# 1. Believe

Introduction to Believe

Believe is a MEME token issuance platform created by Ben Pasternak, originally known as Clout.me, which focused on the "celebrity token issuance" model. After a brand upgrade, the project has shifted its core focus to the field of "social assetization." The core mechanism allows users to publish tweets on X in the format of $TICKER+NAME and @launchcoin, after which 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 surpasses 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 as a 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 cap 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 cap 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 due to the endorsement of technical elites. The token's market cap 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 an in-app "one-click issuance" feature, 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, the platform charges a 1% fee on each transaction, 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 the token approaching 50,000 transactions on May 15 (a 233% increase from the average level).

Popular Projects on LetsBonk.fun

1. Hosico

Hosico is based on 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 cap 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 through this nihilistic and emotional narrative style. Since the launch of BONK, its market cap 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 project parties 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 the 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 numbers, there remains a significant gap compared to its overall scale.

Daily new MEME issuance numbers:

# 4. Future Development

Currently, there are many homogenized token issuance platforms in the MEME market. These platforms may temporarily capture some market heat from PumpFun, but the sustainability of the projects will be the key indicator for market evaluation once the short-term heat fades. From the current mechanisms and market performance, Believe and LetsBonk.fun have made significant optimizations in their issuance methods and ecological collaborations. 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 will depend on whether they can propose new innovations or incubate truly "wealth-effect" meme assets.

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