Pump.fun, a popular meme coin platform built on Solana, has unveiled its upgraded trading terminal, Pump Advanced, during the X Spaces event on October 19. The platform, which has facilitated the launch of over 2.5 million meme coins, aims to provide traders with a seamless and data-driven experience through the new terminal.
The announcement highlights the features of Pump Advanced, including mini-charts, data on top holders, and social indicators. These tools will assist traders in navigating the vast number of memecoins currently seeking attention. In addition, the platform will offer 0% fees for the first month and enhanced login security options through Privy.
During the event, Pump.fun also hinted at the launch of its native token. While no specific timeline was given, the team confirmed that early adopters would receive a portion of the token supply as a reward for their support. This revelation has generated excitement within the community, with traders speculating that the airdrop could increase liquidity, especially if it includes revenue-sharing features.
According to data from Dune Analytics, although transaction throughput is high, over 98.5% of the meme coins deployed on Pump.fun fail to list on Raydium, a Solana-based decentralized exchange. To address this issue, the team introduced $80 bonding curve incentives in August 2024 to incentivize developers to complete the capping and listing of tokens.
Vex, an airdrop farmer, expressed optimism about the potential rewards of Pump.fun’s airdrop, stating that revenue sharing could have a significant impact.
Despite its challenges, Pump.fun continues to attract high transaction volumes. On August 13, the platform generated over $5.3 million in revenue, surpassing the combined earnings of the top 24 crypto protocols for that day. In September 2024, it reached a milestone of $100 million in revenue, positioning itself as one of the fastest-growing applications in the crypto industry.
Pump.fun has established itself as a leader in the meme coin sector, enabling anyone to create tokens on Solana’s blockchain. Its rapid growth and innovative features have attracted traders, although critics question the sustainability of its model.
As Pump.fun moves forward with its advanced trading terminal and prepares for the token launch, it must address concerns regarding the high failure rate of token launches to maintain its momentum in the competitive crypto landscape.