比较Solana上的令牌启动平台

令牌发射台已成为加密生态系统中的既定空间，为筹集资金和启动流动性的项目提供了结构化的途径。

Author: samoyedscribes

作者：Samoyedscribes

Compiled by: TechFlow

编译者：TechFlow

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

由TechFlow翻译（@SamoyEdCibres和Signum Capital的原始图像）翻译的Solana的令牌启动平台的比较

A Brief History of Token Launch Platforms

令牌启动平台的简短历史

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.

令牌发射台已成为加密生态系统中的既定空间，为筹集资金和启动流动性的项目提供了结构化的途径。在泵的气象升起之前，该空间由更适合初始分散交换产品（IDO）的协议主导。诸如Coinlist，Pinksale Finance和Fjord Foundry之类的协议是在以太坊和Binance Smart Chain（BSC）等连锁店启动的项目的首选。这些发射台通常与专门的建筑商一起服务已建立的协议，它们以更具选择性的方式运作，投资者需要白名单才能参加特定的筹款活动。这些进入障碍使它们无法使用较小的协议和较少正式的项目，例如模因硬币或实验令牌。

Why is Pump.fun so influential?

为什么Pump.Fun如此有影响力？

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introduced a standardized mechanism to burn liquidity pool (LP) tokens at launch, ensuring that liquidity cannot be withdrawn—a feature that provides additional trust for retail participants, although the platform has not been entirely immune to manipulation by certain insiders.

泵的出现被某些人归功于索拉纳时代，这对于将链条推向其主导地位至关重要。在Solana上发布时，Pump.Fun利用区块链的低成本和高速交易来彻底改变令牌发行。与其前身不同，Pump.Fun引入了一种标准化的机制来燃烧流动性池（LP）令牌，以确保无法撤回流动性，该功能为零售参与者提供了额外的信任，尽管该平台并非完全可以由某些内部人员进行操作。

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由于其分散的方法而具有真正的影响力，从较小的协议到较少的正式项目，都可以公平地进行资本筹集和流动性产生。迄今为止，已在pump.fun上启动了超过1000万个令牌。这种可及性极大地促进了索拉纳（Solana Memecoin）的热潮，导致索拉纳（Solana）被认为是主要的“链赌场”。其他连锁店试图声称这个头衔，但没有一个成功的范围。 Pump.Fun的模型是同类的第一个模型，它使新的代币发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，从长远来看，这是加密空间的净正还是负面？从好的方面来说，泵送。FUN降低了进入障碍，鼓励索拉纳生态系统内的更大创造力和实验。但是，从不足的一面来看，它还为低质量项目和大规模的流动性提取事件打开了闸门，有些人认为这可能不利于生态系统的长期健康。只有时间才能说明，因为市场在适当的时候会自我纠正。

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。从理论上讲，这看起来像是在群众中的有前途的分散申请，将社交媒体与加密创新相结合。然而，尽管有潜在的上升空间，Makenow.meme仍在努力实现产品市场契合度（PMF）。该平台的采用不是最佳的，导致启动后用户活动迅速下降。虽然这个概念是新颖的，但缺乏推动主流采用的执行和激励措施。

Pump.fun competitor resurgence

Pump.Fun竞争对手复兴

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的主导地位并没有持续很长时间。当Pump.Fun决定迁移其“毕业”令牌（达到一定的市值阈值）从Raydium到其自己的Pumpswap分数分散交易所（DEX）时，一个关键时刻是一个关键时刻。此举引发了一波竞争，Raydium的回应是推出了自己的代币发射台LaunchLab。此外，相信启动了Makenow.meme式产品，该产品允许用户在X上发行令牌，而Bonk还基于Raydium的LaunchLab Technology Stack推出了自己的Launchpad。最近，Boop在Dingaling的领导下进入市场（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以其创新的方法和“娱乐”庞氏骗子而脱颖而出。 Boop介绍了一种收费机制，该机制解决了一个主要问题。 Boop还使用活跃的用户入职策略来吸引用户。值得一提的是，Solana Defi的一些核心用户收到了$ boop airdrops，但有条件。他们不得不发行代币，进行营销，并动员其他人购买代币，以要求声称空调的令牌。此外，BOOP为代币部署者，$ boop持有者以及最近“毕业”代币的持有人提供了费用共享，空投和其他激励措施。仍处于早期阶段，Boop的动态激励结构和