New Memecoin Launchpads Emerge to Compete with Pump.fun
New memecoin launchpads are positioning themselves as safer alternatives to Pump.fun. ProofPad.app announced a March 2nd launch with features like 2-hour developer sell-locks and burned liquidity. Meanwhile, the based.bid launchpad highlighted early gains on its first token, emphasizing a no-insider-dump policy, indicating growing competition in the memecoin launch infrastructure space.
Pump.fun has become a dominant force in the memecoin space, generating over $800 million in lifetime revenue since its January 2024 debut. The platform charges a 1% fee on all trades and collects additional SOL when tokens "graduate" to major decentralized exchanges like Raydium. This model has proven incredibly lucrative, at times positioning Pump.fun as the third-highest revenue-generating protocol, behind only Tether and Circle. The platform's explosive growth, however, has been matched by significant controversy. It faces a class-action lawsuit alleging it sold unregistered securities and has been accused of enabling pump-and-dump schemes. Leaked internal messages have fueled allegations of a "insider-rigged casino," while on-chain data suggests profits are concentrated among a small number of users. Security has also been a major concern. A former employee exploited the platform for $1.9 million in SOL, and the company's official X account was hacked to promote fake tokens, leading to an estimated $600,000 in user losses. These incidents, combined with a lack of KYC requirements, have led to accusations that the platform is a hub for scams. In response to both competition and criticism, Pump.fun has evolved its model. In May 2025, it introduced a revenue-sharing plan, giving 50% of its swap fees back to token creators to discourage "rug pulls." More recently, "Project Ascend" implemented a dynamic fee structure that decreases as a token's market cap grows, further incentivizing long-term project development. The intense scrutiny and high revenues of Pump.fun have paved the way for competitors. Platforms like Moonshot have emerged as mobile-first alternatives with a cleaner user interface, aiming for a higher signal-to-noise ratio for traders. This new wave of launchpads is attempting to capture market share by addressing the security and fairness concerns that have plagued the early memecoin launch environment.
