It’s often said that during a gold rush, the smartest move is to sell picks and shovels rather than pan for gold yourself. In that vein, Pump.fun (PUMP -8.31%) on Solana and Pons (PONS +6.13%) on the new blockchain by Robinhood Markets are two of the biggest token launchpads in crypto right now. For a fee, these projects and others like them make the formerly onerous process of spinning up a new coin an easy workflow that takes a minimal amount of capital and less than five minutes. The token’s price ascending to the moon after launch is, unfortunately, not guaranteed.

Despite only launching about two months ago, Pons has out-earned Pump.fun in daily fees every day since Aug. 29. That might not last once the enthusiasm surrounding the…