比較Solana上的令牌啟動平台

令牌發射台已成為加密生態系統中的既定空間，為籌集資金和啟動流動性的項目提供了結構化的途徑。

Author: samoyedscribes

作者：Samoyedscribes

Compiled by: TechFlow

編譯者：TechFlow

Comparison of Token Launch Platforms on Solana, translated by TechFlow (original image from @samoyedccribes and SIGNUM CAPITAL)

由TechFlow翻譯（@SamoyEdCibres和Signum Capital的原始圖像）翻譯的Solana的令牌啟動平台的比較

A Brief History of Token Launch Platforms

令牌啟動平台的簡短歷史

Token launchpads have become an established space in the crypto ecosystem, providing a structured path for projects to raise funds and initiate liquidity. Prior to the meteoric rise of Pump.fun, this space was dominated by protocols that were more suited to Initial Decentralized Exchange Offerings (IDOs). Protocols such as CoinList, PinkSale Finance, and Fjord Foundry are the go-to options for projects launching on chains like Ethereum and Binance Smart Chain (BSC). These launchpads typically serve established protocols with dedicated builders, and they operate in a more selective manner, with investors needing to be whitelisted to participate in specific fundraisers. These barriers to entry make them less accessible to smaller protocols and less formal projects, such as meme coins or experimental tokens.

令牌發射台已成為加密生態系統中的既定空間，為籌集資金和啟動流動性的項目提供了結構化的途徑。在泵的氣象升起之前，該空間由更適合初始分散交換產品（IDO）的協議主導。諸如Coinlist，Pinksale Finance和Fjord Foundry之類的協議是在以太坊和Binance Smart Chain（BSC）等連鎖店啟動的項目的首選。這些發射台通常與專門的建築商一起服務已建立的協議，並且他們以更有選擇性的方式運作，投資者需要白名單才能參加特定的籌款活動。這些進入障礙使它們無法使用較小的協議和較少正式的項目，例如模因硬幣或實驗令牌。

Why is Pump.fun so influential?

為什麼Pump.Fun如此有影響力？

The emergence of Pump.fun has been credited by some for ushering in the era of Solana, and it was pivotal in propelling the chain to its dominant position. Launching on Solana, Pump.fun leveraged the blockchain's low cost and high-speed transactions to revolutionize token issuance. Unlike its predecessors, Pump.fun introduced a standardized mechanism to burn liquidity pool (LP) tokens at launch, ensuring that liquidity cannot be withdrawn—a feature that provides additional trust for retail participants, although the platform has not been entirely immune to manipulation by certain insiders.

泵的出現被某些人歸功於索拉納時代，這對於將鏈條推向其主導地位至關重要。在Solana上發佈時，Pump.Fun利用區塊鏈的低成本和高速交易來徹底改變令牌發行。與其前身不同，Pump.Fun引入了一種標準化的機制來燃燒流動性池（LP）令牌，以確保無法撤回流動性，該功能為零售參與者提供了額外的信任，儘管該平台並非完全可以由某些內部人員進行操作。

Pump.fun is truly impactful due to its decentralized approach, allowing anyone, from smaller protocols to less formal projects, to engage in capital raising and liquidity generation in a fair manner. To date, over 10 million tokens have been launched on Pump.fun. This accessibility contributed significantly to the Solana memecoin craze, leading to Solana being recognized as the primary “on-chain casino.” Other chains have attempted to claim this title, but none have succeeded to the same extent. Pump.fun's model, the first of its kind, has enabled an unprecedented level of new token issuance.

Pump.Fun由於其分散的方法而具有真正的影響力，從較小的協議到較少的正式項目，都可以公平地進行資本籌集和流動性產生。迄今為止，已在pump.fun上啟動了超過1000萬個令牌。這種可及性極大地促進了索拉納（Solana Memecoin）的熱潮，導致索拉納（Solana）被認為是主要的“鏈賭場”。其他連鎖店試圖聲稱這個頭銜，但沒有一個成功的範圍。 Pump.Fun的模型是同類的第一個模型，它使新的代幣發行了前所未有的水平。

However, is this a net positive or negative for the crypto space in the long run? On the plus side, Pump.fun lowers the barrier to entry, encouraging greater creativity and experimentation within the Solana ecosystem. But on the down side, it also opens the floodgates for lower-quality projects and large-scale liquidity extraction events, which some believe could be detrimental to the long-term health of the ecosystem. Only time will tell, as the markets will self-correct in due course.

但是，從長遠來看，這是加密空間的淨正還是負面？從好的方面來說，泵送。 FUN降低了進入障礙，鼓勵索拉納生態系統內的更大創造力和實驗。但是，從不足的一面來看，它還為低質量項目和大規模的流動性提取事件打開了閘門，有些人認為這可能不利於生態系統的長期健康。只有時間才能說明，因為市場在適當的時候會自我糾正。

Makenow.meme — Earliest iteration

makenow.meme-最早的迭代

After the success of Pump.fun, Makenow.meme emerged as an early competitor that aimed to take the concept a step further by integrating directly with platforms like X. The idea was to allow users to create tokens by tagging Makenow.meme’s X account on X, making token issuance a seamless, user-friendly experience. In theory, this looked like a promising decentralized application for the masses, combining social media with crypto innovation. However, despite its potential upside, Makenow.meme struggled to achieve product-market fit (PMF). The adoption of the platform was not optimal, leading to a rapid decline in user activity after launch. While the concept was novel, the execution and the incentives to drive mainstream adoption were lacking.

在泵。從理論上講，這看起來像是在群眾中的有前途的分散申請，將社交媒體與加密創新相結合。然而，儘管有潛在的上升空間，Makenow.meme仍在努力實現產品市場契合度（PMF）。該平台的採用不是最佳的，導致啟動後用戶活動迅速下降。雖然這個概念是新穎的，但缺乏推動主流採用的執行和激勵措施。

Pump.fun competitor resurgence

Pump.Fun競爭對手復興

Pump.fun’s dominance didn’t last long. A pivotal moment came when Pump.fun decided to migrate its “graduated” tokens (tokens that reached a certain market cap threshold) from Raydium to its own Pumpswap decentralized exchange (DEX). The move sparked a wave of competition, and Raydium responded by launching its own token launchpad, LaunchLab. Additionally, Believe launched a Makenow.meme-like product that allows users to issue tokens on X, while Bonk also launched its own launchpad, based on Raydium’s LaunchLab technology stack. More recently, Boop entered the market under the leadership of Dingaling (founder of Pancakeswap, LooksRare, etc.).

pump.fun的主導地位並沒有持續很長時間。當Pump.Fun決定遷移其“畢業”令牌（達到一定的市值閾值）從Raydium到其自己的Pumpswap分數分散交易所（DEX）時，一個關鍵時刻是一個關鍵時刻。此舉引發了一波競爭，Raydium的回應是推出了自己的代幣發射台LaunchLab。此外，相信啟動了Makenow.meme式產品，該產品允許用戶在X上發行令牌，而Bonk還基於Raydium的LaunchLab Technology Stack推出了自己的Launchpad。最近，Boop在Dingaling的領導下進入市場（Pancakeswap，Lookrare等）。

Boop, the most promising rookie

Boop，最有前途的新秀

Boop stands out for its innovative approach and "fun" Ponzi economics. Boop introduces a fee-sharing mechanism, a feature that solves a major problem of Pump.fun: the lack of incentives for token creators and early adopters. Boop also uses an active user onboarding strategy to attract users. It is worth mentioning that some core users of Solana DeFi received $BOOP airdrops, but there was a condition. They had to issue tokens, conduct marketing, and mobilize others to buy the tokens in order to claim the airdropped tokens. In addition, Boop provides fee sharing, airdrops, and other incentives for token deployers, $BOOP holders, and holders of recently “graduated” tokens. Still in its early stages, Boop's dynamic incentive structure and

Boop以其創新的方法和“娛樂”龐氏騙子而脫穎而出。 Boop介紹了一種收費機制，該機制解決了一個主要問題。 Boop還使用活躍的用戶入職策略來吸引用戶。值得一提的是，Solana Defi的一些核心用戶收到了$ boop airdrops，但有條件。他們不得不發行代幣，進行營銷，並動員其他人購買代幣，以要求聲稱空調的令牌。此外，BOOP為代幣部署者，$ boop持有者以及最近“畢業”代幣的持有人提供了費用共享，空投和其他激勵措施。仍處於早期階段，Boop的動態激勵結構和