Solana News Today: Pump.fun Rewrites Meme Coin Rules with Revenue Surge and Sustainable Model

Pump.fun, a Solana-based platform for creating and trading memecoins, has recently recorded a 24-hour fee revenue of $2.55 million, outperforming Hyperliquid, which generated $2.23 million during the same period. This makes Pump.fun the highest-grossing application in the cryptocurrency space, trailing only behind stablecoin issuers like Tether and Circle [4]. The milestone comes amid a series of strategic updates and expansions by Pump.fun aimed at fostering long-term sustainability for token creators and the broader ecosystem.

Central to Pump.fun’s recent growth is its “Project Ascend” initiative, which overhauls its creator fee structure through a dynamic, tiered system. The new model, known as Dynamic Fees V1, scales creator fees based on a token’s market capitalization. As tokens mature and their market cap increases, the fees applied to them decrease. This approach aims to reduce the incentive for short-lived token launches, which are often driven by speculative trading, and instead encourage the development of more sustainable and community-driven projects. The system is expected to make launching new tokens “10x more rewarding” while allowing successful projects to scale without excessive costs [1].

The update has already shown positive market reactions, with Pump.fun’s native token, PUMP, surging more than 10% following the announcement. Analysts suggest that the platform’s updated fee model could attract a broader range of participants, including streamers and startups, by aligning the interests of creators with their communities. The initiative also includes faster processing for community takeovers of inactive tokens, giving active builders a clearer path to long-term sustainability [1].

Pump.fun has further strengthened its position in the Solana ecosystem by acquiring Kolscan, a wallet-tracking tool, and launching a public token sale aimed at raising up to $600 million. The platform also introduced a real-time revenue dashboard, revealing $58 million in token buybacks to date, equivalent to offsetting 4.26% of the circulating supply. In parallel, Pump.fun launched the Glass Full Foundation, a liquidity fund supporting promising community-driven projects. These moves underscore the platform’s broader ambitions to go beyond memecoin creation and establish itself as a hub for innovation in decentralized finance (DeFi) [1].

Pump.fun’s success is further supported by its robust trading volume and market metrics. As of the latest data, the platform’s native token PUMP ranks in the top 5 for daily trading volume among Solana-based assets, with a 24-hour trading volume of $501.23 million and a 7-day volume of $3.23 billion. The token’s market cap stands at $1.41 billion, and while it remains 43% below its all-time high of $0.0068, it has shown a 11% daily increase in price [2].

The platform’s recent performance is also a notable shift in the competitive landscape of DeFi and trading platforms. Hyperliquid, a leading decentralized exchange for perpetual futures, has long been a dominant player, particularly in the derivatives market. It recently surpassed DeFi rivals and traditional centralized exchanges in trading volumes, capturing roughly 9–11% of global BTC and ETH perpetual trading volume. Hyperliquid’s token, HYPE, has a market cap of nearly $12 billion and is currently trading at significant discounts to Solana and Ethereum on a fully diluted basis. However, Pump.fun’s ability to generate higher daily fees in a shorter timeframe signals a rapidly evolving market dynamic [3].

Pump.fun’s strategic approach to fee modeling and ecosystem development reflects a broader trend in the crypto industry toward more sustainable and community-driven models. Unlike traditional venture capital-backed projects, Pump.fun has prioritized early user airdrops, buybacks, and liquidity injection to create a flywheel effect that benefits both creators and investors. This model is seen as a departure from the speculative nature of earlier memecoin trends and aligns more closely with the principles of decentralized governance and long-term value creation.

While Pump.fun and Hyperliquid represent different segments of the crypto market—Pump.fun in memecoin creation and Hyperliquid in derivatives—both platforms are reshaping the industry’s structure through innovative tokenomics and user-centric strategies. As these platforms continue to evolve, they will likely face increased competition from traditional exchanges like Coinbase and Robinhood, which are expanding their offerings in the derivatives space. However, their agility and focus on user experience position them as key players in the next phase of crypto innovation [3].

Source:

[1] Solana Meme Coin Launchpad Pump.fun Rolls Out “Project ... (https://finance.yahoo.com/news/solana-meme-coin-launchpad-pump-214916758.html)

[2] Pump.fun Price, PUMP Price, Live Charts, and Marketcap (https://www.coinbase.com/price/pump-fun-solana)

[3] Hyperliquid Outpaces Ethereum and Solana in Revenues (https://cryptopotato.com/hyperliquid-outpaces-ethereum-and-solana-in-revenues-but-hype-trades-at-a-massive-discount/)

[4] pump.fun's revenue in the past 24 hours reached 2.55 ... (https://www.chaincatcher.com/en/article/2203160)