Making sense of ‘launchpad wars’ data

2025-08-07 22:04:52

Main Idea

The article discusses the competition between memecoin launchpads, particularly pump.fun and Letsbonk, highlighting recent data on token launches and graduations, and questioning the significance of these metrics.

Key Points

1. Pump.fun has recently seen a comeback with 23.9k tokens launched compared to Letsbonk's 3,954, and 151 tokens graduated from Pump.fun versus 64 and 51 from Jup Studio and Letsbonk, respectively.

2. The relevance of these metrics depends on the stakeholder; for PUMP investors, the numbers may be meaningless as they are short-term and backward-looking.

3. Sebastian L., founder of Mesa, suggests that higher graduation rates might indicate a better launchpad for token placement, though it's not a strong moat.

4. Felipe Montealegre refers to Pump's temporary advantage as 'Schelling Point fairy dust,' indicating that fortunes can shift quickly between launchpads.