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Title Category One sentence summary Infobox, one "key: value" per line Article body, markdown, use [[wiki links]] and end with a ## References section

LetsBonk.fun is a meme coin launchpad on [[solana]] created by the [[bonk|BONK]] community in collaboration with [[raydium]], launched on April 25, 2025. Built on Raydium's LaunchLab infrastructure, it copied the [[pump fun]] formula of instant [[bonding curve]] launches while routing its economics back into the BONK ecosystem, and for a few weeks in mid 2025 it did what no competitor had done before: it overtook pump.fun as the largest launchpad in [[the trenches]].

## Model

LetsBonk charges a fee of about 1 percent on swaps, but unlike pump.fun's early model, the revenue is deliberately recycled: portions fund platform development, support the network through the BONKsol validator, and buy back and burn BONK tokens. Graduated tokens migrate to Raydium liquidity. This alignment gave every BONK holder a reason to promote the platform, effectively turning an existing token community into a distribution network.

## The July 2025 flip

Riding momentum from breakout tokens and community campaigning, LetsBonk's share of Solana launchpad activity exploded in July 2025. Between July 7 and July 23 its market share against pump.fun grew from about 22 percent to 64 percent, earning about $7.9 million in revenue in that stretch against pump.fun's $3.1 million, and some daily snapshots around July 25 put LetsBonk above 80 percent of bonding curve activity while pump.fun fell as low as 12 percent. Measured across the month, LetsBonk captured roughly two thirds of all Solana token launches. The flip dominated crypto media as proof that pump.fun's position was contestable, and it pressured the newly listed [[pump token|PUMP]] token, which fell as the platform lost dominance.

## Reversal and decline

The lead did not hold. By August 5, 2025 LetsBonk's share had slipped to about 44 percent against pump.fun's 37 percent, and by late August it graduated only five tokens in a 24 hour period while pump.fun graduated more than 170. Analysts attributed the reversal to pump.fun's revenue advantages, its creator fee overhaul under [[project ascend]], and the difficulty of sustaining BONK linked incentives once the initial buzz faded; pump.fun rebounded to roughly 74 percent share with $13.48 million in weekly revenue. Through 2026 the launchpad field fragmented further, with entrants such as Bags, Sugar, Heaven and Jupiter Studio competing for the remainder, and LetsBonk settled into a minor share of activity.

## Legacy

LetsBonk's run remains the high water mark of the 2025 launchpad wars. It demonstrated both that an incumbent's [[graduation rate|order flow]] can migrate in days, and that fee rebate driven market share tends to evaporate just as quickly.

## References

1. https://www.coingecko.com/learn/letsbonk-fun-solana-memecoin-launchpad-guide
2. https://dropstab.com/research/crypto/pump-fun-vs-lets-bonk-tracking-market-dominance
3. https://blockchainreporter.net/letsbonk-fun-overtakes-pump-fun-as-solanas-largest-memecoin-launchpad-but-investor-interest-waning/
4. https://bravenewcoin.com/insights/the-platform-wars-letsbonk-funs-surprise-victory-over-pump-fun
5. https://stepdata.substack.com/p/letsbonk-claims-82-of-bonding-curve
6. https://www.cryptopolitan.com/letsbonk-compounds-pump-fun-decline-july/
7. https://www.mitrade.com/insights/news/live-news/article-3-1055849-20250821
8. https://yellow.com/research/solana-launchpad-wars-2025-how-pumpfun-heavendex-and-letsbonk-are-revolutionizing-crypto-token-launches
9. https://coingape.com/block-of-fame/pulse/raydium-and-bonk-launch-a-new-memecoin-launchpad-platform-to-support-solana/

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