Author: Arain, ChainCatcher
Editor: Marco, ChainCatcher
PumpFun, the leading project of Meme Launchpad, has generated nearly $100 million in revenue in half a year with only a team of three people, and the project has not raised any funds. This business story is so moving that a number of PumpFuns have sprung up like mushrooms after rain. However, none of them has been able to shake PumpFun's position.
On August 13, Tron founder Justin Sun announced his entry into the meme track and launched SunPump, attracting a large number of memes to enter the Tron ecosystem with gas fee reductions, subsidies and incentives. About a week after SunPump went online, on August 22, SunPump announced that its daily revenue exceeded that of PumpFun. Sun Justin said on the X platform that SunPump has reached 30-40% of PumpFun's current traffic.
What factors made Tron choose this time to enter the Meme Launchpad track? Is the emergence of SunPump to increase traffic together with PumpFun, or divert the traffic of PumpFun?
ChainCather had an exclusive conversation with Justin Sun, the founder of Tron and SunPump. He said that the market is currently sluggish, and Meme is one of the few exciting narratives, but the Meme Launchpad track is still a stock game. If you want to bring incremental growth, then the platform needs to have a low enough launch cost, deep enough liquidity, and even trading flexibility.
The following is the full text of the conversation:
ChainCather: Why did you choose to create Meme Launchpad at this time?
Justin Sun: The current market is affected by macro factors, and risk funds are always in a wait-and-see state. Except for the good news that Ethereum ETF has just been approved, which has brought some incremental funds, the rest of the altcoin capital is still in a state of fleeing. As for the wonderful narratives of this round of bull market, the hype has been completed. A large number of project parties failed to achieve subsequent milestones, but because of the poor token economic model, a large number of retail investors suffered losses. In this sluggish market, we chose to ignite the fire of Meme again, and we also want to inject new vitality into the stagnant market through the efforts and drive of TRON. In this situation, there is nothing in this industry that can create exciting narratives in a short period of time.
ChainCather: What do you think are the advantages of SunPump compared to some new Meme Launchpads on the market?
Justin Sun: I think friends who have used SunPump should have a deep feeling. SunPump is a platform focused on the fair issuance and trading of meme coins. It provides creators with a convenient and extremely low-cost way to issue their own meme coins with one click in a secure and user-friendly environment. This innovative platform will increase user engagement and promote a more autonomous trading experience. SunPump combines user-friendliness, fairness and transparency. Its operating mechanism simplifies the issuance and trading of tokens, and users can easily browse and select meme coins on the platform. The joint curve pricing mechanism provides users with a direct and transparent way to purchase tokens. SunPump also provides flexible trading options, allowing users to sell their tokens at any time.
ChainCather: A number of PumpFun competitors are coming. Do you think the new Meme Launchpad will bring incremental growth or stock competition?
Justin Sun: In fact, the logic of this question still needs to focus on the entire market, not a single meme sector. Under the current relatively low investment sentiment, new launchers will only divert existing funds. If latecomers lack continuous economic incentives and innovative gameplay, it will be difficult for them to survive.
If the platform wants to bring in incremental growth, it needs to have a sufficiently low launch cost, sufficiently deep liquidity and even trading flexibility. Looking at the entire industry ecosystem, there are not many teams that can meet all three of the above points at the same time as a launcher.
ChainCather: What do you think is the relationship between SunPump and PumpFun? In addition, what is the biggest difference between SunPump and PumpFun?
Justin Sun: In my opinion, PumpFun is more like a pioneer and a guide for us to build a perfect platform. And from an ecological perspective, I think we are actually two different ecologies, with different underlying infrastructure and business logic. Of course, we do not rule out the possibility of cooperation or even competition in the future.
As for the biggest difference between us, I think we are still latecomers. SunPump relies on the concept of PumpFun and improves the upper-level business logic to maximize the interests of participants and minimize the costs of participants. In other words, compared with Solana, TRON plays a more critical role as the core role of SunPump traffic. Whether it is the Gas fee subsidy plan or the tens of millions of dollars incentive plan, it is not available in the Pumpfun ecosystem.
ChainCather: What is SunPump’s current business goal?
Justin Sun: SunPump’s current business goal is to become the preferred platform for the issuance and trading of Meme coins and to promote the prosperity and development of the Meme ecosystem.
Specifically, it includes the following aspects:
Provide sufficient liquidity support: Relying on Tron's infrastructure, sufficient liquidity is provided for Meme token creators. Tron has a huge user base and efficient asset circulation mechanism, with more than 2 million active users per day and more than 60 billion USDT circulation. It can provide a solid liquidity and traffic foundation for the development of Meme coins.
Create a secure trading environment: Tron's blockchain architecture has the ability to naturally prevent MEV attacks.
Optimize user experience: Design an intuitive and friendly user interface so that both novices and veterans can easily get started; provide 24-hour instant response services to promptly meet users' technical support and problem feedback needs.
Incentives introduced: gas fee subsidy plan, which allows users to cut transaction fees by up to 99%; set up an 888 trx airdrop reward for creators, which can be unlocked when the bonding curve of the Meme coin created by the user reaches 100%.
Promote ecological incentive plan: Join hands with Tron to launch a $10 million Meme ecological incentive plan to provide resources for newly issued tokens.
Provide convenient coin listing services: Provide early-stage projects with a one-click listing plan on exchanges, so that projects that meet the trading volume threshold can be quickly listed on exchanges such as HTX and Poloniex, provide projects with more coin listing channels, and integrate global user resources.
ChainCather: Let’s talk specifically about SunPump’s $10 million Meme ecosystem incentive plan.
Justin Sun: The $10 million Meme Ecosystem Incentive Program is a major initiative launched by SunPump in cooperation with Tron, aimed at vigorously promoting the development of the Meme ecosystem.
First of all, this incentive plan adopts a multi-dimensional evaluation framework. It will comprehensively consider multiple factors to determine the support level for the project, such as market value, user activity, community participation, creativity, and overall influence. Through such comprehensive considerations, it can ensure that those projects with real potential and value will receive key support.
Secondly, the goal of the plan is to strategically allocate the $10 million in funding support to the projects with the greatest potential for success. This will provide a strong financial boost to the development of the Meme Coin project, helping the project owners to increase investment in technology research and development, marketing, community building, etc., and accelerate the growth of the project.
At the same time, the plan also focuses on community-driven growth. By encouraging community members to actively participate in the construction and promotion of the project, a good community ecology is formed to jointly promote the prosperity and development of the Meme coin market.
In addition, the $10 million investment will also attract more developers and creators to join the Meme ecosystem, further enriching and strengthening this ecosystem and providing users with more high-quality Meme coin project options.
ChainCather: Can you share the data of the operation so far? What is your summary and evaluation of the current operation data?
Justin Sun: In the first week of launch, the number of projects created reached 12,528 and the revenue reached 4.36 million TRX, which shows that the platform has achieved good economic benefits in a short period of time.
In a decentralized manner, protocol revenue is used to repurchase and destroy SUN tokens, providing long-term value feedback to protocol participants. This mechanism not only enhances users’ confidence in the platform, but also contributes to the sustainable development of the platform.
We will continue to work hard to optimize platform functions, enhance user experience, strengthen cooperation with partners, and further promote the prosperity and development of the Meme ecosystem. At the same time, we will also pay close attention to market trends and user needs, and constantly adjust and improve our strategies.
