The BONK ecosystem has overtaken Pump.fun to become the most used meme coin launchpad on the Solana blockchain. On July 24, LetsBONK, the BONK-powered platform, accounted for 67.3% of all meme coin launches, while Pump.fun’s share dropped to 20.5%, according to Dune Analytics. Just two months earlier, in mid-May, Pump.fun held over 60% of the market, and BONK had very little activity by comparison.
This change shows that a large number of token creators are now using the BONK platform. On the same day, LetsBONK deployed 22,233 tokens, while Pump.fun deployed 6,779. BONK’s launchpad has quickly become the most used platform for deploying new meme tokens on Solana.
The number of meme coin launches on LetsBONK has grown steadily through July. On July 1, the platform had around 350,000 total launches. By July 24, the count rose to 563,761. This growth has also increased platform revenue.
On the same day, the platform generated more than 217,000 SOL in total fees. According to Dune Analytics, BONK-related launchpad fees were worth $1.3 million, compared to $267,869 on Pump.fun. More users are choosing BONK for new token launches, which has led to higher platform usage and more daily fees.
500 Billion Tokens Burned in a Day
Half of BONK’s daily platform revenue is used to burn tokens. On July 24, 108,528 SOL went toward buying BONK on the open market and sending it to a burn address. This removed 500 billion BONK from circulation in a single day.
The burn system is tied directly to launchpad usage. As platform revenue increases, the number of burned tokens rises. BONK has a fixed supply of 88.3 trillion, and the burn of 500 billion in one day represents more than 0.5% of the total. Over time, this mechanism reduces circulating supply and increases scarcity. This burn system has driven the token’s recent success.
The platform’s fees are distributed across eight categories. After token burns, the next largest share—15%—goes to BONKsol staking, which supports liquidity and validator rewards by pairing BONK with SOL into a staking asset called BONKsol.
Another 7.67% each is allocated for hiring, technical development, and the SGP reserve, while 4% goes to the Solana Builder Reserve (SBR). The SBR helps fund developers who build tools, tokens, or platforms using the BONK launchpad. Additional funds support user rewards, platform operations, and marketing.
This model allows BONK to support both token value and ecosystem growth using daily revenue.
BONK Jumps 147% in July, Burn Drives Demand
BONK’s price increased from $0.00001415 on June 26 to $0.00003486 on July 25, a 147% gain in less than a month. The current market cap is $2.8 billion, with 80.5 trillion tokens in circulation. However, daily trading volume has fallen by 15.7%, now at $1.33 billion. This decline may show that some traders are taking profits after the recent price increase.
Even with the lower volume, BONK’s volume-to-market cap ratio remains near 48%, which means trading activity is still strong compared to its size. The rise in price happened at the same time as launch activity and token burns increased, which helped create more demand for the token.
The BONK platform now handles over 20,000 token launches per day, based on recent activity.
