DeFi
Pump.Fun overtakes Uniswap in weekly revenue
Memecoin Launchpad has raised $3.3 million over the past seven days, putting it in second place behind Ethereum.
Pump.Funa memecoin launch platform, has become the second largest revenue-generating platform in DeFi over the past week, surpassed only by the Ethereum network.
Top projects by weekly revenue
The platform allows users to launch a token on Solana or Blast in minutes without any coding experience. During the initial launch phase of a Pump.Fun token, the token will trade along a bonding curve within the platform. When it reaches a particular market capitalization, the liquidity of the bonding curve is transferred to Raydium, where the token begins trading on the open market.
Although major memecoins such as $WIF and $PEPE have been trading lower over the past month, Pump.Fun activity has continued to increase. On 450,000 Unique tokens have launched on the platform since March 1, with some tokens, such as $MICHI and $SC, eclipsing the $100 million market cap level after launching at a market cap of $5,000.
Pump.Fun’s rise to one of DeFi’s top earners is indicative of the memecoin mania that defined 2024.
Its bond curve mechanism acts as “unwavering liquidity” and allows users to speculate on microcap tokens without fear of a malicious developer removing liquidity when launching a traditional token. This significantly improves the user experience of high-risk, high-reward microcap trading.