Pump.fun

PUMP is the token of Pump.fun, a Solana platform for launching and trading memecoins.

Pump.fun is a website and app on the Solana blockchain where anyone can create a new coin in one click and trade it straight away. It launched in January 2024. Most coins created there are memecoins: jokey tokens with no business or asset behind them. Its own terms warn that their value can swing sharply and that there is a material risk of loss.

A new coin first trades on a bonding curve, a pricing formula in Pump.fun's program. If enough people buy, the coin 'graduates' to PumpSwap, Pump.fun's own exchange pool. Pump.fun charges 1.25% on bonding-curve trades, of which 0.95% goes to the platform and 0.30% to the coin's creator, and smaller fees on PumpSwap trades. Over the past year DefiLlama counted about $460 million of revenue for the platform.

PUMP is the platform's own token. It was sold on 12 July 2025 at $0.004 per token, a $4 billion valuation for the fixed supply of 1 trillion tokens, and the sale closed in about 12 minutes. The team received 20% and earlier investors 13%. PUMP gives no vote, no staking and, in Pump.fun's words, no right to revenues. Instead, Pump.fun says half of every dollar it earns buys PUMP on the market and burns it; by 27 September 2026 it reported $465 million spent and about 16.8% of the supply burned.

Pump.fun is run by a company, Baton Corporation, Ltd., not by token holders. It has faced serious problems: a former employee drained about $1.9 million in May 2024, the UK regulator FCA warned in December 2024 that it may be offering financial services without permission, and US class actions accuse it of running an illegal 'digital casino'. In August 2026 a US judge let racketeering (RICO) claims go forward; they remain unproven allegations.