The Hidden Winners Behind the Solana Ecosystem Coin Issuance War

Recently, the competition among token issuance platforms within the Solana ecosystem has attracted widespread attention. Behind this lively competition, some low-key participants have quietly become the real beneficiaries. This article will delve into platforms like Metaplex, Raydium, and Axiom, revealing how they steadily profit in this battle.

Raydium: SDK Strategy to Assist Market Expansion

Raydium quickly responds to market changes by launching its own token issuance platform, LaunchLab, and has introduced multiple similar platforms through SDK collaboration strategies. This move significantly enhances Raydium's competitiveness in the Solana launch platform market.

According to the data, as of July 9, nearly 58.3% of the tokens created on the Solana Launchpad came from the LaunchLab SDK. Among them, LetsBONK stood out particularly, accounting for 97.5% of the tokens created by the LaunchLab SDK, and the token graduation rate was close to 98.3%.

In terms of trading volume, LaunchLab SDK accounts for 65.2% of the total trading volume of the Solana Launchpad, with 99.7% coming from LetsBONK. In terms of revenue, LaunchLab SDK contributed 72% of the total revenue of the Solana Launchpad, with LetsBONK accounting for 79.8% of that.

It is worth noting that Raydium LaunchLab will use 25% of the transaction fees to buy back RAY tokens, a strategy that is expected to further enhance the value of RAY.

Metaplex: The Biggest Beneficiary of the Coin Issuance Boom

As a core open-source protocol within the Solana ecosystem, Metaplex provides developers, creators, and businesses with comprehensive tools and standards for building decentralized applications. In this wave of issuing coins, Metaplex has become one of the biggest beneficiaries.

According to official disclosures, the main source of income for Metaplex in the first half of this year was new assets created through its protocol. Several well-known platforms have used the Metaplex standard to create tokens, including Pump.Fun, Believe, Raydium, LetsBONK, and others.

According to the data, as of July 10, Metaplex's cumulative revenue reached $35.82 million, earning approximately $13.57 million in just the first half of this year. In June alone, the number of tokens created through Metaplex exceeded 1 million, generating about $1.7 million in revenue for the protocol.

Metaplex charges a certain percentage of protocol fees from all newly created tokens and NFTs, with 50% used to buy back $MPLX and inject into the Metaplex DAO. In the first half of this year, Metaplex has repurchased a total of 38.5 million $MPLX tokens, accounting for 3.9% of the total supply.

Axiom: The Rise of Trading Bots

As the competitive landscape of launch platforms continues to evolve, trading robots represented by Axiom are gradually becoming the invisible winners in the market. These efficient user gateways not only optimize the trading experience but also become key in the battle for traffic and users among various launch platforms.

Data shows that Axiom has maintained a leading position in the trading automation and Bot tools platform for a long time. On July 9, Axiom contributed over 69.6% of the total trading volume of trading robots, demonstrating strong market penetration.

Axiom has established deep cooperation with multiple launch platforms, becoming an important traffic entry point. On July 9, Axiom's trading volume on platforms such as Pump.fun, LetsBONK, and Believe reached 63.6%, 74.5%, and 67.3%, respectively, greatly enhancing the trading activity of various launch platforms.

In the Solana blockchain trading robot market, Axiom also stands out. As of July 7, Axiom's trading volume accounted for 72% of the total, with an average transaction amount of about $2293, far exceeding its competitors. On that day, the number of active users exceeded 17,000, and its market share reached 49.1%.

Since its launch in January of this year, Axiom's cumulative revenue has exceeded $160 million, with an average daily revenue of approximately $1.7 million. The number of active users is close to 287,000, fully reflecting the market recognition and growth potential of its products.

Overall, in the coin issuance battle of the Solana ecosystem, platforms like Metaplex, Raydium, and Axiom have gained significant benefits at different stages due to their respective advantages, becoming the invisible winners of this competition.