In this paper, we study weakly interacting diffusion processes on random graphs. Our main focus is on the properties of the mean-field limit and, in particular, on the nonuniqueness of stationary states. By extending classical bifurcation analysis to include multichromatic interaction potentials and random graph structures, we explicitly identify bifurcation points and relate them to the eigenvalues of the graphon integral operator. Furthermore, we characterize the resulting McKean-Vlasov PDE as a gradient flow with respect to a suitable metric. We combine these theoretical results with the spectral analysis of the linearized McKean-Vlasov operator and extensive numerical simulations to gain insight into the stability and long-term behaviour of stationary solutions. In addition, we provide strong evidence that (minus) the interaction energy of the interacting particle system serves as a natural order parameter. In particular, beyond the transition point and for multichromatic interactions, we observe an energy cascade that is strongly linked to the dynamical metastability of the system.
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