Believe and LetsBonk.fun Are Reshaping the MEME Token Issuance Landscape

BitMart Research has released a comprehensive analysis spotlighting two rapidly emerging forces in the MEME token issuance landscape

The research arm of BitMart Exchange has released an analysis highlighting two rapidly emerging forces in the MEME token issuance landscape: Believe and LetsBonk.fun. As competition in the meme economy intensifies, these platforms are reshaping token creation through innovative launch mechanics, deep community integrations, and disruptive incentive structures. The report spotlights the strengths and weaknesses of both platforms in an engaging manner.

The report begins by introducing Believe, the brainchild of Ben Pasternak, and its unique integration with X's social graph. Any user can tweet in the format $TICKER+NAME and mention @launchcoin, and the system will assess the user's social influence and, if met, automatically launch the token via smart contract. Approved tokens first enter a bonding-curve issuance phase and receive a $10,000 seed fund to support the founding team. Once a token's market capitalization surpasses $100,000, it will migrate to the Meteora protocol for liquidity enhancement and deeper market-making support.

According to the official economic model, the platform applies a 2% transaction fee: 1% is awarded to the token creator, 0.1% goes to community "evangelists" (those who actively promote the token), and the remaining 0.9% funds platform maintenance. This tiered revenue structure both safeguards creators' core interests and fuels community-driven early promotion, providing the financial foundation for sustainable platform growth.

The report highlights several popular projects on Believe, showcasing the diversity of the ecosystem. LaunchCoin, the flagship token of the Believe ecosystem, is an upgraded iteration of Ben Pasternak's early PASTERNAK token, fully embodying the brand evolution from Clout.me to the Believe platform. On its first day of trading, LaunchCoin reached a $80 million market capitalization. After weathering market fluctuations, it began a strong recovery on May 11 and has since grown to a $330 million market cap—40× its launch valuation—with over 27,000 unique holders.

Dupe is the ecosystem token for the furniture-affordable search engine Dupe.com, which has an official Instagram account with 367,000 followers and a monthly active user base of over 1 million. Dupe's market cap peaked at $70 million and currently hovers around $34 million.

Finally, the report mentions a token called GOONC, issued by Pata van Goon, an engineer from the OpenAI tech team. The token went viral quickly thanks to its technical-elite endorsement, with its market cap once surging to $70 million and now stabilizing in the $45.5 million range.

Next, the analysis turns to LetsBonk.fun, a meme token issuance platform jointly launched by BONK—the leading meme project in the Solana community—and Raydium. Positioned as Solana's LaunchPad + creator-incentive hub, the platform went live on April 26 and has recently enjoyed a surge in popularity with meme projects like Hosico, Useless, and IKUN.

To launch a token on LetsBonk.fun, users simply need to click "Create Token" within the app, though a minimum of 2 SOL of liquidity must be provided before the token can be listed for trading on Raydium. Every trade on the platform incurs a 1% fee, which is allocated to the development fund, BONKsol validators, and BONK buy-and-burn. Specifically, 0.5% of the fee goes to the development fund for covering platform operation and maintenance expenses, while 0.3% is used to buy back and burn BONK tokens to appreciate their value. An additional 0.2% is distributed to BONKsol validators to ensure smooth network operation, and the remaining 0% is allocated to providing liquidity on Raydium to facilitate efficient trading of the newly launched tokens.

The platform's revenue has soared since launch, with daily revenue surging from roughly 2,000 SOL on April 29 to 24,000 SOL on May 15—a more than 12× increase. Meanwhile, token issuance also spiked to nearly 50,000 tokens on May 15, showcasing the platform's growing popularity.

The analysis highlights several popular projects on LetsBonk.fun, showcasing the platform's role in fostering a vibrant meme ecosystem on Solana. One notable project is Hosico, a token inspired by an Instagram cat with 1.8 million followers and rendered in a Ghibli-style AI aesthetic. The token launched at 4 AM and reached a $10 million market cap within its first hour. It later peaked at $60 million and currently sits at around $22 million.

Another interesting project is Useless, which was born from a tweet by BONKGUY on X: "This is a useless currency;