**Pump.fun** is a [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) platform for creating and trading [memecoins](https://iq.wiki/wiki/memecoins). Launched in January 2024, it uses the [Solana](https://iq.wiki/wiki/solana) and [Blast](https://iq.wiki/wiki/blast) networks for fast and low-fee transactions.[\[1\]](#cite-id-qqk97ca3yze)  
  
# $$widget0 [YOUTUBE@VID](eFpkXD11lIw)$$  
  
# Overview  
  
Pump.fun is a [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) platform launched in January 2024, focusing on the creation and trading of memecoins. It leverages the [Solana](https://iq.wiki/wiki/solana) and [Blast](https://iq.wiki/wiki/blast) networks to offer rapid transactions and minimal fees. The platform allows users to create and trade tokens instantly without the need for seed liquidity, making it accessible and cost-effective for a broad audience.[\[1\]](#cite-id-qqk97ca3yze)  
  
On July 1, 2024, Pump.fun’s cumulative revenue crossed $50 million according to [DefiLlama](https://iq.wiki/wiki/defillama) data. As of July 2024, over 1.18 million memecoins have been deployed via pump.fun, according to data from Dune Analytics. [\[12\]](#cite-id-xe36n67esef)[\[13\]](#cite-id-ggp05l85nx)  
  
## Key Features  
  
* **Instant Token Creation**: Users can create and launch new tokens with a few clicks, specifying the token's name, ticker, and image.  
* **Bonding Curve Pricing**: The platform employs a [bonding curve](https://iq.wiki/wiki/bonding-curve) model, where token prices increase as more tokens are purchased.  
* **No Presales or Team Allocations**: To mitigate the risk of rug pulls, every token on Pump.fun is launched fairly without presales or team allocations.  
* **Low Cost**: Creating a token costs less than $2, making it affordable for individual users and small groups. [\[3\]](#cite-id-wh678jchat)  
<br>  
  
Pump.fun operates by allowing users to deploy tokens that are immediately tradable. The platform supports transactions on both [Solana](https://iq.wiki/wiki/solana) and the [Ethereum](https://iq.wiki/wiki/ethereum) [Layer 2](https://iq.wiki/wiki/layer-2) network, [Blast](https://iq.wiki/wiki/blast). When a token's [market capitalization](https://iq.wiki/wiki/market-capitalization) reaches a certain threshold, liquidity is deposited to a [decentralized exchange](https://iq.wiki/wiki/decentralized-exchange) and [burned](https://iq.wiki/wiki/token-burn) to ensure stability and trust.  
  
Creating a token on Pump.fun incurs a minimal cost of under $2. This low barrier to entry encourages widespread participation and experimentation in the creation of memecoins. [\[2\]](#cite-id-ttapfbf3gb)  
  
After deployment, tokens can be traded on Pump.fun using its [bonding curve](https://iq.wiki/wiki/bonding-curve) system. As the number of tokens purchased increases, so does the price, encouraging early adoption and trading activity. Liquidity management and price stability are achieved through automatic mechanisms once the [market capitalization](https://iq.wiki/wiki/market-capitalization) target of $69,000 is hit. [\[3\]](#cite-id-wh678jchat)[\[5\]](#cite-id-4ms2nquunlj)  
  
As of June 2024, some [memecoins](https://iq.wiki/wiki/memecoins) that achieved the marketcap goal include BaoBaoSol ($BAOS), Hobbes ($HOBBES), and Shark Cat ($SC). [\[9\]](#cite-id-gbqmxpzbkr4)[\[10\]](#cite-id-fey9e2uetfn)  
  
## Notable Memecoins  
  
1. michi ($michi)  
    * Maximum Market Capitalization: US$ 360 million  
    * Token Description: The most memeable cat on Internet.  
        ![QmTQrP6R7ieRSbKzwzLAy1i8c2U66b7LM6bSUmK1dfYc5b (1).jpeg](https://ipfs.everipedia.org/ipfs/QmfKAAPrHRmCZGRnYMVW5F172vXK9GAm2szcGtaxdaha8X)  
2. Shark Cat ($SC)  
    * Maximum Market Capitalization: US$ 385 million  
    * Token Description: It’s a shark , it’s a cat , it’s a shark cat. The cutest cat on Solana.  
        ![QmYZnjijjtoH2YDCPxUc6advSuSbsCre4gDjtS2YTUfw7P (1).jpeg](https://ipfs.everipedia.org/ipfs/QmVKKTCNSZUovTw8WyWDXzHtqyc2WmQhZFsB2Dx1YwGJJf)  
3. MOTHER IGGY ($MOTHER)  
    * Maximum Market Capitalization: US$ 259 million  
    * Token Description: Be a good boy and listen to your mother...  
  
    ![QmUFTFWsJiceS99iDMDm2NYuhvHXJVXTgmsDeR28X8njSn (1).png](https://ipfs.everipedia.org/ipfs/QmQKBAesfvGS2EvsXdRNSRHvwnzASSTFsYMQQazoofE1YY)  
  
## Security Incident  
  
In May 2024, Pump.fun was subjected to a security breach perpetrated by a former employee. This individual exploited the platform by using [flash loans](https://iq.wiki/wiki/flash-loan) to manipulate the [bonding curve](https://iq.wiki/wiki/bonding-curve) contracts, resulting in the misappropriation of approximately $1.9 million worth of [SOL tokens](https://iq.wiki/wiki/solana-sol). The exploit was publicly acknowledged by the attacker, who criticized the Pump.fun team for mishandling user funds and other grievances. [\[2\]](#cite-id-ttapfbf3gb)[\[4\]](#cite-id-si0dopft5u)  
  
The breach led to a temporary halt in trading while the Pump.fun team conducted a thorough investigation. They identified the vulnerabilities exploited and took measures to secure the platform against future attacks. These measures included redeploying contracts and implementing additional security protocols to prevent similar incidents.  
  
Pump.fun shared their thoughts on their X profile:  
  
> *“We are aware that the bonding curve contracts have been compromised and are investigating the matter,”*  
  
In an effort to regain user trust, Pump.fun announced that it would offer zero-fee trading for a week following the incident. Additionally, the platform committed to compensating affected users, with the goal of maintaining a safe and reliable environment for its community. [\[2\]](#cite-id-ttapfbf3gb)[\[4\]](#cite-id-si0dopft5u)  
  
Pump.fun shared on their X profile that they are taking protective measures:  
  
> *“working with some of the most esteemed security folks in the space,”*  
  
The response from the [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) community was mixed, with some viewing the exploiter as a whistleblower highlighting platform weaknesses, while others criticized the security lapse. Despite this, Pump.fun has continued reinforcing its security measures and striving to provide a safe platform for memecoin creation and trading. [\[4\]](#cite-id-si0dopft5u)  
  
# Founders  
  
Two individuals, known as "Alon" and "Sapijiju," both claim to be co-founders of Pump.fun, but their true identities remain unknown. [\[6\]](#cite-id-hhdcsyy4nj8)[\[7\]](#cite-id-z8njf6waqip)[\[8\]](#cite-id-46l622cuumc)[\[11\]](#cite-id-o31cgzqx0vi)  
$$widget0 [YOUTUBE@VID](_IO02BLi2d4)$$

In January 2024, Pump.fun was launched.








Date Launched

Integration of the Ethereum Layer 2 network in February

Integration of the Ethereum Layer 2

On July 1, 2024, Pump.fun’s cumulative revenue crossed $50 million according to DefiLlama data

Revenue Crosses $50 Million

eFpkXD11lIw

_IO02BLi2d4

60fad8dfaa927a314fef35bd523b1b6e.png

9UZRqYWv_400x400.jpg

QmTQrP6R7ieRSbKzwzLAy1i8c2U66b7LM6bSUmK1dfYc5b (1).jpeg

QmUFTFWsJiceS99iDMDm2NYuhvHXJVXTgmsDeR28X8njSn (1).png

QmYZnjijjtoH2YDCPxUc6advSuSbsCre4gDjtS2YTUfw7P (1).jpeg

Pump.fun is a cryptocurrency platform for creating and trading memecoins, leveraging Solana and Blast networks for fast, low-cost transactions.

Timeline of Events

Pump.fun

Date Launched

Integration of the Ethereum Layer 2

Revenue Crosses $50 Million

IQ

Company

Resources

Policies