Solana's rising star sparks a craze for全民 coin issuance, Pump.fun brings fairness and risks together
TechFlow Selected TechFlow Selected
Solana's rising star sparks a craze for全民 coin issuance, Pump.fun brings fairness and risks together
Why has Pump.fun gone viral across the web?
Navigating Web3 tides with focused insightsBy Daniel Li
Internet culture and memes have always played a significant role in the crypto market. However, due to the high-risk nature of meme coins, most investors rarely profit from them and often suffer substantial losses. This situation has made value investing in the meme market unreliable, with excessive speculation and hype.
Yet, the built-in traffic potential of memes has become an indispensable part of public blockchain development. Therefore, how to maintain fairness within the meme market has become a key topic in this bull cycle. As the largest meme launch platform in the Solana ecosystem, Pump.fun has recently attracted widespread attention. Upholding a fair narrative, Pump.fun enables users to deploy and issue tokens at extremely low cost (0.02 SOL) without any coding experience. Since its launch in January, Pump.fun has issued over 460,000 tokens. Its rise has ushered the meme coin sector into a new era of "everyone can launch a token."
01 What is Pump.fun
Pump.fun is a meme-focused token launching tool and community platform. It launched on Solana in January 2024 and shortly after added support for Ethereum L2 Blast. By simplifying the token creation process and lowering technical barriers, Pump.fun offers users a simple and low-cost way to deploy and issue tokens. Users only need to pay a fee of 0.02 SOL—no development experience required—to easily use the platform.
These simplified, low-cost features have quickly made Pump.fun popular, achieving remarkable success. Over the past 10 days, Pump.fun’s trading volume has shown parabolic growth, increasing total revenue by nearly 50%. Currently, the platform maintains daily earnings above $450,000, showing no signs of slowing down.
Pump.Fun Token Launch Process
Users can currently choose between Blast or Solana. From there, the launch process is very straightforward: click “Start a New Coin,” enter the name, symbol, description, and logo, then pay 0.02 SOL to initiate the token's “fundraising” issuance phase. The entire process is extremely simple, requiring no adjustments to supply or ownership settings—making it accessible even to non-technical users.
After creating a new coin, the token launches via a bonding curve on the Pump.Fun platform. A bonding curve is a mathematical function that determines token price based on supply. As more tokens are purchased, the price typically increases. Anyone can buy or sell on the platform, and once the token’s market cap reaches $69,000, liquidity from the bonding curve is automatically deposited into Raydium and then burned.
Once liquidity is deposited and burned, users can purchase the token through Raydium, Solana’s decentralized exchange, or via their preferred Telegram bot and web application interface, gaining further liquidity. At this point, the newly issued token behaves like any other standard token, marking a successful launch.
Key Features of Pump.Fun
(1) Extremely Low Launch Cost: Anyone can deploy their own meme token on Pump.fun for less than $2.
(2) No Need to Seed Liquidity: Pump.fun does not require creators to provide large initial liquidity. The system automatically creates an initial liquidity pool (around $60,000) on DEXs.
(3) Automated Process: Once a new token reaches a market cap of $60,000, all funds collected are automatically injected into the liquidity pool and listed on Raydium Swap.
(4) No Minting Rights: Creators relinquish minting rights upon deployment—all tokens are fully pre-minted at launch.
(5) Fair Distribution: Since creators cannot reserve tokens, all tokens enter the open market immediately at launch—no hidden wallets.
(6) High Risk & High Reward: Meme tokens on Pump.fun experience extreme price volatility, with severe PUMP & DUMP behavior—high risk, but potentially high returns.
02 Why Pump.fun Went Viral
With growing interest in internet culture and meme coins, many investors are eager to launch their own tokens. However, they often lack the technical knowledge required to create a proper token. For a long time, meme coin issuance was monopolized by institutions with advanced technical skills and strong capital, making it difficult for average users to participate.
Additionally, frequent issues such as insider allocations ("rat warehouses"), rug pulls, and front-running by so-called "scientists" have made the meme market hostile toward ordinary investors. Recently, BOME popularized the "meme presale" model, which became a new method for retail investor exploitation just one week later. Most presale projects in the market now exhibit rug pull behaviors. For example, Avalanche fundraising project Sener raised about 93,000 AVAX (approximately $4.8 million), after which the founder transferred large amounts of AVAX away. The project’s token, SENDER, saw only a slight increase at launch before crashing into full-scale dumping.
Lack of transparency and fairness fills the meme market with risks. Yet, the allure of hundredfold gains keeps investor enthusiasm alive. To sustain market vitality, there is an urgent need for a meme launch platform similar to Birdeye, but with stronger emphasis on fairness. Pump.fun perfectly meets the needs of meme enthusiasts.
In terms of fairness, Pump.fun satisfies the entry needs of ordinary investors through ultra-low launch costs, while simplifying the entire token creation process by productizing memes, making it more open and transparent.
Creators automatically forfeit minting rights when deploying tokens, meaning Pump.fun tokens have no official team or managers—eliminating rug pulls caused by super-admin privileges.
Secondly, Pump.Fun enhances fairness by removing creator control over the launch process. Liquidity on the platform is artificially created and operates along a bonding curve retained by the platform. Once a Pump.Fun token lists on Raydium, liquidity is automatically burned, locking AMM liquidity permanently. Even project creators cannot stop this process.
Moreover, beyond offering a fairer token launch model, Pump.fun innovatively integrates social features into the process—one of its major breakthroughs. When creating a token on Pump.fun, users must add not only the name but also images and descriptions, along with comment functionality. This allows quick, intuitive sharing of stories and styles behind each token. Additionally, Pump.fun includes a message board-like feature where users can leave messages and interact with each other.
Thanks to its combination of fairness, transparency, and social engagement, Pump.Fun rapidly gained popularity across the crypto industry. Within less than three months of launch, it became the most trafficked memecoin platform in the Solana ecosystem. According to DeFiLlama data, Pump.Fun’s total fees exceeded $3 million over the past seven days. Notably, on May 7, Pump.Fun set a record high, generating over $752,000 in daily fees—making it the highest-earning application in the Solana ecosystem.
03 Pump.Fun: Fairness Comes With Risks
Pump.Fun was originally conceived to promote fairness in the meme market. As a new project, it indeed achieved greater fairness and transparency compared to traditional platforms. But in crypto, higher profits often come with higher risks—and some of Pump.Fun’s rules have been exploited by malicious actors to manipulate others.
By lowering the barrier to token creation, Pump.Fun enables everyday investors to join the launch market—resulting in over 10,000 new tokens launched daily. However, the vast majority of these are junk coins. For investors, identifying potentially valuable tokens among thousands of low-quality ones is extremely difficult due to limited available information. They must rely heavily on social signals—such as message board activity or token descriptions—to assess quality.
Unfortunately, these social signals are easy to fake. Ordinary investors may be more inclined to trust and buy tokens associated with well-known figures. However, they might not realize that these influencers could be impersonated using high-follower accounts, creating false impressions of popularity. These bad actors accumulate large positions early, then sell off rapidly once retail investors are lured in by the illusion of traction. Similarly, real influencers may leverage their reputation to launch new tokens and quickly monetize (i.e., “harvest”) their influence through aggressive price curves.
For instance, TEST—the first meme token deployed on Pump.Fun, created by the dev team—saw early buyers acquire nearly 50% of the supply using bots, causing prices to spike. Subsequently, holders dumped their positions, leading to a sharp price drop and leaving latecomers trapped. Another example is BERT, which surged tenfold within 15 minutes of launch, only to crash dramatically afterward due to severe PUMP & DUMP activity.
Pump.Fun’s fairness lies in giving every user a chance to participate—but the gambling element is strong. Getting it right could yield hundreds of times returns in under a day, but being wrong means becoming prey. Compared to a meme launch platform, Pump.Fun feels more like a casino. Even professional poker player Tom Dwan referenced Pump.fun on Twitter, hinting at his interest in its gambling-like entertainment aspect.
04 Pump.fun Sparks a Nation-Wide Token Launch Trend
Pump.Fun’s popularity has ignited a nationwide trend of token creation. In the past two weeks, the Solana network has seen an average of 14,000 new tokens issued per day, most originating from Pump.Fun. For six consecutive days, Pump.Fun has generated 10,000 meme coins daily—showcasing its immense momentum in the meme market. Meanwhile, Base chain has consistently added over 2,000 new trading pairs daily. The explosive rise of one-click token launch tools like Pump.Fun signals that the meme coin space is entering a new phase of “mass token creation.” Besides Pump.Fun, several other notable meme launch platforms have emerged.
We.rich
We.Rich is a UGA (User-Generated Asset) platform allowing anyone to launch LP-free (no liquidity pool) meme tokens with one click. Building upon Pump.Fun’s foundation, We.Rich adds enhanced features and improved UI design—for example, keeping token prices extremely low during the initial fair launch phase and introducing limited mint functionality. However, We.Rich lacks robust social features and comprehensive asset information. Although its issuance volume and active user base still lag significantly behind Pump.Fun, its emergence presents a new competitor in the meme launch arena, especially relevant for Base chain’s vibrant meme market.
Rug.fun
Rug.fun is another meme coin issuance platform on Base chain, sharing similarities with Pump.fun—anyone can launch a token. However, Rug.fun’s rules are more aggressive and gamified.
Rug.fun’s launch mechanism consists of two phases. Phase One allows anyone to create a token during a 12-hour window. After closing, only the top 10 tokens with highest liquidity advance to Phase Two—the rest receive refunds. Phase Two is a competition among those top 10, lasting another 12 hours. Only the #1 and #10 tokens win. Holders of these two tokens split all liquidity funds from tokens ranked #2 to #9 equally (50% each). Additionally, each token purchase incurs a tax that increases over time, and winners also share accumulated taxes. Ultimately, the winning tokens gain eligibility for listing on a decentralized exchange (DEX).
Friend.tech
Friend.tech is a decentralized social platform that released Friend.tech V2 in March 2024, introducing the Club feature. On both Friend.Tech and Clubs, anyone can create non-abusable, 100% secure tokens with a single click.
Once created, these tokens operate under a bonding curve mechanism—meaning price correlates directly with supply. As supply increases, price rises, incentivizing holding and participation. Being a decentralized social platform, these tokens tie creators and holders to social connections, linking identity and reputation across the internet and blockchain. This gives creators greater responsibility and motivation to ensure project success.
Join TechFlow official community to stay tuned
Telegram:https://t.me/TechFlowDaily
X (Twitter):https://x.com/TechFlowPost
X (Twitter) EN:https://x.com/BlockFlow_News
