Solana News Today: Pump.fun's Fee Flip Revives Meme Coin Culture on Solana

Pump.fun, a Solana-based token launchpad platform, has emerged as the top revenue-generating application in the cryptocurrency market, surpassing even decentralized exchanges like Hyperliquid over the last 24 hours. According to DeFiLlama data, the platform generated $2.55 million in 24-hour revenue, eclipsing Hyperliquid’s $2.21 million. This marks a significant milestone for Pump.fun, which has now become the highest-earning decentralized application (dApp) in the crypto space, trailing only behind stablecoin issuers like Tether and Circle. The platform’s cumulative revenue has now reached $784.56 million, further solidifying its dominance in the memecoin ecosystem.

Pump.fun’s rise can be attributed to its recent strategic update known as "Project Ascend," which introduces a dynamic fee model designed to incentivize long-term token growth. Under this model, creators receive a percentage of transaction fees that vary depending on the market capitalization of their tokens. For tokens with market caps between $88,000 and $300,000, the creator fee is 0.95% per trade, scaling down to 0.05% for tokens exceeding $20 million in value. This structure aims to reward smaller creators while discouraging speculative "pump-and-dump" behavior. Within 24 hours of implementing the update, creators on the platform earned over $2.4 million, a significant jump from previous earnings under a flat fee model.

The platform’s updated fee structure has also led to a surge in token creation on the Solana network. Over 28,000 tokens were created on Pump.fun in the past 24 hours, according to Dune Analytics, up from approximately 18,446 tokens just days earlier. This increase reflects growing user interest in creating and trading meme coins on the platform. The revival of memecoin activity is further supported by the recent addition of 250 million USDC stablecoins to the Solana network by Circle, enhancing liquidity and trade volume. As a result, the number of SPL tokens created on the network reached 48,081 on Wednesday, the highest since mid-August.

Pump.fun’s native token, PUMP, has also seen a notable price increase, gaining over 10% in 24 hours and more than 32% over the past seven days. This outperformance is attributed to the platform’s aggressive buyback strategy, which has now reached $69.5 million. These buybacks are funded by the platform’s revenue and are intended to stabilize and increase the value of PUMP tokens. Additionally, the number of unique PUMP token holders has grown to 72,082, indicating increased adoption and community support.

The platform’s success is not only limited to financial metrics but also extends to cultural impact. Pump.fun initially gained traction for its simplicity and accessibility in creating memecoins, and its recent updates have further strengthened its appeal. The platform’s focus on creator incentives has resonated with the community, with top streamers like Rasmr reporting substantial increases in earnings. According to Adam Tehc, a Dune dashboard creator, the platform’s improved fee structure is a step in the right direction, fostering a stronger and more sustainable creator economy within the memecoin space.

Source: [1] title1 (https://finance.yahoo.com/news/pump-fun-fee-model-hands-125849600.html) [2] title2 (https://www.fxstreet.com/cryptocurrencies/news/pumpfuns-new-model-revives-the-solana-based-meme-coins-culture-202509040945) [3] title3 (https://crypto.news/pump-fun-flips-hyperliquid-in-24-hour-revenue/) [4] title4 (https://cryptorank.io/news/feed/2b2a8-pump-surges-as-pump-fun-overtakes-hyperliquid-memecore-hits-aths) [5] title5 (https://www.cryptotimes.io/2025/09/04/pumpfun-overtakes-hyperliquid-in-24-hour-revenue-generation/) [6] title6 (https://blockworks.co/news/pumpdotfun-fee-model)