A digital asset
investment fund
Viska is an alternative investment fund based in Iceland that invests in digital assets.
Viska is an alternative investment fund based in Iceland that invests in digital assets.
Over the past months, Solana has become the epicenter of no-code meme coin creation. At its heart are token launchpads, tools that let anyone create and trade coins instantly. These platforms have evolved from niche tech utilities into engines of viral community engagement. At the forefront is LetsBonk, which has recently overtaken Pump.fun in daily token volume, reshaping market dynamics in the process.
A token launchpad is a streamlined on-chain platform that allows users to instantly create tokens, assign bonding curve pricing, and enable trading, all without needing technical expertise. Users simply input token metadata like name and supply, pay a small creation fee, and the token becomes tradable, often with built-in liquidity. Graduated tokens can then migrate to external decentralized exchanges. This process lowers the barriers to entry and enables widespread tokenization.
More than 1 million memecoins were launched on Pump.fun alone, data from Bloomberg Crypto
Graduation refers to the transition of a token from the launchpad’s internal ecosystem to external liquidity pools. This typically requires hitting thresholds in market capitalization and liquidity. Graduation serves as a signal that a token has achieved sufficient traction, enabling broader trading and visibility. However, only a small percentage of tokens reach this stage, making it a key filter for market sustainability.
Data from Dune shows that less than 1% of tokens that are launched even reach the point of ‘‘graduation’’. As of 24.7.25
The pace of token creation has accelerated massively. Solana’s launchpad ecosystem has seen nearly 12 million tokens deployed in the past 18 months, with hundreds of millions in fees generated. At the height of activity, Pump.fun alone was launching as many as 70,000 tokens daily. Despite this scale, most tokens fail to gain traction. Over 90 percent are inactive within a month, and very few creators earn meaningful profits.
Recently, Pump.fun raised $600 million in less than 12 minutes after launching their $PUMP token through an ICO (Initial Coin Offering).
A turning point occurred in July 2025, when LetsBonk surpassed Pump.fun in daily token launches. On a peak day, LetsBonk minted nearly 20,000 tokens compared to Pump.fun’s 9,000, claiming a majority share of the market. In early July, data showed LetsBonk accounting for nearly half of all new token deployments, with higher graduation figures compared to its competitor. This marked a shift in user preference toward platforms offering greater alignment with community interests.
The appeal of launchpads is rooted in social dynamics. Users are drawn to projects that allow them to participate in something collective, whether that’s a meme, movement, or shared identity. Viral token launches foster community involvement and amplify FOMO, encouraging rapid participation.
LetsBonk differentiates itself through its reinvestment model. Instead of keeping all fees, the platform is now allocating a small portion of its revenue toward buybacks of tokens launched. This approach supports token value, builds trust, and promotes longer-term commitment from users. By aligning incentives, LetsBonk introduces a degree of sustainability into an otherwise speculative space.
An announcement was made via X that LetsBonk would begin buying back tokens using 1% of the total revenue generated on the platform.
Token launchpads have become more than just tools. They are cultural touchpoints in the memecoin era. LetsBonk’s swift rise illustrates how community, accessibility, and feedback loops can redefine participation in crypto. But the rapid pace and low success rates remind us that sustainability remains a challenge. Whether these platforms evolve or fade will depend on how they balance hype with long-term value.
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