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bonk.fun (LetsBonk): how launches work and how to trade

bonk.fun, once letsbonk.fun, launches tokens on Raydium LaunchLab's curve and graduates them to a Raydium pool. How its launches show and trade in clusterz.

Different dog, same trenches. The curve is Raydium's, the crowd is bonk's, and the pill on the logo tells you which one you are looking at.

The Trenches board on one page: pump.fun new pairs, live.

What is bonk.fun (LetsBonk)?

bonk.fun is a Solana memecoin launchpad. It started as letsbonk.fun, and its platform account on Raydium LaunchLab still carries that name on chain, so you will see both names around. Search "letsbonk fun" and you land on the same thing.

bonk.fun does not run a curve program of its own. Every bonk.fun token is a Raydium LaunchLab launch made through bonk.fun's own platform settings.

LaunchLab is one program with many platforms on it, and bonk.fun is one of them. That is the main thing to know: the maths and the pool at the end are Raydium's, the front end and the launch settings are bonk.fun's.

How a bonk.fun launch moves from curve to pool

A bonk.fun token is born on a LaunchLab bonding curve. The program holds the tokens for sale and prices every buy and sell from a formula.

Buy and the price climbs. Sell and it slides back down. See what is a bonding curve for the general idea.

  1. On the curve. Each launch carries its own sale amount and its own raise target. Curve progress is the share of the curve's tokens sold so far.
  2. Graduation. The curve is done when its sale amount is sold and the raise is met. No more curve trades.
  3. Migration. The raised funds and the remaining tokens seed a Raydium pool, and trading restarts there. Raydium's docs name its CPMM pool for this step today. A plain CPMM graduate typically trades at the 0.25% fee tier, per Raydium's docs.

Since every launch can set its own sale and target, there is no single bonk.fun graduation market cap worth quoting. Anyone who gives you one dollar figure is quoting one launch, or an old SOL price.

bonk fun new pairs in clusterz

bonk.fun new pairs in clusterz Trenches: New, Soon and Graduated columns. Trenches: bonk.fun launches share the columns with every other launchpad.

bonk.fun launches land in Trenches, under Discover, in the same three columns as everything else:

  • New: under 50% of the curve, or progress not known yet.
  • Soon: 50% of the curve and up.
  • Graduated: trading in its Raydium pool.

A bonk.fun card wears the Bonk pill on the corner of its logo. We know it is bonk.fun from the platform account the launch was made through.

A LaunchLab launch from any other platform wears the Raydium pill instead and answers to the LaunchLab chip, not Bonk.

To see bonk.fun and nothing else, open this link: bonk.fun launches only. It turns off Pumpfun, LaunchLab, Meteora, Bags, Moonshot and Jup Studio in all three columns and leaves Bonk on.

Opening it saves nothing. Press Save on a column to keep it. More in Trenches filters.

A curve that trades against a token other than SOL carries a small chip on the logo's bottom left that names it, and its market cap is worked out from that token's price in SOL. The Quote row in the column's filters cuts by it.

bonk fun vs pump fun

People compare the two all the time. What actually differs, for a trader in clusterz:

bonk.fun pump.fun
Curve program Raydium LaunchLab pump.fun's own
Graduates to A Raydium pool PumpSwap
Sale size and target Set per launch Fixed on a standard curve
Pill in Trenches Bonk Green pump pill, red for Mayhem
Mayhem mode No Yes
Copy Trade and snipes in clusterz No Yes

The pump.fun numbers, 793.1 million curve tokens and about 411 SOL at graduation, are in what is a bonding curve. None of them carry over to bonk.fun.

Before you buy a bonk.fun launch

Same checks as any launch. The pill tells you where it was born, not who is holding it.

  • Holder checks. Top 10, dev, snipers, insiders, bundle, fresh wallets, reused logo and links. Hover or tap each pill. See holder checks.
  • The dev. Did the dev sell (DS), how much do they hold, who funded them. See the dev wallet check.
  • Who loaded early. A launch bundle and insiders linked by funding are the usual exit. See bundles and insiders.
  • Progress is tokens, not money. On LaunchLab, the percent on the ring counts curve tokens sold. A few wallets can move it.
  • Migrating. A finished curve reads Migrating at the top of Soon and its Buy waits until the Raydium pool trades, 20 seconds at most. See Migrating.

What these cannot catch: side wallets nobody has linked, a dev who moves tokens before selling, and a holder who sells after you look.

What clusterz cannot do on bonk.fun

  • No copies. A copy of a trader follows buys on pump.fun and PumpSwap only. A tracked trader's bonk.fun buy is skipped. See Copy Trade limits.
  • No snipes. Fast, together and dev copies read pump.fun and PumpSwap trades only, and Copy a dev lists pump.fun devs.
  • No Mayhem switch to worry about. Hide Mayhem tokens does nothing here, because Mayhem is pump.fun's alone.

What does work: you can buy and sell a bonk.fun token from its card or its token page, in Practice or Live.

A Practice fill on the curve is priced from the same curve read as a Live trade. Your trades pay our 1% plus the curve's or pool's own fee. See Fees.

bonk.fun FAQ

Is bonk.fun the same as letsbonk.fun?

Yes. bonk.fun started as letsbonk.fun, and its platform account on Raydium LaunchLab still reads letsbonk.fun on chain. In clusterz both are the Bonk pill and the Bonk chip.

Where do bonk.fun tokens go after graduating?

To a Raydium pool. bonk.fun runs on Raydium LaunchLab, and LaunchLab moves the raised funds and remaining tokens into a Raydium pool when the curve completes. Raydium's docs name its CPMM pool for that step.

How do I see only bonk fun new pairs?

Open Trenches with the bonk.fun link above, or turn off every chip but Bonk in each column's Launchpads row and press Save. Each column keeps its own filters.

Can I copy trade bonk.fun launches on clusterz?

No. Copy Trade follows buys on pump.fun and PumpSwap only. You can still watch bonk.fun launches in Trenches and buy them yourself.

Sources, checked 5 November 2026

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