Pump.Fun Takes Over Solana Memecoin Scene

The no-code platform allows anyone to create a memecoin in minutes.

By: Squiffs Loading...

image of a humorous bicycle pump

Given the explosion of interest surrounding memecoins, many participants are keen to launch their own coins but often lack the technical background needed for efficiently creating a token that can do well.

Pump.Fun enables non-technical users to launch memecoins without spending much time or money. This simplicity has made it a viable option for casual participants launching a token for fun, or for influencers that may not want to hire or trust a development team.

The platform markets itself on the ability to “launch a coin that is instantly tradeable without having to seed liquidity.”

Screenshot from Pump.Fun Homepage
Screenshot from Pump.Fun Homepage

Users currently have the option of using either Blast or Solana. From there, the launch process is as simple as clicking “Start a new coin” and inputting a name, ticker, description, and imagery for branding, with a deployment cost of 0.02 SOL, or $3.50 at current prices.

Prior to the token going live, the issuer has the option to purchase more of the token at the launch price, and after doing so, it is off to the races.

The new token is then launched along a bonding curve on the Pump.Fun platform that anyone can buy or sell into, and if the token reaches a total market cap of around $70,000, the liquidity from the bonding curve will be deposited into Raydium and burned. This is the point where many of the recent Pump.Fun success stories like HOBBES begin their journey.

The Defiant tested the platform with our own experimental DefiANT token, and it turned out that launching it was as easy as advertised. The majority of time spent creating these coins goes into crafting content or social media pages, and the actual no-code launch process can take as little as two minutes.

Screenshot of Pump.Fun Token in Bonding Curve Stage
Screenshot of Pump.Fun Token in Bonding Curve Stage

After the token’s liquidity is deposited and burned, users can buy it through Solana decentralized exchange Raydium or via their preferred Telegram Bots and Web-App terminals, which allows for substantially more liquidity. Once this point is reached, the Pump.Fun tokens look like just any other token.

At this time, a new token is being launched on Pump.Fun every minute, and while most do not reach the $70,000 threshold, some of the largest launches of the past week started on the platform. A couple of the more notable tokens include $HOBBES, which reached over $120 million market capitalization, and $EPIK, which reached as high as $25 million market capitalization.

The platform launched initially on Solana in January 2024, but was quick to add Blast integration shortly after its mainnet went live in February. Since the end of March, volume on Pump.Fun has gone parabolic, generating nearly 50% of its total revenue in the last 10 days alone. Pump.Fun has been bringing in between $200,000 to $500,000 in fees every day for the last two weeks despite congestion issues on the Solana network.

Pump.Fun Daily Fees chart
Pump.Fun Daily Fees

It’s unclear whether or not there has been any outside investment or incubation into Pump.Fun, and if there are any plans to distribute a native token in the future. The team declined The Defiant’s request for comment.

In many ways Pump.Fun tokens are just as risky as any other memecoin that would be traded. They are likely to be just as volatile and can also be at risk of predatory ownership distributions.

That being said, the platform’s experience is similar to that of a fair launch, as all the tokens begin trading at such a low valuation, with no outside snipers or possibilities of early contract leaks.

Pump.Fun also eliminates the worries of the initial liquidity being rugged by the developer, because the liquidity on the platform is artificial and operates on a bonding curve preserved by the platform. Once Pump.Fun tokens go live on Raydium the liquidity is automatically burned, therefore locking the AMM liquidity.

The link to our $ANT token on Pump.Fun can be found here

Disclaimer: Please note that the only link to be trusted for the test DefiANT token is the one listed above. The token was launched as an experiment, and there will be no utility or future plans to develop it. The Defiant is not responsible for its performance.