For a long time, Internet culture and Meme have always occupied an important position in the field of cryptocurrency. "Value investment is a waste" is also a high-level summary of the market's enthusiasm for Meme hype this time.

Solana is indispensable when it comes to Meme. Since last year's Silly, Solana has been full of Meme God disks, including the hat dog WIF that has become popular all over the Internet, BOME that started the trend of "pre-sale payment", and SLERF that "resurrected from the dead".

The world of Meme is never short of entertainment. Recently, a platform with the domain name "fun" - Pump.fun has attracted a lot of attention in the crypto community. Even American professional poker player Tom Dwan mentioned Pump.fun in a tweet, suggesting that he is interested in Pump.fun's gambling entertainment.

As a platform dedicated to hyping Meme, Pump.fun was originally launched for Solana. On this platform, people can deploy tokens at a cost price of less than $2. At present, Pump.fun may already be the Memecoin platform with the largest flow on the Solana ecosystem, and has added support for Ethereum L2 Blast.

Pump.fun may integrate Meme hype demand

Due to the extremely low cost of launching Meme, a large number of new trading pairs are listed on decentralized exchanges every day, making it a fast-paced field. But because of this, the average lifespan of most Meme projects is often 24 hours or even shorter, mainly because bad actors try to take advantage of this craze and deceive ambitious and unsuspecting investors through carefully planned scams and marketing.

The "Meme pre-sale fever" previously brought by BOME is a good example. The god disk BOME achieved a 50-fold increase in a single day, and set off waves of pre-sale crazes in the crypto community within a week, and even spread from the Solana chain to other public chains. However, most pre-sale projects have a rug phenomenon. Among them, after the Avalanche fundraising project Sener raised about 93,000 AVAX (about 4.8 million US dollars), the founder transferred a large amount of AVAX away, and the project token SENDER only opened slightly higher and then directly entered the stage of full selling.

Related reading: "Chaos is frequent, projects are running away, and the "pre-sale money" model has come to an end"

Similar examples are numerous. According to ZachXBT statistics, only 27 Solana chain pre-sale projects raised more than 655,000 SOL (more than 114 million US dollars). In this regard, Solana co-founder Anatoly Yakovenko called for an end to the payment of money to pre-sale projects.

But even so, the fanatical crypto world will continue to pursue the next 100x password, and the community's enthusiasm for participating in Meme will continue to increase. The transaction process of Meme is generally that people first discover Meme coins, then check all its details on Birdeye or DEXscreener, and then trade on Jupiter. For many early Meme coins, wallets do not even have basic support. At present, a DEX suitable for Meme coins is Raydium, but the experience is not optimal.

People want to simply make a website like Birdeye, but specifically for Meme coins, more social, where big V bloggers can also praise each other and copy trades, pump.fun meets the needs of Meme lovers

Why is Pump.fun outstanding?

Click on Pump.funofficial website is the feeling of Meme coming at you, the transaction records at the top are constantly flashing, and the latest released Meme displayed at the bottom of the page is also updated in a catapult manner. Due to the high frequency of transactions and deployments, the entire page is shaking like an aftershock, which can be described as "abstract". Many users said that the website page "hurts their eyes".

Clicking on the "how it works" option, there is only a card with 5 sentences, which introduces the core transaction process of the entire platform. But this is actually more in line with the magical and fanatical labels of Meme. The crazier it is, the more likely it is to attract attention and build consensus.

But Pump.fun is a platform that serves Memes after all. Each Meme below clearly states the basic information such as the creator, market value, number of comments, narrative, etc. You can select any Meme to view the detailed information of the coin and start trading.

God-level projects frequently appear

The first meme deployed on Pump.fun was TEST, and it was TEST that made Pump.fun earn more than $5 million and officially entered the community's vision.

It is reported that TEST was created by the Pump.fun development team. On April 5, a developer wrote a script to obtain the first batch of tokens deployed through the Pump.fun smart contract, including TEST.

Because TEST was deployed too early and could not be purchased through the pump.fun website, many people believed that TEST could not be purchased. At this time, a community member used the request interception tool to find a way to buy TEST, and then some buyers used this tool to spend 100 SOL to buy nearly 50% of the TEST supply. Due to the serious imbalance in supply, the price of TEST rose sharply.

But the rise of TEST did not last long. Early buyers were not willing to hold TEST for a long time. After TEST rose, they withdrew one after another, and the price of TEST fell. As early buyers have withdrawn more than 90% of their positions, the distribution of TEST has gradually become healthy.

Subsequently, community members contacted the pump.fun developers and confirmed that TEST was a meme deployed by the pump.fun team, and reported the matter in the community telegram channel. After the news spread, a large number of traders flocked to pump.fun, bringing it more than 5 million US dollars in revenue, and the community also spread rumors that the pump.fun team had completed a large-scale fundraising.

Pump.fun daily income, source: The Block

The popularity of pump.fun has also brought a lot of popular memes, such as bert, which has increased tenfold within 15 minutes after opening; WEI's background is an AI-generated girl's self-introduction, saying that she likes the solana ecosystem very much, which is very abstract. The increase tripled in half an hour, but unfortunately these memes will return to zero before a day.

The most noteworthy meme is SC, which has increased more than 100 times in just 5 days after opening and is known as the most successful meme on Pump. According to Lookonchain monitoring, a trader spent 6.6 SOL to buy 33.6 million SCs 5 hours after the opening. When the profit exceeded 1,000 times, he only sold 4.6 million SCs to get 768 SOLs (US$145,000). He still holds 29 million SCs, which are now worth US$2 million, with a profit of 1,730 times. In addition, SC is also one of the very few Meme coins on the platform that has no PVP. As of writing, the market value of SC is US$97 million.

Productizing Meme

Although the website content is relatively simple and the introduction is only a few sentences, the platform's coin issuance function is relatively complete until the subsequent listing on the exchange.

For the traditional coin issuance process, it is necessary to consider the expensive setup fees and the need for a large amount of liquidity seeding, which can lead to high costs. But at pump.fun, users can automatically deploy a token in a short period of time at a cost of less than $2

Most importantly, pump.fun aims to prevent the rugged behavior of meme coin issuance. Traditional coin issuance is complex and risky. After all, pre-sales are susceptible to scams and require advanced tools to monitor behaviors such as giving up the right to mint tokens.

In response, pump.fun provides an alternative to the existing coin issuance model, which usually follows the following two paths. Either deploy the token directly and establish liquidity on DEXs such as Raydium, then give up the right to mint, lock or destroy the liquidity provider tokens, or conduct a pre-sale, where participants send funds to an address without immediate return.

Because it is fair to the maximum extent, there is no team allocation, and there is no "rat warehouse" that many retail investors hate. It is similar to the SLERF that burned all the private SOL in the pool some time ago. It can be said to be "the people's Meme". Users who deploy tokens can build their own communities. In a word, pump.fun productizes what the Meme team wants to do, and provides one-stop service from token name, logo to liquidity and liquidity destruction.

When a Meme is successfully deployed on Solana, once the token market value reaches $69,000, $12,000 of liquidity will be deposited into Raydium on the Solana chain and automatically destroyed. The market value requirement on the Blast chain will be higher, at $420,000, of which $30,000 of liquidity will be deposited into Thruster DEX. When the market value reaches a certain amount, pump.fun's liquidity will be automatically added to Raydium.

While pump.fun's productized services do simplify the process of Meme's coin issuance, it is not easy to actually get listed on Raydium or Thruster DEX. Community members deployed 182 Memes using pump.fun, and only 37 were successfully listed on Raydium, with a success rate of about 20%. But even so, @Sartoshi0x still made more than $640,000 in profits in the process.

How to send a meme in pump.fun

Before deployment, you can save 0.05 SOL in the wallet, enter the project website and click the upper right corner to connect the wallet.

After connecting to the wallet, click "start a new coin" in the center of the homepage, go to the deployment interface to enter information, write name (creator name), ticker (Meme coin name), description (narrative of the Meme coin) in turn, select a picture, and finally click "Create coin" to create a Meme.

Then it will show whether you want to buy the meme you deployed in advance. Pre-purchase can prevent robots from sniping tokens. Purchase is optional and there is no mandatory requirement. The deployment cost is 0.02SOL, which is a fee that must be paid. After paying the fee, the deployment is completed.

Pump.fun provides an alternative to existing token issuance, and has won the public's attention with its ultra-low-cost coin issuance and high degree of automation. However, just like @Sartoshi0x can easily deploy hundreds of memes, it is difficult to imagine the subsequent maintenance and operation process. Some communities also say that this looks like "scam behavior." But what is certain is that on pump.fun, @Sartoshi0x is by no means the only player who uses coin issuance to make high profits.

Moreover, a prominent problem of Pump.fun is the serious PVP phenomenon. A small number of people who participated in the presale got most of the chips, and generally there would be a 50%-90% retracement after the opening of trading. Although the token’s opening price rose too much, which would result in no new users daring to buy the token, there were also many users who bought in at the very early stage of the opening and made a lot of profits.

From this point of view, it is not surprising if there are bots in the market that automatically monitor projects that are about to be launched on DEX. Of course, risks and benefits coexist. Since there are bots specializing in hard caps, there will definitely be "games" targeting bots. Meme hype is always a high-risk game. At present, Pump.fun is still a relatively early platform. Whether it can bring enough surprises to Meme enthusiasts in the future will be left to the test of time. BlockBeats hereby reminds readers that Meme liquidity fluctuates greatly, so pay attention to identifying risks.

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