Pump.fun
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Pump.fun is a Solana-based memecoin generator that simplifies the process of creating tokens. [1]
Background
[edit]Pump.fun was launched in January 2024 by the pseudonymous founder Alon.[2] The platform became recognized for its straightforward protocol, enabling users to create Solana-based tokens in a matter of minutes without any associated fees.[3] By August 2024, the platform had facilitated over 1 million token launches, accounting for up to 67.5% of daily token creations on Solana.[4]
In its early stages, Pump.fun charged a nominal fee of 0.02 SOL for token creation.[5] This fee was removed in August 2024, making the service entirely free and incentivizing creators with 0.5 SOL if their token completed its bonding curve.[6]
In May 2024, Pump.fun experienced a security breach when a disgruntled employee drained approximately $2 million worth of Solana from the platform.[7]
Pump.fun has launched meme coins and celebrity-endorsed coins by Iggy Azalea and Jason Derulo.[8][9]
As of November 2024, the platform facilitates the release of over 20,000 coins daily.[10][11]
Features
[edit]Pump.fun features a bonding curve mechanism that adjusts token prices based on demand.[12][13] Token launched on Pump.fun must achieve a specific market capitalization.in order to transition a token from Pump.fun to the decentralized exchange Raydium.[14] "[15] The platform includes anti-rug-pull measures, such as prohibiting pre-assigned tokens, and a live-streaming feature for promotional activities.[16]
References
[edit]- ^ Hitchcock, Decrypt / Logan (13 November 2024). "Solana's Tensor Teases Social Trading App to Rival Pump.fun". Decrypt. Retrieved 20 November 2024.
- ^ "Pump.fun teases future token and reveals new trading terminal". cointelegraph.com. Retrieved 20 November 2024.
- ^ Gladwin, Decrypt / Ryan S. (21 October 2024). "Pump.fun Teases Token and 'Lucrative' Solana Airdrop Amid Record Week". Decrypt. Retrieved 20 November 2024.
- ^ "Pump.fun Issues 3 Billion New Meme Coins". www.techopedia.com. Retrieved 20 November 2024.
- ^ "Pump.fun Guide: How to Create Your Own Memecoins and Qualify for the Upcoming Airdrop". www.coingecko.com. Retrieved 20 November 2024.
- ^ "Pump.fun hits record revenue amid AI and memecoin frenzy, surging to $30.5 million in October". /www.theblock.co. Retrieved 20 November 2024.
- ^ Adejumo, Oluwapelumi (20 October 2024). "Solana-Based Pump.fun Unveils Pro-Trading Terminal Alongside Token Launch Plans". BeInCrypto. Retrieved 20 November 2024.
- ^ "Pump.fun Dumps Another 36,400 SOL, Where Does This Leave Solana's Price?". cryptodaily.co.uk. Retrieved 20 November 2024.
- ^ "Potential Pump.fun Airdrop » How to be eligible?". airdrops.io. Retrieved 20 November 2024.
- ^ "Pump.fun earned over 1m Solana, ecosystem market cap reaches $2.3b". crypto.news. 30 October 2024. Retrieved 20 November 2024.
- ^ Adeyemi, Boluwatife (11 November 2024). "Pump Fun Sells 43,000 SOL As Solana Price Touches $220". CoinGape. Retrieved 20 November 2024.
- ^ Nelson, Danny (16 May 2024). "Solana Meme Coin Factory Pump.Fun Compromised by 'Bonding Curve' Exploit". www.coindesk.com. Retrieved 20 November 2024.
- ^ "Pump.fun Unloads $25M SOL Amid Solana's Price Surge". www.cryptotimes.io. 19 November 2024. Retrieved 20 November 2024.
- ^ "Pump.Fun planning to launch a token in the future: X Spaces". www.theblock.co. Retrieved 20 November 2024.
- ^ "Pump.fun Surpasses $100 Million in Total Revenue". www.cryptotimes.io. 31 August 2024. Retrieved 20 November 2024.
- ^ "Pump.fun Cumulative Revenue Reaches $170.8M: Guest Post by ItsBitcoinWorld | CoinMarketCap". coinmarketcap.com. Retrieved 20 November 2024.