This battle for traffic not only quickly ignited market enthusiasm but also revealed the increasingly fierce competition among MEME issuance platforms, leading to profound changes in the entire ecological landscape.

Written by: Nancy, PANews

On May 14, the MEME market witnessed a captivating showdown, with a MEME coin named Glonk launching simultaneously on two major Launchpad platforms, Pump.fun and Letsbonk.fun. Although the phenomenon of issuing tokens from the same IP on different platforms is not new, what makes this event special is that the founders of both platforms personally participated to promote their respective versions of Glonk.

This battle for traffic not only quickly ignited market enthusiasm but also revealed the increasingly fierce competition among MEME issuance platforms, leading to profound changes in the entire ecological landscape.

Glonk stirs up platform warfare, founders personally join the fray

Early this morning, a MEME coin $Glonk, originating from the absurd humor culture of the UK, suddenly sparked market excitement. Its prototype is the fictional character Glonk from the illustrated book series "Flanimals" created by the famous British comedian Ricky Gervais, a green reptile that has resonated with a large number of readers due to its "sad yet funny" contradictory nature, humorously dubbed as an emotionally stable loser. Glonk has also been assigned subcultural labels of "lying flat" and "nihilism," aligning with the current young generation's attitude of giving up, giving it strong meme propagation potential.

At the same time, Ricky Gervais, as a heavyweight figure in the British comedy scene with millions of fans, provides $Glonk with a natural level of attention and a foundation for dissemination.

Co-founder of Pump.fun Alon and founder of Letsbonk.fun Tom

Glonk initially debuted on the Letsbonk.fun platform and quickly gained popularity, after which Pump.fun also launched a competing version, rapidly escalating the competition between the platforms. The personal involvement of both founders in posting calls to support their respective platforms' Glonk further heightened the competition, evolving into a high-profile platform confrontation within the Solana ecosystem. The community also viewed this struggle as a "flag of resistance" against Pump.fun, further stimulating the topic and community engagement surrounding Glonk.

Adding to the drama, the Solana ecosystem project Raydium openly voiced support for the Letsbonk.fun platform. It is worth noting that Raydium and Pump.fun were once allies, with the latter contributing nearly half of its trading volume and platform revenue, and Raydium itself is also promoting its own token issuance platform, LaunchLab. The sudden shift in allegiance undoubtedly adds more tension to this competition. Another small episode is that a few days ago, the official Pump.Fun X account had blocked the founder of Letsbonk.Fun and Raydium developers, which has now been lifted.

According to GMGN data, as of the time of writing, the market cap of the Letsbonk.fun version of Glonk peaked at over $18 million, now having fallen back to about $3.7 million, with a 24-hour trading volume exceeding $86.3 million, currently holding the upper hand; while the Pump.fun version of $Glonk saw its market cap drop from a peak of $15 million to about $1.5 million, with a 24-hour trading volume of $55.7 million. The market has expressed its stance on this showdown with real money.

It can be said that the competition surrounding Glonk serves as an amplifier of community sentiment and a re-negotiation of discourse power.

Pump.fun's dominance is being challenged, new forces are rising rapidly

The role of Launchpad platforms has evolved from a mere token issuance tool to a battleground for traffic entry and brand competition. Recently, with emerging platforms like Letsbonk.fun, Believe, and LaunchLab rapidly gaining popularity, market competition has intensified. In addition to the leading Pump.fun losing market share, even the recently popular Boop.fun has gradually cooled down, leading to a sharp decline in market discussion.

Although Pump.fun still holds a dominant position, its dominance is gradually being weakened. Looking at the graduation rates, for example, on May 13, according to Dune data, Pump.fun launched a total of 19,523 tokens that day, with a graduation rate of only 0.7%; in contrast, LaunchLab launched 8,218 tokens with a graduation rate of 1.22%; and Letsbonk.fun launched 7,287 tokens with a graduation rate as high as 1.7%. This indicates that user interest and recognition of emerging platforms are on the rise.

In terms of daily token deployment market share, Pump.fun's share has dropped from a long-standing 95% or more to 57.5% on May 13; during the same period, Letsbonk.fun reached 17.9%, Believe 12.9%, and LaunchLab also reached 5%, showing that the market landscape is rapidly diversifying.

More notably, several recently popular MEME tokens, such as $LAUNCHCOIN, $GOONC, $DUPE, $Hosico, $USELESS, and $IKUN, primarily emerged from Letsbonk.fun and Believe. Particularly, the Believe ecosystem tokens saw a general surge, with the platform token LAUNCHCOIN once surpassing $280 million. In contrast, projects from Pump.fun during the same period performed flatly, lacking new highlights.

These changes indicate that the Launchpad market is rapidly diversifying, with competitors gradually eating away at Pump.fun's leading advantage. In response to competitive pressure, Pump.fun has recently attempted to enhance platform attractiveness by introducing a creator revenue-sharing mechanism, returning 50% of transaction fees to token creators. However, this initiative has sparked controversy within the community, as it is believed to potentially exacerbate developer rug risks, and the remaining 50% of revenue still stays with the platform, failing to truly benefit users. Competing platforms are also ramping up their incentive mechanisms; for example, Letsbonk.fun announced on May 13 that it would provide a total of 15,000 USDC in rewards to projects performing well in the following week, further enhancing platform attractiveness.

In summary, the Launchpad market is entering a new stage characterized by greater diversity and intensified competition. The competition between platforms is no longer limited to who can issue tokens but also involves comprehensive competition for traffic acquisition, brand building, and user experience, which is key to becoming the next "hit-making machine."

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。