism that combines token issuance with automatic liquidity migration to decentralized exchanges. Through a simplified user interface, users only need to upload a name, symbol, and image to deploy a new Token.

In its early stages, Pump.fun collaborated with Raydium. Once the Token's market cap reaches $69,000, the Token will automatically be listed on the trading platform and inject $12,000 of initial liquidity. The corresponding LP tokens will then be permanently destroyed to ensure fairness and irreversibility. Developers will also receive rewards upon graduation.

On March 21, Pump.fun announced the launch of its native AMM DEX, PumpSwap. After this update, the liquidity of tokens graduating from the Pump.fun platform will no longer be routed to Raydium, but redirected to PumpSwap.

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LaunchLab

LaunchLab adopts a mechanism similar to Pump.fun, utilizing an automated joint curve model for Token issuance and pricing. Its main competitive advantage lies in its modular architecture, which supports seamless third-party integration and highly customizable issuance configurations, providing flexibility for developers seeking customized Token issuance solutions.

LaunchLab offers two different modes:

1. JustSendIt Mode: Designed for standardized and rapid issuance, this mode allows users to launch tokens with minimal configuration, catering to casual or first-time creators.

2. LaunchLab Mode: Supports customizable parameters, including total token supply, the proportion of tokens allocated to the joint curve, and token lock settings. In LaunchLab mode, developers are entitled to 10% of the LP trading fees upon token graduation, providing stronger incentives for creating high-quality projects.

LaunchLab did not introduce any fundamentally new mechanisms and only has a slight advantage in its fee structure. On May 12, Pump.fun announced that it would share 50% of its revenue with token creators, which effectively offset LaunchLab's fee advantage. This strategic move has allowed Pump.fun's market share to rebound to over 80%, marking a significant reversal in the competitive landscape.

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Believe

Believe, formerly known as Clout, is a SocialFi platform focused on celebrity Token issuance. The project was announced on April 27, 2025. Since its launch, the Believe platform has facilitated the issuance of over 24,000 Tokens, with a peak daily issuance close to 5,000 and a maximum market share reaching 13.6%.

The launch of Believe's token adopts a socially-driven issuance model, allowing users to deploy tokens on-chain by simply posting tweets with specific tags and specifying the token name on social platforms through its "X Trigger" mechanism. The entire process is executed automatically through backend services.

The platform uses a dynamic joint curve model, with initially high transaction fees aimed at preventing bots from sniping. As trading volume increases, the fees gradually decrease and stabilize at 2%. This mechanism promotes fair market participation and mitigates early manipulation.

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Boop.Fun

Boop.Fun is a MEME Token launch platform. It integrates the core mechanisms of other platforms, providing two issuance pathways: creating tokens directly through the platform, or triggering on-chain deployment by posting tweets with specific tags on social platforms.

The platform's native Token $BOOP is the foundation of its incentive system. Active Token creators receive daily $BOOP airdrops, while holders receive rewards proportionate to their Token holdings, encouraging long-term participation. Additionally, users who stake $BOOP can participate in daily airdrops and share 60% of the platform's trading fee revenue, establishing a multi-tiered reward structure.

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Conclusion

For a MEME launch platform to achieve long-term viability, it must be built on a strong core mechanism or technological innovation that effectively addresses current market challenges. Pump.fun remains the leading platform in the MEME launch platform space, while Believe demonstrates strong growth momentum and has the potential to gain more market share in the long run.

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Key Challenges Facing the MEME Token Launch Platform

Currently, the MEME launch platform faces two fundamental challenges:

1. User protection mechanism: The platform must mitigate user losses by addressing project quality and transaction fairness. This requires the implementation of a robust project screening mechanism and anti-bot measures.

2. Multi-chain deployment capability: Expanding to a multi-chain architecture can achieve broader accessibility and cost optimization, but it also brings technical hurdles. Solutions include integrating cross-chain protocols and adopting modular blockchain frameworks.

Looking ahead, those MEME launch platforms that can address the core challenges mentioned above or introduce innovative mechanisms to reshape incentives for users and developers may stand out in the evolving on-chain launch landscape and become noteworthy participants.

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