In the past 38 days, Pump.fun – a meme coin generation and marketplace – has generated an impressive earnings total of $5.2 million.
Based on DefiLlama’s data, the platform earned a total of $528,000 in fees on the previous day. Launched initially for Solana (SOL) tokens back in January, the platform expanded its reach by adding support for Ethereum‘s Layer 2 network, Blast, in February.
In simple terms, Pump.fun is generating buzz in the crypto meme coin circle due to its accessibility. Users can easily develop their own tradeable token, even without initial liquidity, for a low cost under $2.
The platform also aims to prevent rugpulls, a common scam in the crypto world.
“Each coin on Pump is a fair-launch with no presale and no team allocation,” the platform asserts.
On Pump.fun, it’s simple to generate a new token. Just choose a name, assign a ticker symbol, and upload an image during deployment. creators have the advantage of beginning trading right away using a bonding curve. This is a mathematical approach that sets a token’s price based on its quantity, typically rising as more tokens are purchased.
If a cryptocurrency token reaches a set value in terms of total market worth, an assigned amount gets transferred to a decentralized trading platform and destroyed. This process, triggered by the token’s milestone, helps fortify the token’s market stability and bolsters investor confidence.
A distinctive method provides an contrasting option to conventional token sales, which can involve significant expenses, intricacy, and dangers, such as the risk of fraud during presales.
To date, I’ve released a total of 182 @pumpdotfun coins into circulation. Approximately 37 of these coins have found their way to Raydium. My earnings from this venture amount to $642,000. However, the process is not as simple as it may seem.
— Sarto (@Sartoshi0x) April 7, 2024
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2024-04-08 20:41