Comparative Analysis of Emerging Solana Launchpads
As Bitcoin trades near its all-time highs and leading altcoins, including Solana (SOL), surge alongside it, one sector in the Solana ecosystem has emerged as a clear outperformer: launchpads.
The DWF Ventures team did a research on this fast-growing sector and the emerging players that reshape how new tokens are introduced to the market. Let’s dive in!
Solana Launchpads in Focus: A Sector Reborn
According to data from CoinGecko, the launchpad sector has seen its total market capitalisation climb nearly 60% over the past seven days, leading up to 16 May 2025. This resurgence has been driven in part by the arrival of three new Solana-native launchpads: Boop.fun, LetsBONK.fun, and Believe App, each challenging conventional models with new mechanisms for creator incentives, bonding curves, and curated fundraising. But which has performed best, and why? To find out, we need to take a closer look at each of them.
Check the comparison table of these platforms below, and keep reading to learn more:
Comparative Analysis of New Solana Launchpads. Source: DWF Ventures. Data as of May 16, 2025
Boop.fun: Creator Pools and Cult Communities
Boop.fun, created by the founder of PancakeSwap, is a decentralised memecoin launchpad built on Solana that makes it easy for users to create and launch their own tokens, affectionately called ‘cults’. Designed with simplicity in mind, the crypto platform lowers the barrier to entry for creators while fostering vibrant, community-driven token economies.
To fairly balance the interests of creators, holders, and traders, Boop.fun introduces a unique fee-sharing and rewards structure. Token creators who hold at least 1% of their token supply receive 10% of the liquidity pool (LP) fees generated on Raydium, one of Solana’s leading decentralised exchanges. In addition, daily rewards of the platform’s native token, BOOP, are distributed between the creators and holders of ‘graduated’ cults, or simply said tokens that have successfully completed their launch phase. The rest of the platform and LP fees are shared between Boop’s stakers and core team, with a portion reserved for regular BOOP buybacks and burns, to support a more sustainable token model.
Daily active users on the Boop.fun platform. Source: Dune Analytics, @mwuhjyf
However, on top of offering a sustainable way to bootstrap funds via LP fees, the daily BOOP rewards act as an extra incentive for long-term-aligned creators. The platform also introduces a social dimension, using Kaito algorithms to recognise and reward the most active and engaged cult communities.
Regardless of the fact that Boop.fun has seen early success and traction among memecoin enthusiasts and cult-style communities, more work remains to increase long-term user retention and deepen trading volume.
Moving to the next best Solana launchpad competition contender.
LetsBONK.fun: Bonding Curve Meets Ecosystem Power
Developed by Graphite Protocol in collaboration with Raydium Protocol’s LaunchLab, LetsBONK.fun is the latest addition to the BONK ecosystem. The platform benefits from immediate access to Radium liquidity pools and crypto trading bot integrations.
As part of its incentive structure, LetsBONK.fun distributes a share of fees to the creators of graduated tokens. Creators who successfully bond and migrate their crypto are eligible to receive 10% of all liquidity pool fees generated on Raydium, along with a 10% rebate on the SOL fees collected through the platform’s bonding curve. The remaining fees are allocated across multiple initiatives within the BONK ecosystem. These include the purchase of BONKsol, support for SBR-related campaigns, ecosystem-wide rewards, platform operations and growth, as well as ongoing BONK buybacks and burn.
To ensure continued alignment and transparency, the platform’s team has confirmed that graduated tokens will be monitored and snapshotted over time, hinting at further updates and features in the pipeline.
In terms of adoption, LetsBONK.fun has experienced significant momentum. In mid-May 2025, over just a few days, both revenue and the number of token launches nearly doubled, reaching around 20,000 SOL and 45, 000 launches respectively. This rapid growth has not only captured attention across Solana but also helped Raydium’s LaunchLab overtake Pump.fun in 24-hour token graduates, which is a clear signal of shifting momentum in the launchpad space.
Revenue and Launch Growth on letsBONK.fun. Source: LB Data. Data as of May 14, 2025
Believe App: Transforming Web3 Fundraising on Solana
Recently rebranded from Clout, Believe App is a platform designed to rethink traditional fundraising models, with a particular focus on helping Web2 developers make the leap into Web3 space. At the heart of its offering is the concept of Internet Capital Markets (ICM), an emerging crypto narrative where platforms and tokens enable new forms of on-chain financing, investing, speculation, and fundraising native to the internet age. Rather than raising capital through conventional venture channels, founders attract supporters who believe in their vision and choose to purchase their tokens. The 2% trading fee from the liquidity pool is split evenly between the Believe App and the token founders, providing a stream of funding to help the idea evolve. To reinforce long-term commitment, the founder’s share is vested, aligning incentives and ensuring accountability as the project matures.
Believe App Core Metrics and Performance Analytics. Source: Believe Stats. Data as of May 14, 2025
The tokens do not represent equity in a company or promise any financial return to holders, but still they are expected to carry future utility, primarily focused on rewarding early believers who supported the idea from the outset. Despite having launched in early May 2025, less than a week before the time of writing, Believe App has already gained impressive traction, generating over $13 million (data as of May 14, 2025) in total fees for creators. It is also worth noting that projects launched via the platform are subject to a level of curation by the Believe team, helping to maintain quality and trust within the crypto ecosystem.
Pump.fun: The Incumbent Strikes Back
Pump.fun, long considered the leader in Solana’s memecoin launch scene, has not stood still in the face of rising competition. In response it has introduced a new revenue-sharing model aimed at creators.
The updated revenue sharing model sets aside a portion of every trade (0.05%) on PumpSwap for token creators, regardless of whether the project is still in its bonding curve phase or has fully graduated. This ensures that creators continue to benefit from long-term trading activity, even after the initial launch hype fades.
Comparative Perspectives: A Fragmented but Growing Field
While each of these platforms shares a goal of redistributing fees and elevating creators, their execution strategies actually differ.
Boop.fun focuses on cultivating high-engagement communities through memetic alignment and daily rewards. LetsBONK.fun leverages BONK’s ecosystem momentum and Raydium’s technical infrastructure. Believe, by contrast, offers a more curated and professionalised path, such as the concept of ICM, for Web2 builders entering Web3. And Pump.fun, though more mature, is evolving its model to maintain market share.
Conclusion
Regardless of who leads the race, the growing competition is good news for the market. It pushes innovation forward, increases user choice, and challenges projects to prioritise fairness and sustainability.
DWF Ventures is closely tracking this wave of launchpad innovation. The convergence of creator incentives, decentralised infrastructure, and community coordination presents a fertile ground for meaningful progress in how digital assets are issued and adopted.
