As the Solana ecosystem thrives, we have witnessed a surge of homogeneous Launchpad projects. This phenomenon inevitably prompts us to consider: how can emerging platforms stand out in such a crowded market? This article will delve into this issue and provide a concise analytical framework.

The core question is: What drives users to choose a new Launchpad instead of established platforms like Pump.Fun (or now Bonk)? We can categorize users into two groups: bidders and deployers. Although these two user groups are closely related, due to the scarcity of funds, we will focus first on the core group of bidders.

For bidders, the main motivation for choosing a new platform is clearly more profit opportunities. However, many influencing factors are beyond the platform's control. Therefore, we focus on the key driving factors that the two platforms can control:

1. Assets: Can the platform provide assets with significantly differentiated value?
2. Flows: Does the platform provide unique flows for deployers?

In-depth analysis of asset factors reveals that people purchase tokens mainly for two reasons: speculation and practicality.

In terms of speculation, the driving factors include the meme effect (such as the popularity of Meme coins) and fundamental factors (such as capital reserves, cash flow, etc.). However, Launchpads find it difficult to create significant differences at the speculative level. The meme effect is often spontaneous, relying on market sentiment; while fundamental factors ultimately depend on the performance of the project team or the product itself.

In terms of practicality, this could be a key area for Launchpad to differentiate itself. However, creating truly valuable utility assets is a challenge.

In conclusion, if the emerging Launchpad platform wants to secure a place in the competitive Solana ecosystem, it must put considerable effort into the practicality of assets and the uniqueness of traffic. Only through continuous innovation and optimization can it attract more users and achieve sustainable development.