LetsBonk.fun Generates $500K in 24-Hour Fees, Intensifies Competition with Pump.fun on Solana

On May 13, 2025, LetsBonk.fun, a Solana-based memecoin launchpad, reported $500,000 (2,880 SOL) in fees generated from 6,911 new tokens created in just 24 hours, as announced by founder Tom (@SolportTom) and amplified by Unipcs, aka “Bonk Guy” (@theunipcs). Since its launch on April 26, 2025, the platform has facilitated the creation of 26,902 tokens, accumulating $2 million (10,197.83 SOL) in total fees, positioning it as a notable competitor to Pump.fun in the Solana ecosystem. Amid this growth, a brief controversy involving Pump.fun blocking and then unblocking LetsBonk.fun’s team underscores the intensifying competition in Solana’s memecoin space.

Explosive Growth and Competitive Edge

Launched by BONK community members and Raydium contributors, LetsBonk.fun has rapidly emerged as a leader in Solana’s memecoin sector since its debut on April 26, 2025. The platform’s streamlined token creation process—where users simply input token details and define supply—has drawn global attention for its cost-effectiveness and efficiency. LetsBonk.fun charges a 1% swap fee and a portion of post-migration trading volume, with proceeds funding platform development, BONKsol validator rewards, and a buyback-and-burn mechanism for BONK tokens.

The platform’s growth is striking. Within two weeks of launch, LetsBonk.fun has enabled the creation of 26,902 tokens, generating $2 million in fees. The $500,000 earned in a single day on May 12 highlights its momentum, fueled by a surge in memecoin activity on Solana. BONK, the ecosystem’s native token, trades at $0.00002194 as of the press time, up 27.97% in the past week, reflecting growing market confidence.

Pump.fun Controversy: From Block to Reconciliation

LetsBonk.fun’s rise has drawn attention from competitors. On May 12, 2025, Pump.fun co-founder @a1lon9 briefly blocked LetsBonk.fun’s lead developer Tom (@SolportTom) and Raydium contributors on X, prompting Unipcs to criticize the move as a response to LetsBonk.fun’s growing influence. Pump.fun, long a dominant force in Solana’s memecoin launchpad space, appears unsettled by the challenge. Unipcs called Pump.fun’s actions “ironic” given its own role in accelerating memecoin proliferation.

Following public criticism, @a1lon9 unblocked the LetsBonk.fun team later that day, a decision Tom responded with “no bad blood,” suggesting a potential easing of tensions.

Incentives Fueling Creator Engagement

LetsBonk.fun’s growth is propelled by creator-focused incentives. On May 4, 2025, the platform partnered with Raydium to offer a 50,000 RAY airdrop for eligible Launchlab and LetsBonk.fun traders, boosting user engagement. On May 11, LetsBonk.fun announced a $5,000 reward for five tokens that “take off and sustain” over the following week. On May 13, Tom added a $15,000 bonus for the top-performing project next week.

The platform also shares 10% of liquidity pool (LP) fees post-migration with token creators, a policy announced on May 4 that aligns with Solana’s community-driven ethos. FARTCOIN dev also deployed two tokens on LetsBonk.fun within 24 hours—FANGPI and BarkCoin—with BarkCoin reaching a $826,700 market cap by May 13, drawing broader attention and engagement to LetsBonk.fun.

AI Innovation and Social Media Integration

LetsBonk.fun is innovating with AI-driven tools to enhance user experience. The platform secured a $5,000 grant to develop a tool that converts X posts or comments into tokens in seconds, with plans to extend one-click token deployment to TikTok, Telegram, and WeChat content. Its flagship AI tool, BonkAI, integrates 800+ news and crypto Twitter sources, auto-filling launch cards for users to create news-based tokens. LetsBonk.fun also offers a $5,000 reward for the most successful BonkAI-generated token.

A distinguishing feature of LetsBonk.fun is its focus on the Chinese market. The platform is not only developing tools to enable one-click token creation from content on Chinese social media platform WeChat, but it also incorporates narratives tied to trending Chinese topics. The latest trending token on LetsBonk.fun, $IKUN, exemplifies this approach, embodying a meme deeply rooted in Chinese pop culture.

Market Context and Solana’s Memecoin Boom

LetsBonk.fun’s success reflects Solana’s vibrant memecoin ecosystem. According to DeFiLlama, Solana’s 24-hour DEX trading volume reached $4.258 billion as of May 13, 2025, underscoring its dominance in decentralized trading. The launch of LetsBonk.fun coincides with a heated crypto market, as trading momentum from Bitcoin (BTC) and Ethereum (ETH)—which trade over $103,000 and $2,400 respectively as of May 13—shifts toward altcoins, potentially driving trading volume to memecoins. However, skeptics remain cautious about LetsBonk.fun’s long-term prospects, questioning whether Solana’s memecoin launchpad market is oversaturated beyond investor demand. Nevertheless, competition between platforms like Pump.fun and LetsBonk.fun is likely to spur innovation, ultimately enhancing the trading experience for investors.