Pump.fun, a platform for creating and trading meme coins, has achieved a remarkable revenue of $5.2 million in just 38 days. According to DefiLlama, the platform generated $528,000 in fees yesterday alone. Initially launched for Solana (SOL) tokens in January, Pump.fun expanded its services to include the Ethereum Layer 2 network, Blast, in the following month.

Pump.fun has gained significant popularity within the meme coin community. The platform enables users to create and launch new tokens instantly, without the need for seed liquidity, at a cost of less than $2. One of its key features is the prevention of rugpulls, a common scam in the crypto world. Pump.fun ensures that every coin is a fair launch with no presale or team allocation.

The process of token creation on Pump.fun is simple. Users can choose a name, ticker, and image for their token and start trading on a bonding curve. This mathematical model determines the token’s price based on its supply, typically increasing as more tokens are purchased.

When a token’s market capitalization reaches a certain threshold, liquidity is deposited to a decentralized exchange and burned, enhancing stability and trust in the newly launched tokens. This approach provides a viable alternative to traditional token launches, which are often costly, complex, and risky, with potential vulnerabilities during presales.

So far, over 182 Pump.fun coins have been launched, with 37 making it to raydium. Despite the platform’s success, launching tokens is not as easy as it may seem, as highlighted by user experiences.

For more information on the latest trends in the cryptocurrency market, visit Global Crypto News.

Post Views: 1