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- Memecoins have surged in popularity on the Solana blockchain in 2024, and the user-friendly platform, Pump.fun is a key player in this trend.
- Pump.fun is a Solana-based memecoin launchpad, enabling anyone to launch a memecoin easily without technical expertise.
- Tokens launched on Pump.fun start with a market cap of $5,000 but many of them have reached millions.
- The key features of Pump.fun include low fees, easy token creation, and a fair launch system.
In 2024, the popularity of memecoins has skyrocketed, with a large portion of this new wave happening on the Solana blockchain due to the network’s low transaction costs. But there’s also another source feeding the frenzy – a new token creation platform called Pump.fun.
Memecoins are often seen as high-risk, community-driven tokens, attracting attention for their rapid launches and significant trading volumes. But launching a memecoin does entail some risk for creators, not to mention a significant time investment. Pump.fun removes those barriers, providing a streamlined, low-cost way to launch memecoins on Solana.
In this article, we’ll explore the Pump.fun platform and how you can use it to launch your own memecoin.
What is Pump.fun?
Pump.fun is a unique platform for creating and launching memecoins on the Solana blockchain. In addition, known for its simplicity and accessibility, it allows creators to quickly roll out crypto tokens with little to no technical expertise required. Lastly, the platform has a low barrier to entry and is designed to provide a fair launch. In other words, the developers cannot control token distribution or do a presale, giving community members fair access to the launch without the fear of a rug pull. This environment attracts a large and diverse pool of users.
The main purpose of Pump.fun is to enable anyone to launch a memecoin without needing coding experience or a large budget. Pump.fun handles the technical and logistical aspects of creating a token, from bonding curves to liquidity provision, making it an attractive option for both beginners and seasoned crypto enthusiasts.
Brief History of Pump.fun
Pump.fun was launched in 2024 to meet the growing demand for memecoin creation on Solana. Its founders, inspired by the community-driven spirit of memecoins like Dogecoin and Shiba Inu, aimed to create a platform that could make token launches accessible to everyone. Since then, the platform has grown in popularity, with thousands of tokens launched daily.
To put things into perspective, the number of memecoins launched on Pump.fun in October 2024 reached over 10,000. At the same time, over 95% of these coins died within the same day.
How Does Pump.fun Work?
The main feature of Pump.fun is that it offers a free way to launch a token on Solana without needing any technical skills. As a result, Pump.fun automates the entire process of creating, minting, and launching a token. Here’s a breakdown of the key mechanics:
- Token Creation: Users can create a token by simply entering details such as the name, ticker, and supply. Pump.fun then generates the token, ready for trading.
- Bonding Curve: Pump.fun incorporates a bonding curve pricing model, which means the price of the token increases as more people buy it.
- Fair Launch Mechanism: The developer of the token doesn’t have control over token distribution. As a result, this model creates a fair launch environment, preventing rug pulls and insider trading.
- Liquidity on Raydium: Pump.fun partners with Raydium, the leading decentralized exchange (DEX) on Solana, to provide liquidity for tokens launched on the platform. By doing this, Pump.fun ensures that tokens have sufficient liquidity for trading and encourages broader adoption.
In addition to launching memecoins, users can also browse existing memecoins and purchase them directly through the platform.
How To Launch Memecoins on Pump.fun
Launching a token on Pump.fun is designed to be as straightforward as possible. Here’s how it works:
- Visit Pump.fun: Start by going to the Pump.fun website and selecting the option at the top labeled “start a new coin”.
- Enter Token Details: Input the name and the ticker of your token and any additional information. Add an image or a video (this is required).
- Add Links (Optional): You can include a website, an X, and a Telegram link.
- Create Your Coin: Click the “Create coin” button to launch your creation.
- Buy Coins (Optional): Before launching the token, you’ll have the option to purchase some tokens. If you wish to do so, choose the amount of SOL that you want to spend. Once ready, click on “Create coin”. Pump.fun will handle the rest, deploying the token to Solana’s blockchain.
After launch, your token will be live and tradable with an automatically assigned market cap of $ 5,000. If the token reaches a market cap of more than $74,000, the liquidity will be transferred to the Raydium DEX on Solana and burned. As a result, the token will become more visible than simply trading it on Pump.fun. Note that only a very small percentage of the tokens launched on Pump.fun graduate to Raydium.
Biggest Pump.fun Tokens So Far
The best way to understand Pump.fun is by looking at some of its most successful tokens. Here are a few noteworthy tokens that had their humble beginnings on the Pump.fun platform:
Goatseus Maximus – $GOAT
- Launch Date: October 2024
Goatseus Maximus is one of the coins created by an AI model known as the truth terminal. Conveniently, GOAT fell into the category of memecoin animals. Moreover, the GOAT token launched on October 10 and reached Raydium on the same day, picking up speed, and showing no signs of stopping. Today, the market capitalization of GOAT stands at $617 million.
Fwog – $FWOG
- Launch Date: July 2024
With a similar vibe to other animal-based memecoins, Fwog bets on all things related to frogs. Furthermore, the project made it to the Raydium DEX on July 30 and continued to gather community members over the next few months. Today, FWOG has a market cap of $261 million.
Moo Deng – $MOODENG
- Launch Date: September 2024
If you’ve been following any viral videos on the internet, you’d know that Moo Deng was a worldwide sensation. Videos of the pygmy hippopotamus from a zoo in Thailand captured the hearts of many. Accordingly, the memecoin launched on September 10 and hit Raydium in a few hours. The current market cap of MOODENG is $224 million.
Luce – $LUCE
- Launch Date: October 2024
On October 29, the Catholic church officially revealed its mascot for the holy year. It was no other than an animated character named Luce. It wasn’t long before a Pump.fun token of the same name was created. Luce spiked in popularity, hitting Raydium in less than an hour and reaching a market cap of $72 million.
Key Features of Pump.fun
Pump.fun offers several standout features that make it a popular choice for launching tokens on Solana:
- Easy Memecoin Creation: The platform simplifies the process of creating a memecoin, making it accessible even to users with no coding experience.
- Low Fees: Pump.fun is cost-effective, allowing creators to launch tokens without paying hefty fees typically associated with other token-creation platforms.
- Bonding Curve: Pump.fun’s bonding curve model ensures fair pricing and incentivizes early buyers. As demand increases, so does the token’s price, rewarding initial backers.
- Fair Launch System: By implementing a fair launch system, Pump.fun avoids issues like presale or private allocations.
Closing Thoughts
To recap, Pump.fun offers an exciting opportunity for anyone looking to dive into the world of memecoins on Solana. With its accessible token creation process and fair launch mechanisms, Pump.fun has established itself as the go-to memecoin launchpad of Solana.
