Pump.fun, a Solana-based platform for launching memecoins, has generated more than $800 million in lifetime revenue, data from blockchain analytics shows.
According to a Dune dashboard by onchain analyst @adam_tehc, Pump has collected $800.7 million in fees since launch. The platform earns revenue through a 1% swap fee on token transactions, having previously charged projects when they “graduated” to Raydium, a Solana decentralized exchange, after hitting a set market capitalization.
Pump has been a driving force behind Solana’s memecoin boom, though it has faced rising competition from LetsBonk.fun, a rival launchpad that went live in April with backing from the Bonk community and ties to Raydium’s LaunchLab. LetsBonk briefly overtook Pump in the number of tokens reaching “graduated” status last month.
However, Pump has since regained the lead after several top memecoin deployers migrated back to its platform. “The top 10 deployers on LetsBonk moved over to Pump,” crypto trader @WazzCrypto said on social media.
The recovery has widened the revenue gap. Pump has been generating over $1 million a day, while LetsBonk’s daily revenue has slumped to below $30,000, down sharply from about $1 million earlier this month, according to the data.
Pump also launched its own token last month, raising $600 million in 12 minutes during an initial coin offering. The platform has since begun a buyback program at a premium to the market price in an attempt to support the token’s value.
The memecoin landscape itself is shifting. While Solana led the sector through 2024, it has recently been overtaken by Base, the Coinbase-incubated blockchain. Base’s new Base App combines token trading with decentralized social media features, automatically minting posts as ERC-20 tokens through the Zora protocol.
By Finance Feeds
about 8 hours ago
