# 1. Believe

Introduction to Believe

Believe is a MEME token issuance platform launched by Ben Pasternak, originally known as Clout.me, which focused on the "celebrity token issuance" model. After a brand upgrade, the project has core positioning focused on the "social assetization" field. The core mechanism allows users to publish tweets in the format of $TICKER+NAME and @launchcoin on X, and the system automatically evaluates their social influence through an algorithm, triggering the decision-making process for deploying tokens via smart contracts. Approved tokens will first enter the joint curve issuance phase and receive a $10,000 seed fund from the platform to support the founding team. Once the project's market capitalization exceeds the $100,000 threshold, the token will enter the liquidity enhancement phase, gaining deep market-making support through migration to the Meteora protocol.

According to the economic model disclosed by the official, the platform sets a 2% transaction fee rate, with token creators receiving a 1% creation incentive, community evangelists receiving a 0.1% reward, and the remaining 0.9% allocated to the platform maintenance fund. This tiered revenue structure not only protects the core rights of content creators but also builds a community-driven mechanism for early project dissemination, while providing financial support for the platform's sustainable development.

Popular Projects on Believe

1. LaunchCoin

As the core token of the Believe ecosystem, LaunchCoin is an upgrade of Ben Pasternak's early project PASTERNAK token, fully embodying the brand evolution path from Clout.me to the Believe platform. On its first day of launch, LaunchCoin set a record with a market capitalization of $80 million, and after experiencing market fluctuations, it began a strong recovery on May 11, currently achieving a market capitalization of $330 million, a 40-fold increase from its initial issuance, with over 27,000 holding addresses.

2. Dupe

Based on the furniture alternative search engine Dupe.com, the Dupe platform's official Instagram has 367,000 followers and over 1 million monthly active users. The token's market capitalization peaked at $70 million, currently maintaining around $34 million.

3. Goonc

The GOONC token, issued by engineer Pata van Goon from the OpenAI technical team, quickly gained popularity thanks to the endorsement of technical elites. The token's market capitalization once soared to $70 million and is now stable in the $45.5 million range.

# 2. LetsBonk.fun

Introduction to LetsBonk.fun

LetsBonk.fun is a meme token issuance platform jointly launched by the leading meme project BONK from the Solana community and Raydium, positioned as a LaunchPad + creator incentive platform within the Solana ecosystem. The platform officially launched on April 26 and has recently surged in popularity driven by meme projects like Hosico, Useless, and IKUN. Its token issuance mechanism allows users to easily deploy tokens through the "one-click issuance" feature within the app, but it has a liquidity threshold of ≥2 SOL, which must be met to go live on Raydium.

Revenue Model of LetsBonk.fun

In terms of transaction fees, each transaction on the platform incurs a 1% fee, which is used for developing the funding pool, BONKsol validators, and repurchasing and burning BONK. LetsBonk.fun uses 35% of its revenue to repurchase and burn BONK to achieve a deflationary model, 30% to purchase and stake BONKsol to maintain network security and liquidity; 19.2% is allocated to the ecological construction fund, 7.6% for strategic reserves, and the remaining is distributed to technical development and operations (7.6% each for recruitment/growth and development/integration), with 12% invested in user incentives and promotions, including 4% for BonkRewards, 4% for marketing, and 4% for supporting community governance (SBR). From the data trend, from April 29 to May 15, the platform's daily revenue surged from about 2,000 SOL to 24,000 SOL, an increase of over 12 times, with tokens approaching 50,000 times on May 15 (233% higher than the average level).

Popular Projects on LetsBonk.fun

1. Hosico

Hosico is a cute cat with 1.8 million followers on Instagram, issued on BONK in a Ghibli AI art style. After the token launched at 4 AM, its market capitalization reached $10 million within an hour, and as popularity increased, it peaked over $60 million, currently standing at $22 million.

2. USELESS

USELESS originated from a tweet by BONKGUY on X: "This is a useless currency that shouldn't be pushed up." It quickly gained popularity with this nihilistic and emotional narrative style. Since the launch of BONK, its market capitalization has grown to $34 million, currently at $24 million.

# 3. Competitive Analysis of Believe, LetsBonk.fun, Pumpfun, and Others

The uniqueness of Believe lies in its token issuance mechanism based on the X platform, where the project party cannot conduct any pre-purchases before the official token issuance, and tokens can only be purchased through secondary market trading or social tags. Its transaction fee distribution is reasonable, with no issuance fees, but it requires a relatively high threshold of about 85 SOL, which may slow down liquidity initiation. LetsBonk.fun supports dual token issuance on both the issuance platform and X, deeply binding with the BONK token; after liquidity providers exit, it also returns 10% of the fees to incentivize deployers. However, its high pre-purchase ratio of up to 80% may lead to increased token holding concentration.

Overall, these two models have not brought revolutionary innovations to existing MEME issuance platforms in terms of issuance mechanisms, but have optimized the issuance methods and additional features. Although they have recently captured some of Pumpfun's market share in daily MEME issuance, there remains a significant gap compared to its overall scale.

|----------------|----------------------------------|-----------------------------------------------------|-----------------------------------|---------------------------|---------------------------------------------------|------------------------------------------------------|-------------------------------------------------| | Platform Name | Pump.fun | Moonit | LaunchLab | Makenow.meme | Believe | Letsbonk.Fun | Boop | | Token Issuance Mechanism | In-app issuance platform | In-app issuance platform | In-app issuance platform | In-app issuance platform, X or TikTok tags | X tags | In-app issuance platform | In-app issuance platform, X tags | | Token Issuance Fees | No fees | 0.02 SOL | No fees | 0.02 SOL in-app, no other fees | No fees | No fees | No fees | | Amount Required to Complete "Bond Curve" | 60 SOL | 432 SOL (classic curve) | 30--85 SOL (customizable) | 50 SOL | 85 SOL | 85 SOL | 400 SOL | | Percentage of Token Supply Available for Issuer to Purchase (%) | 80% | 80% (classic curve) | 20%--80% (customizable) | If launched on dApp, 84.1%, must purchase tokens after deployment | 0%; must purchase tokens after deployment | 80% | 50% | | Launch Platform Fees | 1% fee per buy/sell transaction, 0.015 SOL fee from LP "graduation" | 1% fee per buy/sell transaction | 1% fee per buy/sell transaction | 0.25% fee per buy/sell transaction | Dynamic fees using Meteora's anti-sniping kit (2%/floor) | 1% fee per buy/sell transaction | 1% fee per buy/sell transaction | | DEX for "Graduated" Token Deployment | Pumpswap | Meteora or Raydium (customizable) | Raydium | Raydium | Meteora | Raydium | Raydium | | Additional Features/Notes | 　 | Offers two different bond curve options (classic or flat), if the token is deployed on Meteora, deployers receive 90% of the fee share | Built-in token lock option for deployers, 10% of fees shared with issuers after "graduation" | 　 | Fee distribution: >1% to creators, >0.1% to explorers, >0.9% to Believe (based on 2% fee) | 10% fee share distributed to deployers after LP "graduation", Letsbonk.Fun is built with Launchlab's technology | Provides fee sharing and secondary token airdrops for $BOOP stakers, and $BOOP emissions for token deployers and graduated token holders |

Daily New MEME Issuance Quantity:

# 4. Future Development

Currently, there are many homogeneous token issuance platforms in the MEME market. These platforms may temporarily capture some market heat from PumpFun, but the sustainability of the project is the key indicator for market evaluation once the short-term heat money fades. From the current mechanisms and market performance, Believe and LetsBonk.fun have made significant optimizations in their issuance methods and ecological cooperation. Believe's launch of token issuance on X greatly simplifies the MEME issuance process, while LetsBonk.fun deeply binds with Bonk to create ecological synergy. As market sentiment gradually cools, investor enthusiasm will continue to decline, and more similar competitive products will emerge. The continued popularity of Believe and LetsBonk.fun depends on whether they can propose new innovations or incubate truly "wealth-effect" meme assets.

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