The Old King is Dead, the New King is Crowned: The Power Transition of Meme Token Platforms

Recently, friends issuing tokens on Solana have been mentioning Pump.fun less and less, turning instead to a new name—LetsBONK.fun.

Some say that Pump.fun has abdicated, and the new king is it.

What exactly happened? Why is the choice of community users quietly changing?

We will tell you the story of this "platform transition" in simple terms.

Pump.fun: From Former Dominator to Deep in the Public Opinion Maelstrom

For more than a year, Pump.fun was the hottest Meme token issuing platform on Solana.

It was easy to operate; with just a few steps, anyone could issue tokens, attracting a large wave of creators and speculators.

At one point, it could launch tens of thousands of Meme projects in a single day, making a fortune.

But problems gradually surfaced:

• The platform made a lot of money, accumulating over $700 million in revenue in more than a year.

• User returns were very low; data showed that less than 5% of users could earn over $1,000.

• The platform did not support project growth and left little for the community or ecosystem.

• Finally, it announced plans to issue a platform token, with a valuation as high as $4 billion!

In summary: the platform earned a lot, but users became "supporting tools."

Image: Pump.Fun related addresses sold off 112,000 SOL, approximately $16.89 million.

LetsBONK.fun: Not Here to Compete, but to "Co-Build"

In April 2025, the token issuing platform LetsBONK.fun, led by the Meme coin BONK community, went live.

From the start, it was impressive:

• On its first day, 800,000 people participated, and 2,700 tokens were launched.

• Within 24 hours, the trading volume exceeded $300 million.

• As of now, over 180,000 tokens have been issued through the platform, far surpassing similar platforms.

The biggest difference is: the platform does not harvest from everyone but returns income to the ecosystem.

A true "co-building platform": How is the income distributed?

Let's look at the on-chain distribution data from July 7, 2025 (total revenue 68,768 SOL):

|------------------|--------|-------------|-----------------------------------------| | Category | Share | SOL Amount | Description | | Buyback and Burn BONK | 50% | 34,453 SOL | Used to buy back BONK from the market and burn it, enhancing BONK's scarcity and naturally increasing holder value. | | BONKsol Node Staking | 15% | 10,335 SOL | Enhancing Solana network security. | | Development/Growth/$GP Reserve | 7.6% each | 5,236 SOL each | For technical integration, developer incentives, and platform operations. | | SBR Community Governance | 4% | 2,756 SOL | Returned to the community for use. | | BonkRewards User Incentives | 4% | 2,756 SOL | Distributed to participants. | | Marketing | 4% | 2,756 SOL | Promoting the platform and ecosystem projects. |

Table: LetsBONK.fun income distribution details.

The Mutual Achievement of Platform and Meme: LetsBONK.fun is Not Just Encouragement, but Real Financial Support

The LetsBONK.fun platform not only supports project launches but also genuinely invests money to help.

For example, with $USELESS:

• The platform directly purchased $USELESS from the market to establish a project treasury.

• It used this asset to help the project apply for listing on a tier-one exchange.

• According to statistics, this initiative has invested over $600,000.

In the meme world, such support is almost unprecedented.

Pump.fun made money through community enthusiasm but left no resources for projects; whereas Bonk.fun uses real money to elevate projects to a larger stage.

It can be said that LetsBONK.fun has done what Pump.fun never did, and users are voting with their feet.

A Set of Latest Data That Says It All:

As of July 2025:

• The token issuance volume of LetsBONK.fun reached 15,600, officially surpassing Pump.fun's 11,500.

• LetsBONK's market share is 51%, while Pump.fun has dropped to 39.9%.

• The number of popular projects, active users, and daily trading volume are all leading.

These are not merely based on "hype," but are a new generation of token issuance samples combined with community, functionality, and narrative.

So, why did users choose LetsBONK.fun?

Because it conveys a signal:

• You are not a victim; you are a co-builder.

• Projects are not meant to be exploited; they are meant to grow.

• Participation is not about "dreaming," but about "doing."

This is also why so many people flock to this platform—not just to issue a token, but for a space where they can "play long and engage deeply."