Pump.fun reclaims 95% of Solana token graduations
Pump.fun has reclaimed 95% of daily token graduations on the Solana blockchain and now generates roughly $1 million in daily revenue. The platform recovered share after competitors LetsBonk, Believe and Moonshot grew their presence earlier this summer.
Pump.fun’s rebound coincides with “Project Ascend,” a shift to dynamic, market-cap–tiered creator fees and revenue sharing on PumpSwap. Under “Project Ascend”, creator fees on PumpSwap scale by market-cap tiers, ranging from 0.95% for small caps down to 0.05% as tokens grow.
Daily platform revenue has fallen from about $3 million in September to approximately $1 million today. Overall launchpad activity has contracted in recent months. Total launchpad volume across platforms is about $100 million and roughly 100 tokens graduate each day.
Daily platform revenue has fallen from about $3 million in September to approximately $1 million today. Overall launchpad activity has contracted in recent months. Total launchpad volume across platforms is about $100 million and roughly 100 tokens graduate each day.
Token graduation occurs when a newly launched token reaches liquidity thresholds that allow it to move from a launchpad onto larger decentralized exchanges such as Raydium.
Graduation mechanics vary by launchpad. Believe, for instance, promotes tokens once they pass about a $100,000 market-cap threshold and migrates liquidity into Meteora pools, while bonding-curve designs generally auto-seed LP on DEXes at preset caps, reducing early rug risk and smoothing price discovery.
Nevertheless, the question of the sustainability of such platforms remains open. Lawsuits in the U.S. target Pump.fun’s business model, and independent analyses show graduation odds are still “lottery-like.”
Launchpad on another platform to activity is occurring on multiple blockchains. For example, four.meme operates on the BNB Chain, showing that token creation frameworks are being used beyond Solana.
Graduation mechanics vary by launchpad. Believe, for instance, promotes tokens once they pass about a $100,000 market-cap threshold and migrates liquidity into Meteora pools, while bonding-curve designs generally auto-seed LP on DEXes at preset caps, reducing early rug risk and smoothing price discovery.
Nevertheless, the question of the sustainability of such platforms remains open. Lawsuits in the U.S. target Pump.fun’s business model, and independent analyses show graduation odds are still “lottery-like.”
Launchpad on another platform to activity is occurring on multiple blockchains. For example, four.meme operates on the BNB Chain, showing that token creation frameworks are being used beyond Solana.
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