What is StonkFun? How it works, and how it compares to pump.fun

What is StonkFun? In short, as of 2 October 2026: a Solana launchpad where you can launch a coin paired with almost any token, not just SOL. That means tokenized stocks like SPYx, other memecoins, or majors. It has 556 tokens you can pair against. Most of its coins are "reward coins": every transfer pays a 1% or 3% tax, which is paid out to the coin's holders. About 60% of StonkFun's own revenue buys its token, STONK, and burns it. This page is kept up to date; the date above says when it was last checked.

How a launch works. A StonkFun coin starts on a bonding curve built on Raydium's LaunchLab: the price rises as people buy. When the coin's market cap reaches the graduation level (StonkFun's settings currently say $40,000, and it varies by pair), it moves to a Raydium pool. Each coin is paired with the token its creator chose. A coin paired with $NFLX trades against NFLX, not SOL.

Reward coins and the tax. Since its third version, a reward coin carries a transfer tax set at launch, 1% or 3%, taken on every transfer. StonkFun's wallet collects it, sells it for the pair token, and pays holders. Reward coins pay the creator nothing; StonkFun's docs say the tax replaces creator fees. Standard (non-reward) coins instead pay a pool fee, 1% by default or 2%. The creator gets about half of the 1% and about three-quarters of the 2%.

Where the money goes. StonkFun says about 60% of its platform revenue buys STONK on the market and burns it. Its own figures back that up: $18.4 million bought back out of $30.7 million in revenue, as of 2 October. We've found one exception worth knowing: some of the reward tax collected for holders went to StonkFun's team wallets, which we reported in September.

What StonkFun brought before pump.fun did. Three things set it apart. A launch can pair with almost any token: a tokenized stock, gold, another memecoin. Holders of reward coins are paid in that pair token. And coins can be built on other coins: $GP was paired with tokenized gold, $CRACKER with $GP, and the party hats with $CRACKER, a $28 million stack that rose and fell in September (party hat mania). pump.fun added custom pairs and holder rewards within days, according to Blockworks.

How it compares to pump.fun (table below). pump.fun is far bigger: about $3.6 billion in volume over the last week, against StonkFun's $167 million. It now also lets coins pair with other tokens; pump.fun's docs list 155. On pump.fun's bonding curve, every trade pays 1.25%, of which 0.30% goes to the creator. According to Blockworks, pump.fun added custom pairs on 9 September and holder rewards on 12 September, days after StonkFun moved its launches to Raydium's LaunchLab on 6 September. We haven't found a pump.fun page setting out how its holder rewards are paid.

What to watch. New pairs: on most new StonkFun pairs, a fleet of about 20 wallets launches and sells coins before StonkFun announces the pair (our report). The launchpad war between StonkFun and pump.fun. Its X account, @LaunchOnSF, was suspended on the afternoon of 27 September (US time) and back online that night.

How to check a StonkFun coin yourself. The coin's page on StonkFun shows its pair and whether it's a reward coin. Then check: the tax rate (1% or 3% on every transfer, including your own sells); how much liquidity the pair pool has, because a coin paired with a thin token can be hard to sell; and who created it. Our pages on STONK, GP, CRACKER and DUMP show what that looks like.