Pump.fun: Largest memecoin platform announces Token and Airdrop

With 2.5 million memecoins created and nearly $150 million in revenue, Pump.fun is the crypto app of 2024. Now the platform is announcing its own token and airdrop.

At an X-Space on Oct. 19, 2024, the announcement was made, although the exact date of the airdrop and details have not yet been released. What did become clear is that the earliest users will be rewarded, Pump.fun later promised at X: "We will make sure we reward our first users."

Pump.fun, founded in January 2024, has experienced explosive growth. Last month it passed the $100 million mark in revenue, and has already risen to $141 million, an impressive 50 percent growth in just one month.

The concept of Pump.fun is simple: for $2 and one click, you can create a memecoin for the Solana network. According to details of Dune a total of 2.5 million memecoins have been created on the platform. However, only one percent of these projects manage to reach liquidity of $69,000, giving them access to Raydium, Solana's main decentralized exchange.

Despite the small success rate, some projects have become hugely successful. One of this year's biggest hits, Popcat, started on Pump.fun and is currently worth more than $1 billion, surpassing established projects such as Celestia.

Although previous big airdrops were often disappointments due to unrealistic prediction, questionable distributions and a system of wrong incentives, the hype around Pump.fun continues. The platform additionally announced the launch of a new interface: Pump Advanced, which expands trading capabilities with new features.

Pump.fun, however, is not without controversy. The platform has been criticized for unfiltered content, including racism, anti-Semitism, unlimited greed, scams, and "pump-and-dump" practices. The chaos on the site often appears out of control and is not moderated.