History has shown that creating a non-Pumpfun launchpad on Solana brings attention to it in the first few days, but fades over time. When Raydium announced it was gonna create a launchpad, I believed it was Pumpfun's most significant challenge to date due to Raydium's distribution. What I didn't know was that @bonk_fun was creating a launchpad on top of it. This combination of @RaydiumProtocol's distribution and @bonk_fun's community has resulted in Bonkfun accounting for 60% and Raydium for 15% of the total launchpad revenue on Solana.