Pump.fun
| Type | Token creation platform |
|---|---|
| Blockchain | Solana |
| URL | pump.fun |
| Launch | January 19, 2024 |
| Founders | Alon Cohen Noah Tweedale Dylan Kerler |
| Headquarters | London, UK |
| Tokens Created | 12.7+ million |
| Total Revenue | $834+ million |
| Total Volume | $150+ billion |
| Graduation Rate | 0.89% |
Pump.fun is a memecoin creation and launch platform built on the Solana blockchain. Launched in January 2024, the platform revolutionized the memecoin market by allowing anyone to create their own token for less than $2 in fees, without any technical knowledge required.
The platform quickly became the fastest-growing cryptocurrency application in history, reaching $100 million in revenue in record time and being responsible for up to 70% of all new tokens launched on the Solana network.
History
The pump.fun domain was registered on September 19, 2023. Four months later, on January 19, 2024, the platform was officially launched.
According to a New York Times report, the founders created the platform due to frustrations with the difficulty of trading memecoins and the risks of rug pulls (scams where developers abandon the project after raising funds).
Timeline
How It Works
Token Creation
Creating a token on Pump.fun is extremely simple:
- Choose a name and ticker for your token
- Upload an image/logo
- Pay less than $2 in fees
- Your token is created instantly
Bonding Curve
Pump.fun uses a mechanism called a bonding curve. It works like this:
- The token price starts very low
- Each purchase automatically increases the price
- Each sale decreases the price
- No need to create traditional liquidity pairs
Graduation
When a token reaches approximately $90,000 market cap (previously it was $69,000), it "graduates." This means:
- The token migrates to the DEX Raydium
- It receives real liquidity in a traditional pool
- It can be traded on other platforms
- Pump.fun charges 1.5 SOL for this migration
Founders
Pump.fun was founded by three British entrepreneurs in their early 20s:
- Alon Cohen - Co-founder and most visible public figure
- Noah Tweedale - Co-founder
- Dylan Kerler - Co-founder
The founders maintain a high level of anonymity. According to Noah Tweedale in an interview with WIRED magazine, this is for "personal safety" considerations given the volume of crypto assets managed by the platform.
Business Model
Fees
| Fee Type | Amount | Description |
|---|---|---|
| Creation Fee | ~$2 | Cost to create a new token |
| Swap Fee | 1% | Charged on each buy/sell on the bonding curve |
| Graduation Fee | 1.5 SOL | Charged when the token migrates to Raydium |
Revenue
With millions of tokens created and billions in trading volume, Pump.fun has become one of the most profitable companies in the crypto ecosystem:
- Total Revenue: $834+ million
- Annualized Revenue: $492 million
- Estimated Daily Revenue: ~$3.5 million
ICO (July 2025)
In July 2025, Pump.fun held an Initial Coin Offering (ICO) that raised:
- $600 million in public sale (12 minutes)
- $720 million in private sales
- Total: ~$1.3 billion
Controversies
Ex-Employee Theft (May 2024)
Jarett Dunn, a former Pump.fun employee, stole approximately $1.9 million using his privileged access to the system. He used flash loans to manipulate bonding curves and drain liquidity intended for Raydium.
Livestreaming Suspended (November 2024)
The platform had a livestreaming feature that was indefinitely suspended after disturbing incidents. In one extreme case, a user simulated suicide during a live stream as a marketing strategy for their token.
UK Ban (December 2024)
The UK's Financial Conduct Authority (FCA) warned Pump.fun about operating in the country without proper authorization. In response, the platform banned all UK users.
$500 Million Lawsuit (January 2025)
A class action lawsuit was filed in the Southern District of New York alleging that Pump.fun:
- Operates as an unregistered securities exchange
- Facilitates "Ponzi-like" schemes
- Puts investors at high financial risk
General Criticisms
- Facilitating scams and rug pulls
- Tokens with offensive or illegal themes
- Market manipulation by insiders
- Lack of KYC/AML (identity verification)
Statistics
| Metric | Value | Period |
|---|---|---|
| Tokens Created | 12.7+ million | Cumulative through 2025 |
| Graduated Tokens | ~105,000 | Cumulative through 2025 |
| Graduation Rate | 0.89% | 2025 |
| New Tokens Per Day | 20,000 - 30,000 | Average 2024-2025 |
| Daily Traders | 200,000 - 300,000 | Average 2024-2025 |
| Total Volume | $150+ billion | Cumulative |
| Total Revenue | $834+ million | Cumulative |
| % of New Solana Tokens | 70% | Peak in January 2025 |
| % of Solana Volume | 10-25% | Variable |
Famous Tokens Launched on Pump.fun
Some of the most successful memecoins in crypto history were launched on Pump.fun:
| Token | ATH Market Cap | Highlight |
|---|---|---|
| Fartcoin | $2.5B | Idea suggested by AI (Truth Terminal) |
| Peanut the Squirrel | $1.3B | Euthanized squirrel - Elon Musk posted |
| Goatseus Maximus | $1.3B | First AI Agent token |
| Popcat | $1.5B | Classic 2020 meme |
| Moo Deng | $600M | Viral hippo - Vitalik adopted |
| MOTHER | $200M | Iggy Azalea's token |
References
- Wikipedia - pump.fun
- CoinDesk - Most Influential 2024
- WIRED Magazine
- New York Times
- CryptoSlate
- The Block