Solana-Based Memecoin Platform Pump.fun Surpasses Major Networks with $5.3M Daily Revenue

• Solana-based memecoin platform Pump.fun has achieved a record-breaking revenue of $5.3 million in the last 24 hours.
• According to DefiLlama data, Pump.fun has generated more daily revenue than the combined daily revenue of the next 24 highest-grossing protocols.
• Pump.fun has surpassed networks like Ethereum, Tron, and Solana in terms of daily transaction fees and overall revenue.

Pump.fun, a Solana-based memecoin platform, has set a new revenue record by generating $5.3 million in a single day, surpassing major blockchain networks in transaction fees and total income.

Remarkable Revenue Growth for Pump.fun

Pump.fun’s platform revenue model, which involves a 1% fee on all transactions, has yielded extraordinary results. Within the last 24 hours, the platform outperformed major networks like Ethereum and Tron, cementing its place as a key player in the crypto space.

Leveraging Transaction Fees for Revenue

Blockchain analysis firm Lookonchain reports that the Pump.fun account has sold 222,073 Solana (SOL) for approximately 35.54 million USDC over the past three months, achieving a unit sale price of $160. Since its launch in January 2024, Pump.fun has accumulated a total revenue of $89 million from 615,439 SOL.

Responding to Community Criticism with New Models

Initially, Pump.fun allowed users to create new tokens for just $2, a model that attracted criticism for potentially harming the memecoin sector. In response, Pump.fun recently introduced a new model that eliminates the $2 token creation fee for developers. Instead, this fee is now borne by the token’s first buyer. Additionally, if the token progresses through the platform’s bonding curve and migrates to the Solana-based Raydium, developers receive a reward of 0.5 SOL.

Conclusion

Pump.fun’s innovative approach in memecoin creation and its impressive revenue figures exemplify the platform’s growing influence in the crypto market. With its adaptive strategies and responsive models, Pump.fun is likely to continue thriving and potentially setting new standards in the blockchain ecosystem.