NAIROBI (CoinChapter.com) — Pump.fun, a popular Solana-based meme coin platform, has unveiled its newly upgraded trading terminal, Pump Advanced, in an Oct. 19 X Spaces event. The platform, known for facilitating the launch of over 2.5 million meme coins, aims to offer traders a seamless and data-driven experience with the new terminal.
According to the announcement, Pump Advance features mini-charts, data on top holders, and social indicators to help traders sift through the millions of memecoins currently vying for attention. The team also announced 0% fees for the first month and enhanced login security options via Privy.
Pump.fun Teases New Token Launch for Early Adopters
During the session, Pump.fun revealed plans to launch a native token. While no specific timeline was provided, the team confirmed that a portion of the token supply will be airdropped to early adopters as a reward for their support.
Anticipation mounts as Pump.fun teases token launch. Credit: X
“We’re going to reward our earliest users,” the team shared, sparking excitement within the community. Traders speculate the airdrop could boost liquidity, especially if it includes revenue-sharing features.
According to Dune Analytics data, transaction throughput may be high, but over 98.5% of the meme coins deployed on Pump.fun fail to list on Raydium, which is a Solana-based decentralized exchange. To mitigate this, the team launched $80 bonding curve incentives in Aug 2024 to use in persuading developers to complete the capping and listing of tokens.
Vex discusses strategic rewards for Pump.fun’s potential airdrop. Source: X
Airdrop farmer Vex expressed optimism, stating, “If they include revenue sharing, it could be huge.”
Revenue Milestones Amid Concerns
Despite the platform’s challenges, Pump.fun continues to attract high transaction volumes. On Aug. 13, it generated over $5.3 million in revenue, surpassing the combined revenue of the top 24 crypto protocols for that day.
Pump.Fun Daily Active Addresses. Source: Dune Analytics
In Sept. 2024, the platform surpassed $100 million in revenue, making it one of the fastest-growing applications in the crypto industry. On Aug. 13, the platform generated over $5.3 million in revenue, outpacing the combined earnings of the top 24 crypto protocols.
Pump.fun has emerged as a leader in the meme coin sector, allowing anyone to create tokens on Solana’s blockchain. Its rapid growth and innovative features continue to attract traders, even as critics question the sustainability of its model.
As Pump.fun moves forward with its advanced trading terminal and prepares for a token launch, it will need to address ongoing concerns about the high failure rate of token launches to maintain its momentum in the competitive crypto landscape.
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