In addition to launching an advanced trading website, pump.fun also hints at plans to launch its own Token in the future.
The leading memecoin platform pump.fun plans to issue a Token. Image: The Block
In the early morning of October 20, the leading memecoin creation and trading platform on Solana, pump.fun, announced the launch of "Pump Advanced", a new advanced website for investors.
Pump Advanced will provide a more comprehensive interface with more information for memecoin buyers, including price charts, a list of wallet addresses holding the Token, dev wallets, and real-time updates to meet the needs of investors who want to trade more frequently.
— pump.fun (@pumpdotfun) October 19, 2024
The new platform will offer free trading for users in the first 30 days, with specific fees to be updated later.
Furthermore, during a community Spaces session, the project representative revealed that they will launch their own Token in the future, with the goal of "rewarding real users". pump.fun stated that they will use the profits earned so far to reinvest in the platform and "build it to be as strong as Binance".
According to data from dune analytics, since its launch in January this year and the rise of the memecoin craze on Solana since April, pump.fun has generated over $137 million in trading fees, with several peak periods generating $1-2.5 million in fees per day.
Revenue statistics of pump.fun. Source: @adam_tehc on dune analytics on the morning of October 20, 2024
However, the project has also faced a lot of criticism for facilitating the reckless issuance of memecoins, leading to pump-and-dump schemes and MEV exploiting user fees.
So far, 2.5 million memecoins have been created through pump.fun, but the number that have passed the initial stage and qualified to be listed on Raydium is only 1.3-1.68% in the past few months.
The number of memecoins created through pump.fun and the success rate by month, screenshot from @adam_tehc on dune analytics on the morning of October 20, 2024
Compiled by Coin68
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