Ethereum

Solana

2024

Base

Daily

Pump.fun, a meme coin creation and trading platform, has reported a staggering revenue of $5.2 million in just 38 days. 
According to <a href="https://defillama.com/protocol/pump?fees=true&amp;revenue=true" data-type="link" data-id="https://defillama.com/protocol/pump?fees=true&amp;revenue=true" target="_blank" rel="">DefiLlama</a>, the platform generated $528,000 in fees yesterday alone. Initially rolled out for Solana (<a href="https://crypto.news/price/solana/" data-type="link" data-id="https://crypto.news/price/solana/" rel="">SOL</a>) tokens in January, the platform broadened its horizon by integrating support for the Ethereum Layer 2 network, <a href="https://crypto.news/tag/blast-l2/" data-type="link" data-id="https://crypto.news/tag/blast-l2/" rel="">Blast</a>, the following month. 
Pump.fun has quickly become a hot topic among the crypto <a href="https://crypto.news/tag/meme-coin/" data-type="link" data-id="https://crypto.news/tag/meme-coin/" rel="">meme coin</a> community. The platform allows virtually anyone to create and launch a new token that is instantly tradable, without seed liquidity, and costs less than $2. 
The platform also aims to prevent <a href="https://crypto.news/tag/rugpulls/" data-type="link" data-id="https://crypto.news/tag/rugpulls/" rel="">rugpulls</a>, a common scam in the crypto world. 
“Each coin on Pump is a fair-launch with no presale and no team allocation,” the platform <a href="https://www.pump.fun/board" data-type="link" data-id="https://www.pump.fun/board" target="_blank" rel="">asserts</a>. 
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 Daily chart of fees and revenue for Pump.fun from DefiLlama
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 You might also like: <a href="https://crypto.news/bitcoin-all-time-high-daily-trading-volume/" rel=""> Bitcoin nears all-time high as daily trading volume rises 70% </a> 
The process of creating a token on Pump.fun is straightforward. Deployers select a name, ticker, and image. Creators can immediately start trading on a bonding curve—a mathematical model that determines the price of a token based on its supply, usually increasing as more tokens are bought. 
When a token’s market capitalization hits a predetermined threshold, liquidity is deposited to a decentralized exchange and burned, enhancing stability and trust in the newly launched tokens. 
The unique approach offers a stark alternative to traditional token launches, often fraught with high costs, complexity, and risks, including susceptibility to scams during <a href="https://crypto.news/solana-meme-coin-team-rug-pull/" data-type="link" data-id="https://crypto.news/solana-meme-coin-team-rug-pull/" rel="">presales</a>. 
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 So far, I've launched 182 <a href="https://twitter.com/pumpdotfun?ref_src=twsrc%5Etfw" target="_blank" rel="">@pumpdotfun</a> coins. About 37 have made it to raydium. I've only made $642,000 It's not as easy as people think.— Sarto (@Sartoshi0x) <a href="https://twitter.com/Sartoshi0x/status/1776891604998988053?ref_src=twsrc%5Etfw" target="_blank" rel="">April 7, 2024</a>
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 Read more: <a href="https://crypto.news/solana-base-dex-listings-meme-coin/" rel=""> Solana, Base account for most DEX listings amid meme coin craze </a>

Pump.fun finds revenue behind meme coin-centric platform launch

crypto.news

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