Pons vs StonkFun vs Flap: Meme Launchpads on Robinhood Chain, Solana and BSC

Pons runs on Robinhood Chain and StonkFun runs on Solana. Flap is multi-chain, and what this article compares is the Permissionless Launch it shipped on BNB Smart Chain (BSC) on September 6. The differences that matter are who decides the quote token — the asset on the pricing side of the pair — and where liquidity ends up after graduation.

• Pons v2: any quote token other than ETH has to be approved by Pons first. Graduates into Uniswap v4.
• StonkFun: for new launches the creator picks the quote token from the assets the platform currently supports, and that range includes a custom mint. Trading starts on a Raydium LaunchLab bonding curve and graduates into a Raydium CPMM pool. Coins launched before the LaunchLab move took a different path.
• Flap: the creator picks the quote token and enters the contract address at creation. Graduates into a DEX on the same chain.

GMGN supports viewing and trading tokens from all three launchpads. Since multi-chain Trenches went live in September, you can tick Solana, BSC and Robinhood Chain together and scan new coins from different chains and different launchpads in one place. (Dates are UTC. Information current as of September 10, 2026.)

How do Pons, StonkFun and Flap differ on quote tokens?

Pons runs an approval list: anything other than ETH has to be approved by Pons, and creators cannot add their own. StonkFun creators pick from the quote assets the platform currently supports, a range that includes a custom mint. Flap’s Permissionless Launch lets the creator type in the quote token’s contract address.

Launchpads used to price everything in SOL or ETH, so the quote token was rarely something worth comparing. Now that a stock token, an RWA or another meme can sit on the quote side, who decides the quote token — and how wide the choice is — feeds directly into how a meme is priced and how you get out of it.

The table compares the three on the chain covered here, the quote token rule and where they graduate, as of September 10, 2026. Flap is deployed on several chains; the Flap column covers its Permissionless Launch on BNB Chain.

So meme-against-meme pairs can exist on both StonkFun and Flap. On Pons it depends on whether the other meme is already on the approved list.

Pons and StonkFun have each out-earned Pump.fun on daily protocol revenue recently. CoinGecko’s figures put those days at September 2 and September 6. Over the 30 days from August 9 to September 7, though, Pump.fun still accounted for 64% of the three launchpads’ combined revenue, against 28% for Pons and 8% for StonkFun. (Source: CoinGecko)

Which quote tokens does Pons v2 support?

Most Pons v2 launches are priced in ETH. Anything else has to come from the ERC-20s Pons has approved, and creators cannot add their own. (Source: Pons v2: Custom pairs)

The approval list limits which tokens can be used as a quote asset, reducing the risk of a creator pricing a meme against a token of their own making that is worth almost nothing. Being on the list only means the asset can be used for a Pons v2 launch; it is not a guarantee of its price, liquidity or safety. The list also moves — Pons can stop allowing new launches against an asset at any time, which does not affect coins already trading against it. (Source: Pons v2: Custom pairs)

For what has actually been used, look at the on-chain record. Bitquery’s read of Pons launches from August 3 to September 3 found 37 quote tokens in use, among them USDG, cbBTC and a range of tokenized stocks. More than a third of new coins were backed by something other than ETH or a stablecoin — tokenized stocks, commodities or wrapped bitcoin — with NVDA the most common. (Source: Bitquery: Pons on-chain data)

The quote token is fixed at creation and cannot be changed, and it runs through the whole launch: a meme priced in a Robinhood Stock Token is bought with that stock token and sold back into it, its graduation threshold is counted in it, the Uniswap v4 pool it graduates into is paired against it, and the creator’s fees are paid in it. Robinhood Stock Tokens are tokenized debt securities issued by Robinhood Assets (Jersey) Limited; they give economic exposure to the underlying share or ETF, but no legal or beneficial ownership of it. (Source: Pons v2: Custom pairs; Robinhood Chain: Stock Tokens)

Which quote tokens does StonkFun support?

Tokenized stocks, PreStocks, currencies, leveraged tokens and SOL are all in range, and so is a custom mint. The page groups the assets by category.

StonkFun’s new launches have moved to Raydium LaunchLab. (Source: StonkFun: Developer API; Bitquery: StonkFun API)

StonkFun’s own developer documentation says every token is priced against another token, with the current list fetched from GET /pairs and passed as quoteMint. (Source: StonkFun: Developer API) Bitquery’s read of the on-chain data adds what has actually been used as a quote token: xStocks such as SPYx, NVDAx and QQQx, PreStocks such as OPENAI and ANTHROPIC, ZEC, WBTC, HYPE, SOL, and other StonkFun coins. (Source: Bitquery: StonkFun API)

The custom mint here is not the same capability as Flap letting a creator enter any quote token address. Raydium LaunchLab itself supports flexible token pairs, but in StonkFun’s current create flow quoteMint still comes from the launchable list returned by GET /pairs; Flap’s Permissionless Launch lets the creator enter the quote token’s contract address directly. (Source: StonkFun: Developer API; Flap on X)

A StonkFun launch trades on the LaunchLab bonding curve first and moves into a Raydium CPMM pool once it hits its target. Worth noting: StonkFun tokens launched before the LaunchLab move took a different path, opening a pool at creation with no bonding curve and no on-chain graduation. Those tokens are still on chain, so bonding-curve progress from the new model does not describe them. (Source: StonkFun: Developer API; Bitquery: StonkFun API)

Which quote tokens does Flap Permissionless Launch support?

RWAs, blue-chip crypto, trending memes and other tokens all work. On September 6 Flap shipped Permissionless Launch on BNB Chain and calls the feature Quote Anything: creators enter the quote token’s contract address instead of choosing from a preset list. There is no single fixed destination pool after graduation — a tax token can only migrate to Uniswap v2 or a fork, while a non-tax token goes to v3 or a fork if that is viable and falls back to v2 or a fork if not. (Source: Flap on X; Flap: Migrated To DEX)

What is a quote token, and how does it move a meme coin’s price?

The quote token is the asset on the pricing side of a trading pair, also called the pairing asset. GMGN shows it as Quote Token.

The quote token has always affected a meme coin’s dollar price. Now that a stock token, an RWA or another meme can be the quote token, two more things need checking: how the quote token itself moves, and how much price impact a trade carries at the stage the launch is currently in.

Start with the quote token. A meme coin’s dollar price is its price against the quote token multiplied by the quote token’s dollar price. So a meme rising against its quote token does not mean it is rising against the dollar: if the quote token falls further, the dollar price still goes down. Pons flags this risk in its own docs. (Source: Pons v2)

Then price impact, stage by stage. For a launch on a bonding curve there is no post-graduation DEX pool yet — the fill price comes from the curve parameters, where the curve currently sits and the size of the order — so what to read is the estimated result of that specific order, not whether the pool looks deep. After graduation is when DEX pool liquidity and the price impact of an order start to matter.

For meme/stock-token, meme/RWA and meme/meme pairs there is one more thing to check: whether the quote token itself has enough market liquidity. A meme can sell back into its quote token cleanly and the quote token can still fail to convert into a stablecoin or anything else at the price you expected.

So when scanning new coins, confirm the quote token first, then decide whether to check its own price and liquidity and the fill conditions at the current launch stage. If you are scanning coins from several chains and launchpads at once, it helps to have the quote token as a filter and a display field rather than guessing from the coin’s name.

How to watch Pons, StonkFun and Flap coins together on GMGN

If you are following Pons on Robinhood Chain, StonkFun on Solana and Flap on BSC at the same time, you do not need three separate launchpad sites. GMGN’s multi-chain Trenches puts new coins from different chains on one page, filters launchpads per chain, and shows the quote token directly.

1. Pick your chains. Open the chain selector at the top of Trenches and tick SOL, BSC, Robinhood and whatever else you want to watch. New coins from those chains then appear together across the New Creation, Completing and Completed columns.
2. Filter launchpads per chain. Open Filter, switch to a specific chain at the top of the panel, then tick the launchpads you want under Platform — Pons and Pons V2 for Robinhood Chain, Stonk.fun for Solana, Flap for BSC. Each chain’s platform filter is independent, and they all apply at once.
3. See which chain and platform each coin came from. The bottom right of every token avatar shows a chain icon and a launchpad icon. A BSC icon plus a Flap icon means a Flap token on BSC — no guessing from the coin’s name or its quote token.
4. Show the quote token and the dividend token. Go to Trenches → Customize → Data Items and tick Pool & Dividend. Both then show under each token, without opening the detail page.

Quote token and dividend token are not the same thing: the quote token is what the meme is actually priced in, and the dividend token is what a token with dividends turned on actually pays out.

If you already know what kind of quote token you are after, the Quote Token filter narrows it further.

Does a high graduation rate mean a launchpad’s coins are better?

No. A graduation rate measures how many tokens met the launchpad’s graduation condition; it is not a measure of how they performed afterwards. For any single token, graduating is not a certificate of quality, safety or future performance.

Bitquery’s full on-chain read of Pons v2 covers August 3 to September 3, 2026: of the 207,893 tokens created in those 32 days, 3,228 reached Uniswap, a graduation rate of about 1.55%. Among the 2,339 graduates with enough subsequent trading to price honestly, the median now sits about 85% below its first hour after graduation, and fewer than one in ten are above that first-hour price.

So filtering Pons, StonkFun or Flap tokens by launchpad in GMGN only narrows what you are looking at. For any one token you still work through volume and liquidity, the dev, holders, Top 10, snipers, bundled buys and related wallets. And once a stock token, an RWA or another meme is the quote token, the other side of the pair needs checking on its own.

Risk warning: meme trading carries extremely high risk and can result in the total loss of your capital. This article is for information only and is not investment or financial advice. Do your own research and make your own decisions before trading. GMGN makes no promise, guarantee or projection of any gain or return. Any user gains or profits mentioned are individual cases, are rare, do not represent typical results, and are not a promise of future returns.