BitMart Research, the research arm of BitMart Exchange, has released a comprehensive analysis spotlighting 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 examines Believe’s algorithmic, social-influence–driven token generation on X, and LetsBonk.fun’s seamless in-app token deployment rooted in the Solana ecosystem. With explosive user growth, increasing market capitalizations, and novel monetization models, both platforms are challenging incumbents like Pumpfun and setting new standards for community-led, creator-first Web3 ecosystems.
1.Believe
Introduction to Believe
Believe is a MEME token issuance platform founded by Ben Pasternak. Formerly known as Clout.me—with a “celebrity token” model—the project rebranded to focus squarely on “social assetization.” Its core mechanism allows any user to tweet on X in the format $TICKER+NAME and mention @launchcoin. The system then uses an algorithm to assess the user’s social influence and, if criteria are met, automatically triggers a smart-contract–based token deployment. Approved tokens first enter a bonding-curve issuance phase and receive a $10,000 seed fund from the platform to support the founding team. Once a token’s market capitalization surpasses $100,000, it moves into a liquidity-enhancement phase by migrating to the Meteora protocol for deep market-making support.
According to the official economic model, the platform applies a 2% transaction fee: 1% is awarded to the token creator as an incentive, 0.1% goes to community evangelists, and the remaining 0.9% funds platform maintenance. This tiered revenue structure both safeguards creators’ core interests and fuels community-driven early promotion, while providing the financial foundation for sustainable platform growth.
Popular Projects on Believe
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LaunchCoin
As the flagship token of the Believe ecosystem, LaunchCoin 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.
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Dupe
Dupe is the ecosystem token for the furniture-affordable–search engine Dupe.com. The platform’s official Instagram boasts 367,000 followers, and its monthly active user base exceeds 1 million. Dupe’s market cap peaked at $70 million and currently hovers around $34 million.
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Goonc
Issued by Pata van Goon—an engineer from the OpenAI tech team—GOONC quickly went viral thanks to its technical-elite endorsement. The token’s market cap once surged to $70 million and now steadies in the $45.5 million range.
2. LetsBonk.fun
Introduction to LetsBonk.fun
LetsBonk.fun is a meme token issuance platform co-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. Its popularity has recently exploded thanks to meme projects like Hosico, Useless, and IKUN. Token issuance is as simple as clicking “Create Token” within the app, though a minimum 2 SOL of liquidity must be provided before the token can be listed for trading on Raydium.
LetsBonk.fun Revenue Model
Every trade on the platform incurs a 1% fee, which is allocated to the development fund, BONKsol validators, and BONK buy-and-burn. Specifically:
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35% of revenue is used to buy back and burn BONK, implementing a deflationary mechanism
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30% is used to purchase and stake BONKsol to secure and provide liquidity for the network
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19.2% is directed to an ecosystem development fund
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7.6% goes into strategic reserves
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7.6% is allocated for technical development and operations (split equally among hiring, growth & development, and integrations)
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12% is dedicated to user incentives and marketing, broken down into 4% BonkRewards, 4% marketing, and 4% community-governance support (SBR)
Between April 29 and May 15, daily revenue surged from roughly 2,000 SOL to 24,000 SOL—a more than 12× increase—while token issuance spiked to nearly 50,000 tokens on May 15 (a 233% rise over average).
Popular Projects on LetsBonk.fun
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Hosico
Inspired by the Instagram-famous cat with 1.8 million followers and rendered in a Ghibli-style AI aesthetic, Hosico’s 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.
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USELESS
Born from a tweet by BONKGUY on X—“This is a useless currency; it shouldn’t be pumped”—USELESS rode its nihilistic, emotionally charged narrative to rapid fame. Since launch on BONK, its market cap soared to $34 million and now stabilizes at approximately $24 million.
3. Competitive Analysis: Believe, LetsBonk.fun, Pumpfun, and Others
Believe’s distinct advantage lies in its X-based token issuance mechanism: projects cannot pre-sell tokens before launch and must rely on secondary-market trading or social-tag purchases. It charges no listing fee, but requires a relatively high entry barrier of roughly 85 SOL, which may slow initial liquidity. In contrast, LetsBonk.fun supports dual issuance both on its own platform and via X, and is tightly integrated with the BONK token; it even returns 10% of fees to liquidity providers upon exit to incentivize deployment.
Overall, neither model represents a revolutionary departure from existing MEME-token platforms; they primarily optimize issuance methods and add ancillary features. Although both have recently captured some of Pumpfun’s daily issuance volume, they still lag significantly behind Pumpfun’s overall scale.
Daily new MEME issuance
4. Future Outlook
The MEME-token space is currently crowded with largely homogeneous issuance platforms. While platforms like Believe and LetsBonk.fun may siphon off some of Pumpfun’s short-term hype, long-term sustainability—once speculative capital recedes—will be the market’s true test. To date, Believe has greatly simplified the MEME-token launch process via X, and LetsBonk.fun has created strong ecosystem synergy through deep BONK integration. As market enthusiasm cools and new competitors emerge, their ability to maintain momentum will hinge on whether they can introduce fresh innovations or incubate genuinely “wealth-creating” MEME assets.
Read the full research article here:
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