The evolution of the Memecoin track from Pump.fun to LetsBONK.fun
In today's rapidly advancing cryptocurrency industry, the Memecoin sector is exploding at an unprecedented speed. However, as the craze sweeps through, more and more people are beginning to reflect: does this traffic feast also hide structural concerns?
Ethereum co-founder Vitalik Buterin's recent remarks have sparked widespread discussion online. In a public discussion, Vitalik openly criticized several platforms, including Pump.fun, arguing that these projects stem from a "flawed social philosophy," pursuing short-term profits and lacking a sense of responsibility, which could ultimately have long-term negative impacts on the entire crypto ecosystem.
Vitalik emphasized that what truly drives industry progress are those projects with a long-term vision and healthy values. In the Memecoin field, such projects are particularly scarce.
(Vitalik publicly criticizes projects like Pump.fun on Farcaster)
The Hidden Harvesting Game Behind Pump.fun's Surge
It is undeniable that Pump.fun has rapidly risen to the top as a leading Memecoin issuance platform over the past few months through a simplified token issuance process and extremely low costs. By 2025, it has transferred over 3.2 million SOL (approximately $324 million) to exchanges, with profits that are astonishing.
However, at the same time, Pump.fun has also exposed significant issues:
Continuous outflow of fees: According to OnchainLens monitoring, a large amount of fees collected by Pump.fun are directly transferred to CEX for cashing out, rather than reinvesting in the ecosystem.
Varied project quality: The platform lacks a filtering mechanism, leading to an oversaturation of Memecoins and increased trial-and-error costs for users.
Intensified negative feedback in the ecosystem: As market enthusiasm declines, the platform's traffic and revenue simultaneously decrease, resulting in weakened confidence.
In this model dominated by "maximizing platform profits," it is difficult for users and the ecosystem to gain sustained value support.
(Pump.fun transferred $15 million worth of SOL to Kraken)
Injecting Sustainable Genes into Memecoins: LetsBONK.fun Delivers a New Answer
As the market gradually becomes wary of "short-term harvesting" platforms, the leading Meme project on the Solana chain, the BONK community, has partnered with Raydium to launch a new Memecoin issuance platform—LetsBONK.fun.
Rather than simply imitating, LetsBONK.fun established its mission of "reinvesting in the ecosystem and empowering the community" from the very beginning.
It not only replicates Pump.fun's simple and efficient user experience but also undergoes profound innovations in mechanism design:
- More Constructive Fee Distribution
LetsBONK.fun charges a 1% fee on each internal token transaction, and a small fee is also charged when tokens are migrated to external exchanges. Unlike Pump.fun's simple profit extraction, LetsBONK.fun clearly divides fee income into three parts:
Continuous development and platform operation to ensure product evolution;
Staking to BONKsol nodes to enhance Solana network security;
Repurchasing and burning $BONK to directly increase the value for holders.
- Liquidity Binding with Raydium, Opening Ecological Circulation
LetsBONK.fun chooses to deeply bind with Solana's top DEX—Raydium, providing initial liquidity for newly issued tokens, avoiding project "self-destruction," and breaking the closed internal cycle.
In this model, every transaction fee not only supports the platform's own development but also, to varying degrees, reinvests in the entire Solana ecosystem.
Although LetsBONK.fun is still in its early stages, this mechanism design that emphasizes sustainability undoubtedly sets an example for the Memecoin field.
Value Conflict: Short-Term Profit vs. Long-Term Co-Building
Currently, Memecoin issuance platforms generally present two different development logics:
One emphasizes maximizing short-term profits, attracting a large number of token issuances with extremely low thresholds, pursuing rapid growth;
The other attempts to inject considerations of ecological responsibility beyond user experience, exploring the possibility of long-term value co-existence.
Pump.fun and LetsBONK.fun, to some extent, represent these two routes.
| Platform | Fee Usage | Liquidity Strategy | Ecological Contribution | Community Binding | |--------------|--------------|-----------|------|-------------| | Pump.fun | Cash out | Self-built DEX | Extremely low | Almost none | | LetsBONK.fun | Development, node staking, repurchase and burn | Binding with Raydium | Continuously enhanced | Community incubation, highly bound |
From the perspective of short-term traffic and profits, Pump.fun still possesses a strong first-mover advantage;
Whereas from the dimension of long-term ecological contribution, the exploration of new platforms like LetsBONK.fun injects different possibilities into the industry.
Conclusion: The Memecoin Era Needs More Rational Choices
As the threshold for Memecoin issuance continues to lower and the number surges, the role of issuance platforms is changing.
They are not only providing tools for one-click token issuance but also subtly shaping the sustainability of the ecosystem.
Perhaps future Memecoin platforms will no longer be just simple traffic entrances but will become new power sources that drive the improvement of public chain infrastructure and incentivize community co-construction.
The emergence of LetsBONK.fun is a beneficial attempt within this trend.
Ultimately, the market will respond with choices: between speed and value, which path can truly go further?
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