Pump.fun (PUMP): the token of Solana’s memecoin factory
A launchpad that mints coins in seconds, and a token it buys back
Pump.fun is a launchpad on Solana where anyone can create a memecoin in seconds and trade it immediately, and PUMP is the token the platform launched in July 2025. It is both a symbol of the memecoin boom and one of the most disputed services in crypto.
1. Who built it
Pump.fun opened on January 19, 2024. It is run by Baton Corporation, a UK company, and its co-founders are Alon Cohen, Dylan Kerler and Noah Tweedale. At first it was known only as the project of an anonymous developer called ‘Alon’, until public documents identified the founders.
In a public sale on July 12, 2025, 15% of the one trillion PUMP supply sold out in 12 minutes and raised about $600 million; including private sales, the total raised was reported at around $1.3 billion. The maximum supply is one trillion PUMP.
2. How it works: bonding curves and graduation
Creating a coin on Pump.fun costs less than a few dollars. Each new coin first trades only on a bonding curve, an automatic sale formula in which the price rises as more is bought, and the platform calls this a ‘fair launch’ because there is no presale. When a coin reaches a set market value it ‘graduates’ to a regular decentralized exchange.
Graduating coins used to move to Raydium, but since March 2025 they go to PumpSwap, Pump.fun’s own exchange. The platform earns fees on trades and has used that revenue to buy PUMP on the market since July 2025. On April 29, 2026, it said that 50% of all future revenue would fund automatic buybacks and burns, and that the tokens bought back so far would be burned.
3. Ecosystem
Pump.fun was the engine of Solana’s 2024 memecoin boom: more than a million coins had been created there by July 2024. It added livestreams in which creators promote their coins, a mobile app and trading tools, and in 2025 it fought for market share with the rival launchpad LetsBONK.
On the Crypto Nation map, PUMP stands in Solana, where it was issued, alongside memecoins such as FARTCOIN and PNUT that were born and graduated on Pump.fun. A few coins from the platform grew large enough for big exchange listings, but most faded after a brief burst of attention.
4. Things to know
Most coins made on Pump.fun lose their value quickly, and ‘rug pulls’, in which creators sell out and disappear, are common. In November 2024 the platform suspended livestreams after a string of dangerous broadcasts, reopening them with moderation rules in April 2025, and in December 2024 it blocked UK users after a warning from the Financial Conduct Authority.
Since January 2025, US class actions have accused Pump.fun of running what amounts to an illegal casino and of dealing in unregistered securities, and in July 2025 the Solana Foundation, Solana Labs and Jito executives were added as defendants. Critics also say insiders hold a large share of PUMP, and big unlocks such as the one in July 2026 mean buybacks may not offset all the new supply.
Written from information public up to October 2026. It does not recommend or rate any coin and is not investment advice. If something is wrong, please tell us through the contact page.