A New Leader Emerges
The fast-moving world of Solana memecoins just crowned a new revenue champion. BonkFun—an offshoot of the BONK community and Raydium DEX—has edged past long-time frontrunner Pump.fun to become the highest-earning launchpad on the network for the most recent 30-day period. According to on-chain analytics, BonkFun booked roughly $23 million in protocol revenue in July, nudging out Pump.fun’s ~$22 million and ending the latter’s ten-month streak at the top.
Breaking Down the Numbers
| Metric (last 30 days) | BonkFun | Pump.fun |
|---|---|---|
| Platform revenue¹ | ~$22.99 m | ~$23.30 m |
| Revenue paid to holders¹ | $22.22 m | $22.08 m |
| Daily trading volume² | $100 m (avg.) | <$18 m |
| Daily token launches² | 18k-22k | 9k-10k |
<small>¹DeFiLlama data, pulled 1 Aug 2025
²Platform dashboards & aggregated Dune queries, late July 2025</small>
While Pump.fun still edges BonkFun in gross protocol revenue by a sliver, the newcomer now leads on the metric that matters most to creators and investors—revenue distributed back to holders. Analysts view that crossover as the clearest sign yet that liquidity, builders and bots are migrating to BonkFun.
What’s Driving the Shift?
- Aggressive Buy-and-Burn Tokenomics
Half of BonkFun fees automatically buy and burn BONK, producing constant buy-pressure and a clear value loop for users. Pump.fun, by contrast, has yet to integrate a comparable flywheel. - Raydium Liquidity Integration
BonkFun launches can pipe trading pairs directly into Raydium pools, giving new tokens instant depth and arbitrage opportunities—an advantage Pump.fun can’t currently match. - Bot-Friendly Architecture
High-frequency token-launch bots flocked to BonkFun in July. Data from wallet-tracing dashboards shows top addresses minting a new token every three minutes, accelerating fee generation. - Community Sentiment
Pump.fun’s mid-July ICO raised $600 million but drew criticism over unlock schedules and a perceived lack of utility for the PUMP token. In contrast, BONK’s transparent burns and grants program boosted trust.
Ripple Effects Across the Solana Ecosystem
- BONK Price Action – With ~50 % of platform fees funneled to buybacks, BONK rallied 120 % in July and briefly entered the top-60 crypto assets by market cap.
- Raydium Revenues – The DEX saw its highest fee month since March as BonkFun launches fed fresh trading pairs into liquidity pools.
- Developer Migration – Several indie launch teams report switching to BonkFun for faster graduations and higher initial liquidity, hinting at a longer-term realignment.
Can Pump.fun Strike Back?
Pump.fun still boasts deeper total liquidity ($194 m TVL) and a larger trader base, giving it runway to iterate. Insiders point to an upcoming “PumpSwap v2” upgrade that will pair new-token launches with built-in liquidity mining incentives. Whether that is enough to regain the crown will hinge on two factors:
- Revenue Sharing: Creators increasingly expect a cut of platform fees.
- UX & Speed: BonkFun’s onboarding time is now <60 seconds from idea to tradable token.
Outlook
If July’s trend holds, BonkFun’s annualized run-rate could top $280 million, putting it on par with some mid-tier layer-1 blockchains. For traders chasing the next meme wave and builders eyeing Solana’s throughput, the message is clear: BonkFun is currently the place to be. Pump.fun remains formidable, but the era of one-platform dominance is over—competition, and innovation, are back on the menu.
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