Not just to issue a token, but to create a space where one can "play for a long time and engage deeply."
Written by: 0xresearch
Recently, friends issuing tokens on Solana have been mentioning Pump.fun less and less, instead talking about a new name—LetsBONK.fun.
Some say Pump.fun has stepped down, and the new king is here.
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 ruler to being mired in public opinion
For more than a year, Pump.fun was the hottest meme token issuance platform on Solana.
It was easy to operate; just a few steps to issue your own token, attracting a large wave of creators and speculators.
At one point, thousands of meme projects could go live 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 just over a year.
User returns were minimal, with data showing that less than 5% of users could earn more than $1,000.
The platform did not support project growth and left little for the community or ecosystem.
In the end, it even announced plans to issue a platform token, with a valuation of up to $4 billion!
In summary: the platform earned a lot, but users became "tools for running alongside."
Image: Pump.Fun related addresses sold off 112,000 SOL, approximately $16.89 million.
LetsBONK.fun: Not here to exploit, but to "co-build"
In April 2025, the meme coin BONK community launched the token issuance platform LetsBONK.fun.
From the start, it was impressive:
On the first day, 800,000 people participated, with 2,700 tokens released.
Trading volume exceeded $300 million within 24 hours.
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 revenue to the ecosystem.
A true "co-building platform": How is revenue distributed?
Let's look at the on-chain distribution data from July 7, 2025 (total revenue 68,768 SOL):
The mutual achievement of the platform and memes: LetsBONK.fun not only encourages but also provides real financial support.
The LetsBONK.fun platform not only supports project launches but also genuinely invests money to help.
Take $USELESS as an example:
The platform directly purchased $USELESS from the market to establish the project treasury.
With this asset, it helps the project apply for listing on tier-one exchanges.
Statistics show that this initiative has invested over $600,000.
In the meme world, such support is almost unprecedented.
Pump.fun made money through community hype but left no resources for projects; whereas LetsBONK.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 the latest data 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 new-generation token issuance examples that combine 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 for exploitation; 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 to create a space where one can "play for a long time and engage deeply."
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