Main to remember
-
Crimpage in one click, “graduation” of the binding curve and limited concentrated on the LPS, pushing the part of the pump.
-
The launches and costs are cyclical. After plunging 80% compared to the summits of January, the activity was returned at the end of August.
-
Rivals (LetsBonk, Heavendex, Raydium Launchlab) can switch sharing in short term with costs or incentives, but the effects of the network often reduce activity.
-
Security incidents and American disputes of class action (including RICO complaints) are the greatest overhangs on sustainability.
Pump.fun is a launch of Native Solana that makes the launch of a token as simple as a few clicks.
New documents start on a deposit curve contract, where around 800 million tokens are sold in sequence. Once this offer is bought, the “graduate” token and trading automatically moves to an automated market (AMM). Today, this is the decentralized own decent exchange of Pump.fun (Dex), Pumpswap (previous launches have migrated to Raydium).
For creators, the cost is minimal. There is no mint fees and obtaining the diploma contains only a small fixed load of 0.015 Solana (soil) deduces from the liquidity of the token rather than a separate payment.
After obtaining the diploma, the Pompewap burns the liquidity supplier (LP) linked to the trading pair, effectively locking liquidity so that it cannot be removed manually. Funds can only move through regular commercial activity. This design normalizes the early price discovery for new memecoins while greatly reducing traditional risks to the absence of a carpet.
Did you know? Only a tiny pump fraction. In July and August 2025, the diploma rate oscillated approximately 0.7% to 0.8% of launches.
How Pump.fun captured 80% of Solana’s same launches
The domination of Pump.
By transporting new tokens thanks to a graduation of the link curve in an AMM, Pump.fun has made the discovery of early prices more foreseeable and reduces one of the main ways that the creators could be rug. As the cycle of the solea solara resumes, this design resulted in domination: in mid-August 2025, Pump.fun resumed around 73% to 74% of the Launchpad activity over a period of seven days.
The advance was not undisputed. In July, Challenger makes it possible to briefly overturn the pump.
Pump.fun has strengthened its domination with two changes in strategic policy: aggressive redemptions and funded by income from the Pump.fun (pump) token (in a few weeks consuming more than 90% of income) and a renovated program for the payment of creators under “Project Ascend”. Public disclosure indicates weekly several million dollars and complaints from eight -digit creators, which has probably contributed to attracting deployers and recovering momentum.
Throughout 2025, external trackers have constantly shown a pump.
Did you know? Solana’s fees remained close to the money (or even lower) during the mania periods. In the second quarter of 2025, the average costs fell at around $ 0.01, while the median oscillated approximately $ 0.001, despite a January peak during the official Trump (ASSET) Fraction of token.
A quick chronology of sharing and income
-
January 24-26, 2025: Pump.fun reaches a record of daily costs of all time of approximately $ 15.4 million while Solana’s memes season reaches its height.
-
End of January-February. 26, 2025: Daily launches a slide of around 1,200 / day (January 23-24) at around 200 / day by February 26, marking a drop of 80% + based on cohorts drawn by dunes.
-
May 16-17, 2024: An initiate feat of around 1.9 million dollars requires a temporary break; The service resumes after the fixes and a detailed post-mortem.
-
July 2025: The new Rival LetsBonk briefly reaches Pump. Fun in income and market share 24 hours a day – the first significant flip since Pump.fun’s Breakout.
-
August 8, 2025: Pump.fun launches the “Glass Full Foundation” to support the lists selected during a income crisis.
-
August 11-21, 2025: The market share bounces at around 74% over seven days, reaching a record week of $ 13.5 million and weekly volumes of several billion dollars. Some trackers have intrajournnal heights almost 90% while competitors fade.
-
August 20, 2025: Cumulative costs exceed $ 800 million, highlighting the extent of the pump model. Despite volatility.
-
September 2025: As part of the Ascend project, the creators demand more than $ 16 million, while the team continues aggressive redemptions – largely credited to restore traction.
The domination of Pump.fun is cyclical but resilient. When the feeling is weakening, the launches and the costs drop strongly. When incentives and liquidity improves, its share tends to bounce – often landing in the beach from 70% to 80% on seven -day metrics.
Rivals and “anti-pump” terrain
Competitors tried to compete in the economy and liquidity. As indicated above, LetsBonk briefly stole the spotlight in July, some trackers showing him in advance in terms of market before Pump. The coverage described it as a pump. “Repulsive” a credible challenge.
Raydium Launchlab positioned itself as the internal alternative after the pump. Mount has arrested the diploma pools at Raydium and introduced Pumpswap. Launchlab has exploited the native Raydium liquidity infrastructure – migrate new tokens directly into the Raydium AM pools – to attract creators and algorithmic traders in search of deep and established liquidity.
A more recent challenger, Heaven (Heavendex), introduced a “giving” model that burns 100% of the platform income and, for stretching, managed about 15% of the daily launch activity. He positioned himself as the strongest rival of the pump model.
In the end, switching costs are low. The deployers move to the place which offers the best mixture of costs, incentives and post-diploma liquidity. When competitors reduce costs or increase the awards, the market share can change quickly.
Security, legal risk and market cycles
Pump.fun faced his share of challenges.
Security incidents
Pump.fun had notable security incidents. In May 2024, a former employee operated privileged access to withdraw approximately $ 1.9 million, which sparked temporary negotiation stop and the redeployment of contracts, the team indicating that the contracts had remained safe. On February 26, 2025, his official X account was diverted to promote a false “pump” token – a reminder of social engineering vulnerabilities in the same platforms.
Legal overhang
Several American civil shares allege that Pump.fun has facilitated the sale of unregistered securities. A consolidated modified complaint filed in July 2025 added complaints Rico (Racket Influency and Corrupt Organizations) and new defendants. The results remain uncertain, but the dispute could reshape the way in which the lists of approach lists, disclosure and income programs.
Cyclical request
As discussed, launch counts and costs of the costs reflect the appetite for retail risks. After a strong beginning of 2025, the revenues of July fell at around 25 million dollars, or about 80% below the peak of January, before the activity resumed later in summer. Interest in mecoins varies naturally over time.
REPUTATION RISK
The even examination of the same as a pump and dump parts has not faded. In a case, the pirate X account of a wired journalist was used to create a pump token and a rest in a few minutes – adding pressure on the platforms to improve account safety, tighten verification and discourage opportunistic launches.
Did you know? A compliance company claimed About 98% at 99% of the pump.
Can PUMP.Fun keep its edge?
If the steering wheel holds
The August rebound in Pump. Fun at around three quarters of the New Solana launches suggests that the basic loop – a low friction, a normalized “graduation” liquidity and a trader concentration – is always intact. If the buyouts and incentives of the creator continue to strengthen this cycle, domination could persist even through slower phases.
If the handle slides
July has shown how fast the momentum can change when a rival undermines the costs or attracts deployment bots. The current dispute adds another layer of uncertainty and could trigger changes in lists, disclosure or income programs.
Key measures to monitor
-
Launchpad Share (weekly): Follow the share of the pump. A stable fork of 65% to 80% suggests that its moats hold; Coherent falls point to erosion.
-
Incentive buyout and expenses: Watch the weekly buyouts and creators’ payments. Supported and visible support often precedes recovering market share.
-
Costs and graduation policy: Any adjustment of the creation or graduation costs – or how the liquidity is managed – can quickly modify the behavior of the deployer.
-
Solana Tearte: Keep an eye on the volume dex and the total locked value (TVL). The thinner liquidity reduces post-gradation depth and adhesion of traders.
-
Legal milestones: Follow developments in the consolidated collective recourse. Disapporable decisions could limit growth levers or trigger operational changes.
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.
