Amid Solana's meme coin frenzy, platforms like Pump.fun dominate headlines with controversial token launches. But the real winners are Metaplex, Raydium and Axiom—they avoid price speculation and profit steadily through infrastructure and traffic control. Here's their winning playbook:
After Pump.fun launched its own DEX PumpSwap, Raydium counterattacked with LaunchLab SDK, partnering with platforms like LetsBONK.fun and cook.meme to create a token launch matrix.
Key Metrics:
Tokens Launched (July 9): 32,000 tokens created on Solana Launchpad, with 58.3% from LaunchLab SDK—LetsBONK alone generated 18,000 (97.5% of SDK volume).
Trading Volume: $190M daily on Solana Launchpad; LaunchLab SDK captured 65.2% ($97.2M), 99.7% from LetsBONK.
Revenue: SDK contributed 72% of platform fees ($1.375M), with LetsBONK accounting for 79.8%.
Winning Formula:
Avoids token bets, earning steadily via fee capture (25% used to buy back RAY tokens).
SDK ecosystem lock-in creates a "launch-trade-profit" loop for third-party platforms.
As Solana's core standard for NFTs/tokens, Metaplex monopolizes meme coin creation—used by Pump.fun, Raydium, LetsBONK, and others.
Key Metrics:
H1 Revenue: $13.57M, including $1.7M in June (from 1M+ tokens created).
Token Buybacks: 50% of fees used to repurchase $MPLX—38.5M tokens burned in H1 (3.9% of supply).
Binance Alpha Listing: Boosted $MPLX liquidity.
Winning Formula:
Protocol-level monopoly: Nearly all Solana token launches pay Metaplex fees (like "blockchain AWS").
Deflationary model: Continuous buybacks enhance token value.
Axiom doesn’t launch tokens—it operates as automated trading infrastructure, becoming Solana’s meme coin "highway."
Key Metrics:
Market Share: 69.6% of Solana bot trading volume ($92.28M on July 9).
Platform Penetration: 63.6% on Pump.fun, 74.5% on LetsBONK, 67.3% on Believe.
Total Revenue: $160M in 4 months ($1.7M daily).
Winning Formula:
High-frequency fee capture: Profits from snipe/mirror trading tools.
Traffic monopoly: Default gateway for launchpad trading (like a "crypto prime broker").
Project | Core Advantage | Revenue Model | Key Metric |
|---|---|---|---|
Raydium | LaunchLab SDK ecosystem | Fee share + buybacks | 65.2% daily trade volume |
Metaplex | Protocol monopoly | Mint fees + deflation | $1.7M June revenue |
Axiom | Bot traffic control | HFT fees | $160M total revenue |
In Solana’s token launch wars, the real winners aren’t gamblers—they’re the ones selling the shovels.
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