PUMP.FUN (https://pump.fun/board) is an innovative platform designed for Memecoin creators and traders, simplifying the token creation and trading process. Users only need to pay a fee of 0.02 SOL, enter the token name, and upload an image to easily publish a new token. Other users can buy and sell these tokens on the pricing curve, creating a fair starting market environment. When the token's market cap reaches $69k, the platform will automatically inject liquidity into Raydium and burn it to ensure safety and liquidity. Moreover, creators who complete the bonding curve will also receive a reward of 0.5 SOL.
1. Features of PumpFun
Low cost: Only 0.02 SOL (less than $2) is needed to issue a token.
No need to create liquidity: When the market cap reaches $69,000, the platform automatically creates a liquidity pool on the DEX.
Process automation: Automatically goes online for trading after reaching the market cap, no manual operation required.
Fair launch: No token reserves, no taxes, full abandonment of rights, tokens are directly circulated publicly.
Standard contract: Uses the Solana standard SPL contract, with a total issuance of 1 billion for all memecoins.
Pumpfun lowers the threshold for token creation, making token issuance simpler and more convenient.
2. How to publish
The steps to publish a token on the PUMP.FUN platform are as follows:
Choose a unique token name (Name) and symbol (Ticker).
Write a simple description for the token.
Upload an image or video of the token.
Optional: Add social media links (such as Twitter, Telegram, website).
Enter the quantity you want to purchase (creators can prioritize purchasing some).
Pay a creation fee of 0.02 SOL and the cost of the purchased tokens.
After completing the above steps, the token will automatically go online on PUMP.FUN's internal market, automatically pricing along the bonding curve. Users can buy and sell tokens at any time in the internal market, and the bonding curve ensures that as purchase volume increases, prices rise, thus providing liquidity without the creator manually building a pool. When the market cap reaches $69,000, the platform automatically deposits liquidity into Raydium, further expanding market trading depth.
3. PUMP.FUN's pricing formula
Through front-end code analysis, we can see that PUMP.FUN's pricing system has set up a pre-virtual pool called virtualSolReserves. This virtual pool initially contains 30 SOL and 1,073,000,191 tokens, and its pricing formula follows the constant product rule of x * y = k. After data fitting calculations, the initial k value is 32,190,005,730, and the initial price of each token is approximately 0.000000028 SOL.
The pricing formula is as follows: y = 1073000191 - 32190005730/(30+x)
4. Pricing Curve
PUMP.FUN's token pricing system uses a smooth bonding curve, and the total supply of all Memecoins on PUMP.FUN is fixed at 1 billion, sharing the same economic model. Users can mint some tokens at a reasonable price through the bonding curve, and the remaining tokens and raised funds will form the liquidity pool (LP).
The joint curve pricing function is y = 1073000191 - 32190005730/(30+x), where x is the amount of $SOL purchased, and y is the corresponding number of tokens obtained. Deriving can yield the price of each token. Below is the function curve, with blue representing the pricing curve and red representing the price curve.
Where x is the amount of SOL purchased by the user, and y is the number of tokens obtained. As x increases, the number of tokens decreases and the price rises. The initial price of the bonding curve is steep, suitable for the high volatility characteristics of Memecoin, allowing early users to enjoy lower prices, while prices gradually stabilize and rise with increased purchases. This model provides incentives for early investors while ensuring the liquidity of the tokens.
PUMP.FUN's bonding curve provides a fair and transparent price growth mechanism, ensuring supply-demand balance for all tokens under a fixed total volume, simplifying the issuance process while providing continuous liquidity for users, enhancing the platform's attractiveness and participation.
5. The token release and fundraising process of PUMP.FUN
The total issuance of tokens on Pumpfun is 1 billion, with 6 decimal places, and the automatic burning of LP and the complete abandonment of contract rights after a successful launch.
User fundraising and token distribution
Users raised 85 SOL through buying and selling operations on the PUMP.FUN platform, exchanging for 800 million Memecoin tokens.
Establishment of the initial liquidity pool
Of the 85 SOL raised, 79 SOL was used for the initial liquidity pool (6 SOL as a listing fee). An additional 200 million tokens were added to the Raydium liquidity pool alongside the 79 SOL, bringing the final total supply of tokens to 1 billion.
Price and market cap after listing on Raydium
The price of each token when it goes online on Raydium is 0.00000041 SOL, which is 14.64 times the initial virtual pool price, and the market cap at the moment of listing reaches 410 SOL.
Token creation costs and platform fees
Create a token for 0.02 SOL. If the token is successfully launched on Raydium, Pumpfun will reward the issuer with 0.5 SOL.
During the fundraising process, the PUMP.FUN platform charges a 1% transaction fee.
When the token goes online in the Raydium liquidity pool, the platform charges6 SOL as a listing fee to support the liquidity pool's configuration.
The entire process design of PUMP.FUN is transparent, decentralized, and has a reasonable fee structure, providing strong support for the public circulation and liquidity of token projects.
6. King of the Hill
On the PUMP.FUN platform, 'King of the Hill' is an incentive mechanism designed to provide free marketing for tokens. Simply raise your token's market value to about $30,000 to have a chance to replace the current 'King'. Once you become the king, your token will be prominently displayed at the top of the PUMP.FUN homepage for all users to see.
This significant exposure is equivalent to free promotion, attracting more attention and trading, helping the token grow.
7. Terminal
Users can sort and filter market information in various ways to easily find and follow different tokens and activities.
Sorting options:
Featured: Default sorting method, showcasing selected or popular content.
Bump Order: Sorted by the latest interactions, i.e., the most recently replied or traded content is listed first.
Creation Time: Sorted by the token creation time, with newer tokens displayed first.
Last Reply: Sorted by the latest reply time, making it convenient to view tokens that have recent discussions.
Currently Live: Only shows information about tokens that are currently being live streamed, making it easy to view real-time activities.
Market Cap: Sorted by market cap, making it easy to focus on projects with higher market caps.
Other options:
Show Animations: Toggle to control whether to display animation effects, such as the bouncing 'pump' effect.
Include NSFW: Toggle to control whether to display NSFW (Not Safe For Work) content.
Project List:
The token project list is displayed at the bottom of the Terminal page, including information about the token's creator, current market cap, and number of replies, allowing users to quickly understand the basic situation of each project.
Through these options, users can adjust views and filtering methods according to their needs, quickly finding tokens they are interested in or viewing the latest market dynamics.
8. PUMP.FUN Market Dynamic Mechanism
When a single purchase amount exceeds 0.01 SOL, the token has a chance to appear on the market homepage, accompanied by a bouncing (pump) effect. This design not only increases the token's exposure but also attracts more user attention and participation, further stimulating market activity.
9. PUMP.FUN Live
The live broadcast function of PUMP.FUN has now been upgraded to 'Stages,' opening up a new interactive mode:
Multi-user live streaming: Multiple users can stream simultaneously;
Screen sharing: Real-time screen content can be shared during the live stream;
Voice chat: Supports voice interaction between the audience and the streamer;
More interactive features: Bringing a richer real-time communication experience.
Users can conduct real-time interactions on the platform through multi-user live streaming, screen sharing, and voice chat functions, making it very suitable for project presentations, community interactions, and market promotion activities. This function not only enhances communication between token issuers and investors but also provides a platform for project parties to showcase and promote their projects, allowing the audience to understand the project more intuitively, enhancing market participation and trust.
10. Following
Primarily used to help users track and interact with projects of interest and the trading dynamics of other users
People You May Know
The page provides a list of recommended 'people you may know,' all of whom have a significant number of followers. Users can click the 'Follow' button to follow them, allowing for better tracking of these users' trading activities and projects they participate in.
The number of followers of recommended users is displayed below their avatars, for example, 'dumbasss' has 1887 followers, and 'im_in_buy' has 1609 followers.
Trading dynamic stream
The bottom of the page displays real-time trading dynamics, showing users' recent buy or sell operations. For example, the user 'orcACR' bought 2.0000 SOL of AiCorn tokens or sold 0.2114 SOL of AiCorn tokens.
Each transaction record displays the token's Ticker (e.g., AiCorn, DIXI, KALES) and a brief description of the token.
Through this real-time dynamic stream, users can understand the trading situation of tokens they are interested in and the operations of other users in the market.
The Following page of PUMP.FUN is designed to help users easily follow market dynamics, track influential users and popular tokens, providing an environment conducive to social interaction and information acquisition. By recommending users to follow and providing real-time trading dynamics, users can quickly understand market trends and make trading decisions.
11. The trading and interactive interface of tokens on the PUMP.FUN platform
The trading and interactive interface of tokens on the PUMP.FUN platform, which includes the following main components:
Top information bar
Displays basic market data for the token, such as market cap and contract address. Provides a quick copy address function for user convenience.
Price chart
Occupying the center of the page, displaying the real-time price trend of the token. The chart supports time period selection (e.g., 1 minute, 5 minutes, etc.) and technical indicators, helping users analyze market dynamics and price trends.
Trading operation area
Located on the right side of the page, containing Buy and Sell buttons, allowing users to choose to buy or sell tokens.
Provides an input box for users to set the trading amount (priced in SOL), along with quick select buttons (e.g., 0.1 SOL, 0.5 SOL, 1 SOL) and slippage settings to simplify the trading process.
The place trade button is used to confirm the trade, and there is also an 'add comment' option to add remarks.
Discussion Area (Thread)
This area displays comments and interactions from users. Users can view others' comments here, share their views, and communicate with developers or other users.
Comments are arranged in chronological order, with each comment displaying the username and timestamp, making it easy to track the latest developments in the discussion.
Bonding Curve Progress
Displays the progress percentage of the bonding curve, indicating the current market liquidity situation of the token.
Provides an explanation that when the bonding curve reaches a certain progress, liquidity will be injected into Raydium and burned.
The current liquidity and the remaining number of tokens are also displayed in this area, helping users understand the supply and demand situation of the token.
King of the Hill Progress
Displays the current progress of the token in the King of the Hill competition in a progress bar format, making it easy for users to understand the token's ranking and whether it is close to king status.
Reminds users that they can replace the current King after reaching a certain market cap, adding to the fun of competition and interaction.
Holder Distribution
Displays the distribution of token holders, listing the proportions of major holders.
Provides the 'Generate bubble map' function, visualizing the distribution of holders, helping users understand the concentration and dispersion of tokens.
Status online on Raydium
12. Bubble Map
The Bubble Map holding distribution chart of the PUMP.FUN platform, used to visualize the distribution of token holders.
Bubble distribution map
Each circular bubble represents a wallet address, and the size of the bubble reflects the number of tokens held by that address, with larger bubbles representing addresses with more holdings.
The distance and position between bubbles show the concentration and dispersion of tokens, helping users understand the concentration of token holdings.
Color and connections
Bubbles of different colors may represent different types or categories of holdings (such as bonding curves, liquidity providers, etc.), helping to quickly distinguish between holding structures.
Green bubbles are connected to other bubbles, indicating the relevance or trading relationship of specific holding addresses.
Under the significant transformation of the market, we are at the beginning of a new cycle. Every market upheaval brings new opportunities and challenges. Traditional ways of thinking are increasingly unable to adapt to today's rapidly developing crypto market, and Memecoin is an important force in this transformation. Understanding and embracing Memecoin is not just about chasing trends; it is an inevitable choice to keep pace with the times.
PUMP.FUN, as a pioneer platform in the Memecoin ecosystem, provides users with low-threshold token issuance and rich trading experiences. It not only brings a new social trading model but also redefines the role of community consensus in the market. By deeply understanding and utilizing PUMP.FUN, we can better adapt to this emerging market ecology, seize opportunities, and embrace the future of Memecoin together.
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Article sponsored by SlerfTools, please indicate the source when reprinting.
SlerfTools is a toolbox designed specifically for Solana, aimed at simplifying blockchain operations and providing a no-code visual interface, making complex processes such as issuing tokens, managing liquidity, and creating Dapps without code safe and simple. SlerfTools allows users to buy while Pump opens, creating extremely high opening heat (Fomo) through up to 16 independent addresses buying simultaneously.
