Revealing the real data of pump.fun: the token “graduation rate” is only 1.4%, the probability of a market value of US$10 million is only one in 100,000, and only 3% of users have made profits exceeding US$1,000.
Written by Karen, Foresight News
What about real data on the pump.fun platform? What is the “graduation rate” of a token? How many tokens can reach a market value of millions or tens of millions of dollars? What is the real profit situation of users? This article will show you one by one.
Regarding the pump.fun platform, in short, Meme tokens can be launched fairly on pump.fun, with no pre-sale and no team allocation. During the token's initial launch phase, these tokens trade along a bonding curve within the platform. Once the token crosses the critical threshold of $69,000 market cap, $12,000 of liquidity is deposited into Raydium and destroyed.
As for fees, the pump.fun platform will charge trading users a 1% exchange fee during the Meme token issuance period. This fee will continue until the token market value reaches the threshold of $69,000. For token creators, before the platform policy adjustment (that is, before early August), they need to pay a creation fee of approximately 0.02 SOL and a migration fee of 2 SOL after meeting the market value of $69,000.
It is worth noting that as of early August, pump.fun has introduced new rules, launched a free token creation feature, and provided financial incentives to token creators who successfully complete the bonding curve. Under the new rules, the creation cost of a token shifts from the creator to the first purchaser of the token, and the creator who successfully completes the bonding curve will receive a reward of 0.5 SOL (approximately equal to 80 US dollars), that is, the migration fee is adjusted to 1.5 SOL.
A total of 1.8 million tokens have been deployed through pump.fun, but the “graduation rate” is only 1.4%
According to Dune dashboard data provided by Hashed, the number of deployed tokens on the pump.fun platform is close to 1.8 million. Although the current market volatility is violent and the popularity of Meme tokens has dropped significantly, token deployment activities on the pump.fun platform have not decreased, but have continued.
Looking further, the Dune dashboard produced by @evelyn233 shows that in the past month, an average of more than 20,000 tokens were deployed on pump.fun every day. However, among this huge number, only a very small portion of the tokens that can be successfully launched on Raydium (that is, have a market value of more than $69,000 and meet the "graduation" standard), approximately between 100 and 200. This means that the recent token graduation rate of pump.fun is at a low level of 1% to 2%, and the proportion of tokens that have successfully "graduated" so far on the entire platform is as low as 1.4%. In addition, many tokens that successfully "graduated" did not perform well in the subsequent market, and their market value was close to zero.
In addition, the developer with the most tokens deployed on pump.fun created up to 3357 tokens, but only 16 tokens successfully "graduated". A total of 10 developer addresses created more than 1000 tokens, among which tokens were created The fifth-placed address created a total of 1,915 tokens, but none of them "graduated".
The probability of a market value of tens of millions of dollars is only one in 100,000
Successfully launching on Raydium does not mean that the token’s market capitalization performance will be smooth sailing. Further observing the market performance of tokens after migrating from pump.fun to Raydium, we can find that although some tokens have successfully launched transactions on Raydium, tokens that can cross the market capitalization threshold of tens of millions and millions of dollars have not Extremely rare.
As of writing, among the nearly 1.8 million tokens that have been deployed on the pump.fun platform, only 18 such as michi, DADDY, BILLY, MOTHER, SCF (Smoking Chicken Fish), TrumpAvega, aura, SC (Shark Cat), etc. The market value of one token successfully exceeded the $10 million mark, while the number of tokens with a market value exceeding $1 million is currently only 96.
The data suggests that the chance of a token created on pump.fun reaching a market cap of over $10 million is about one in 100,000, and the chance of reaching a market cap of over $1 million is only about 5 in 100,000. These data reveal the intense competition and low probability of success prevalent in the token market.
The proportion of new tokens created through pump.fun is steadily increasing
The chart below shows the change in the ratio of new tokens created through the pump.fun platform to other newly created tokens on the Solana network. It can be observed that the proportion of new tokens deployed by pump.fun has shown a steady upward trend, reaching a ratio of 6:4 in recent days.
Total fees on pump.fun have reached over 0.1% of the total supply of SOL
Total fees on pump.fun reached 624,640 SOL, an amount that currently represents more than 0.1% of Solana’s total supply, or approximately $90 million at current market prices. You know, pump.fun has only been launched for 7 months.
In addition, according to Lookonchain's summary, the pump.fun fee account sold 222,073 SOLs at an average price of $160 in the past 3 months, which was exchanged for 35.54 million USDC.
2.43 million users, with daily active users at a high level of 50,000 to 70,000
@jhackworth’s Dune dashboard data shows that the pump.fun platform has over 2.43 million users as of last count. Over the past three months, the platform has maintained a high daily active user count of 50,000 to 70,000 on most days.
Only 3% of users on pump.fun made more than $1,000 in profit
According to @adam_tehc, if you make more than $1000 in profit, you can rank in the top 3% of the profit rankings.
If you make over $10 million in profits on pump.fun, you are in the top 6 in terms of profits;
If you make more than $1 million in profit on pump.fun, you are in the top 70 in profit (0.0028% of all wallets);
If you make more than $100,000 in profit on pump.fun, you are in the top 924 in profit (0.037% of all wallets);
If you make more than $10,000 in profits on pump.fun, you are among the top 11,936 in profit (0.477% of all wallets);
If you made more than $1000 in profit on pump.fun, you would be in the top 76,587 earners (3.061% of all wallets).
Update: According to Lookonchain, the post about 0.477% of wallets earning more than $10,000 from transactions on pump.fun is inaccurate. The number one address on the list only traded a Meme named HP. Tokens, earn only 4 SOL.
In summary, even though the overall performance of the cryptocurrency market is relatively sluggish and Solana's popularity has declined slightly, pump.fun's user base and activity remain robust. Based on existing data, pump.fun is expected to continue to receive stable fee income as long as pump.fun can continue to maintain user activity.
However, we also need to be clearly aware that there are currently a series of unfavorable factors that cannot be ignored. In particular, the extremely low "graduation rate" of tokens and the sluggish market value growth in the later period, coupled with the unsatisfactory user profitability, these factors have had a significant impact on user confidence. In the short to medium term, this wave of confidence will be directly related to the platform’s user retention rate and new user attraction.
This article is reprinted from Foresight News with permission
Source
