Stonk Flips Pump in Launchpad Revenue, Sets Next Target at Robinhood’s Pons

Since it first launched in January 2024, pump.fun has dominated Solana’s launchpad race, commanding the lion’s share of volume and revenue and shrugging off all challengers.

But just when it looked like pump.fun was destined to wear the crown forever, a new challenger has briefly usurped its reign of power. For three consecutive days, Stonk has surpassed pump.fun in launchpad revenue, drawing ever-closer to Pons, the market leader on Robinhood Chain.

Meanwhile, Stonk has revitalized Solana DeFi, sparking a resurgence in tokenized equity volume and restoring the network to its position atop crypto’s DEX rankings by spot activity.

But where Stonk has boasted a monopoly over diverse asset pairings, the launchpads competitors are moving in on the meta. Can Stonk retain its hard-fought lead?

Stonk Reports $1.3M in Revenue, Eclipsing Pump’s Launchpad

Stonk, a memecoin launchpad enabling diverse asset pairings like tokenized equities and crypto majors, has won over the hearts of Solana DeFi users. Incubating two 9-figure runners in $ZCAT and $STONK, Stonk has reinvigorated Solana’s memecoin economy, pulling capital flows and liquidity back from rival networks like Robinhood and BNB.

But beyond gracing Solana’s DeFi traders with an abundant bouquet of green candles, network participants are celebrating the launchpad’s newfound dominance over rivals like pump.fun. Over the past three consecutive days, Stonk’s internal data suggests the platform has eclipsed pump.fun’s daily launchpad revenue.

Having taken the lead in Solana’s launchpad race, Stonk is now just a whisker away from overtaking Pons. A key driving force behind Robinhood Chain’s blistering memecoin run, Pons has generated over $25.8M in revenue since launch, burning over 30% of $PONS supply.

Stonk now finds itself on a similar trajectory. While still short of Pons’ daily revenue ($1.49M in yesterday’s session), Stonk has burnt around 13% of its circulating supply. Blockworks Analyst Sam Schubert forecasts that the launchpad is on track to buyback almost twice its market cap in the next year alone.

Meanwhile, the Solana community is relishing the prospect of another launchpad ending pump.fun’s reign of power. Having commanded unyielding dominance of Solana’s memecoin trenches since its launch, network participants blame pump.fun for many of the perceived flaws of onchain culture.

Tokenized Equity Volume Up 3x Since Last Week

While Solana’s memecoin economy is the obvious benefactor of the newfound attention and capital brought forth by Stonk’s success, liquidity is also flowing through the network’s RWA market.

Since Stonk activity broke out, Solana’s tokenized equity markets have enjoyed a powerful resurgence in volume. 

While no doubt driven purely by demand for meme/stock token pairings, Blockworks Data suggests tokenized equity volumes have tripled since last week’s daily sessions, rising from around $50M a day to over $154M.

With newfound volume flowing through tokenized equities, issuers are racing to thicken onchain liquidity and asset variety. Sunrise DeFi, an asset gateway powered by Wormhole, has accelerated its listings in recent weeks. Sunrise recently crossed over $10B in cumulative trading volume across all listings, contributing steadily to Solana’s growing supply of tokenized equities, which just recorded a new all-time high of $535M.

Meteora Joins Race as Market Waits on Pump Multi-Pairing

Inspired by Stonk’s breakout success, rival launchpads are racing to enable diverse token pairings to compete for volume. Meteora’s whitelabel bonding curve product, DBC, has just launched multi-pairing, bringing the same functionality behind Stonk’s success to all its integrators.

Meanwhile, all eyes are now turned to pump.fun. Solana’s OG launchpad is expected to enable multi-pairing later this week, potentially restarting the launchpad wars of 2025. Despite claims that pump’s foray into the new meta will kill off activity on Stonk, markets seem so far undaunted.

While pump’s incoming multi-pairing functionality has done little to dampen the market’s valuation of $STONK, which currently trades at all-time highs.

Read More on SolanaFloor

Bulk Makes Waves on Day One

Bulk Trade Outpaces Hyperliquid, Lighter in First Day Volume as Mainnet Beta Goes Live

Jacquelyn Melinek Joins The Big Picture