Over 1.80 million Meme Coins Launched Pump.Fun, Only 1.4% Successfully Entered Raydium
2024-08-19 08:12:20
Defillama data solana ecology meme coin generation forming platform pumpdesk3cryptocurrencydesktopCrypto News
According to DefiLlama, the Solana ecosystem Meme generation platform Pump.Fun the platform now has cumulative revenue of $94.50 million, a significant increase from $50 million at the end of June. Pump.Fun has facilitated the deployment of more than 1.80 million Meme coins since its launch at the beginning of this year, largely due to Solana's low transaction costs. The platform uses a binding curve model that makes price movements more predictable. Of 1.80 million tokens created, only 1.4% successfully entered Raydium. Pump.Fun primarily generates revenue by charging 1% transaction fees and high-frequency trading volume. Recently, the platform has eliminated the cost of user token deployment and started rewarding creators with 0.5 SOL (~ $80) when a token crosses the binding curve.
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