Pump.fun, The No Code Meme Coin Launchpad on Solana

Overview and Origins

Pump.fun a Solana native platform is reshaping how meme coins are launched and traded, with no coding required. Users can create a token instantly by providing just a name, ticker, image, and (optional) banner, and it instantly becomes tradable on a bonding curve based AMM.

https://pump.fun/board

Launched on January 19, 2024 by founders Noah Tweedale, Alon Cohen, and Dylan Kerler, Pump.fun quickly became a viral hit among crypto enthusiasts  .

Pump.fun’s architecture is built around an on chain bonding curve AMM as users buy tokens, prices climb along the curve. This instant liquidity simplifies launching and ensures fair access: no presales, no team allocations, just a clean, transparent launch  .

Once a token reaches a certain market cap, it “graduates” to PumpSwap or other DEXs with automatically provisioned liquidity via the platform  .

Pump.fun exploded in popularity:

  • By mid 2024, it generated over $60 million in transaction fees and minted over a million tokens.
  • By 2025, cumulative metrics soared 11 million+ tokens launched, $700 million+ in revenue, and its share of Solana token launch activity reaching up to 71%.
  • A July 2025 ICO of its native token, PUMP, raised approximately $1.3 billion in record time ($600M public, $700M private).

Pump.fun reclaimed 90% of market share in Solana meme coin launchpads, overtaking competitors like LetsBonk  .

Launched in July 2025, PUMP serves as the platform’s native governance and utility token. While not required to use the platform, it powers incentivization and ecosystem growth.

The token’s release triggered a surge in interest, with aggressive buybacks and updates such as Project Ascend a dynamic fee system aimed at rewarding creator sustainability boosting its value by ~14%.

Project Ascend introduced:

  • Dynamic creator fees that decrease as market cap rises, aiming to make launches more sustainable.
  • Faster processing for token reactivation requests, and a real time revenue dashboard showing over $58M in buybacks, offsetting ~4.26% of circulating supply.

Additionally, initiatives like the Glass Full Foundation (liquidity injections) and a Kolscan-powered leaderboard enhance transparency and support robust project discovery.

Despite its popularity, Pump.fun faces growing scrutiny:

  • Rug pull and scam vulnerabilities remain. A WIRED journalist’s X account was hacked to promote a fraudulent meme coin launched on Pump.fun, illustrating how ease of creation amplifies abuse risk.
  • A class action lawsuit in early 2025 alleges Pump.fun operates as an unregistered securities platform and fosters pump and dump schemes.
  • Investigations revealed co founder Dylan Kerler may have conducted rug pull style token schemes during his teenage years, raising concerns of hypocrisy.
  • The broader memecoin market has faced backlash, with regulators and media criticizing its speculative excesses Pump.fun is recognized for lowering risk of honeypots but still enabling pump-and dump dynamics.

Pump.fun stands as both a symbol of crypto democratization and a cautionary tale of unchecked speculation. Its innovative infrastructure has fueled explosive growth but its rapid ascent also highlights the importance of governance, transparency, and user protection.