Pumpfun is a decentralized platform for creating and trading memecoins simply, attracting hundreds of millions of USD in revenue, but is not the largest ICO in cryptocurrency history.
Pumpfun stands out with an automatic Bonding Curve model for Token pricing, opening a democratic playground for users on Solana and other ecosystems. Impressive success, but the historical ICO still belongs to EOS with $4.2 billion raised.
MAIN CONTENT
Pumpfun is a platform for easily creating memecoins, low cost, using the Bonding Curve mechanism for automatic pricing.
EOS holds the record for the largest ICO in history with $4.2 billion, while Pumpfun raised $600 million at a valuation of $4 billion.
Pumpfun has achieved hundreds of millions of USD/year in revenue and generated millions of transactions, becoming a prominent DeFi phenomenon in 2024-2025.
What is Pumpfun?
Pumpfun was launched in early 2024, a decentralized platform that allows users to create and issue memecoins in just a few minutes without complicated programming or censorship. The platform initially built on Solana, leveraging fast speed and low fees, then expanded to Base and Blast to increase accessibility.
Users only need to connect their wallet, set a name, ticker, description, and upload an image to complete the Token. With an initiation fee of about 0.02 SOL (2-3 USD), Pumpfun makes it easy for everyone to participate in the memecoin market. A notable point is that Pumpfun integrates the Bonding Curve mechanism, automatically creating liquidity and fairly pricing the Token from the start without intermediaries.
Pumpfun – One of the largest ICOs in the history of the Crypto industry?
Although Pumpfun announced an ICO raising $600 million with a valuation of $4 billion, this is not the largest ICO in cryptocurrency history. The EOS ICO organized by Block.one holds the long-term record by raising up to $4.2 billion within a year (2017-2018) with a model of Token sales through daily auctions for fair distribution.
EOS was once expected to be a strong competitor to Ethereum thanks to its scalability and free transactions, but slow implementation and limited applications caused the project to lose its position.
Meanwhile, Telegram once raised $1.7 billion for the TON project but was blocked by the SEC and had to return the money as well as stop development in 2020. An independent community group later continued to develop TON under the name The Open Network.
“EOS set a new standard in the ICO field with transparent Token distribution methods extended over a year, creating a large community effect.”
Brendan Blumer, CEO Block.one, 2018
The context of Pumpfun's emergence
The trend of memecoins thriving on platforms like Solana and Base has changed the definition of Token creation. From a stage where memecoins were just games on social networks, to becoming a vibrant market with thousands of new Tokens every day. Pump.fun arose from the need for anyone to quickly create coins without requiring expertise or a development team.
With a user-friendly interface and extremely low costs, Pumpfun democratizes the field of Token creation and trading, sparking a memecoin craze in the 2024-2025 period along with many viral stories and large revenues.
Operational mechanism: What is Bonding Curve and why is it important?
Bonding Curve is an automatic pricing algorithm based on Token supply and demand. The price gradually increases as the amount of Tokens bought increases and decreases when sold, completely without the need for an intermediary to coordinate. This is an important distinguishing feature that helps Pumpfun create a fair trading and pricing process while minimizing the risk of rug pull.
When creating a Token, 800 million Tokens are issued into the Bonding Curve contract.
The price starts very low, attracting early buyers.
When the market cap reaches $66,000, the platform automatically provides liquidity to DEX Raydium, burning LP to create scarcity and stabilize the price.
Tokens can be freely traded on the secondary market or proposed to larger DEX, CEX exchanges.
Thanks to this model, Pumpfun provides absolute fairness (fair launch), limits distribution to the team or pre-sale, and creates momentum through viral effects when Token prices rise quickly.
Describe the operational mechanism of Bonding Curve of Pump.fun
Notable features of Pumpfun
Pumpfun not only creates Tokens but also has a complete system to facilitate issuance, trading, and community development for memecoins. Below are the core features:
Easily create memecoins without programming, no audit, reducing barriers to entry to the maximum.
Low initiation fees of only ~0.02 SOL (2-3 USD), expanding financial democracy.
Integrates the Bonding Curve model, eliminating pre-sale and team allocation, creating absolute fair launch.
Automatically list on Raydium when the market capitalization reaches the threshold of $66,000, burn LP Token to increase rarity and stabilize the price.
User-friendly interface, complete with price charts, transaction history, and tools to support buying and selling decisions.
Support livestreaming directly within the Token interface, helping creators connect with the community and increase viral effects.
Trade directly on the platform, convenient without having to switch to external DEX.
Notable achievements of Pumpfun
Officially emerging in early 2024, Pump.fun made a significant impact in the DeFi and memecoin ecosystem thanks to impressive business metrics:
Annual revenue of nearly $359 million, among the top DeFi protocols generating the best cash flow in the market (Source: DefiLlama, 07/2025).
30-day trading volume reached nearly $2.8 billion, peaking at $600 million/day immediately after the Hack Infrastructure event in May 2024.
Total trading orders exceeded 1.5 million, with peak days having over 15,000 transactions, showing a strong boom in the community.
Many memecoins created from Pump.fun reached market capitalizations of hundreds of millions of USD such as Fartcoin, Moodeng, Pnut, or GOAT.
Source: Defillama (07/10/2025)
“Pump.fun has established an effective DeFi business model with hundreds of millions of USD in annual revenue, demonstrating the sustainable growth potential of the easy Token creation platform.”
Amber Li, Cryptocurrency Finance Expert, 07/2025
Pumpfun tokenomics
The native Token $PUMP is designed with a total supply of 1 trillion Tokens and an ICO raising $600 million with a selling price of $0.004/Token.
33% allocated for ICO (18% private sale sold out, 15% public sale).
24% used for community initiatives and ecosystem development.
20% for the development team.
13% allocated for current investors.
3% livestream fund, 2.4% ecosystem fund, 2% Foundation, 2.6% liquidity & exchange.
The public sale is expected to take place from 21:00 Vietnam time on July 12 to 21:00 on July 15 or until 150 billion Tokens are sold out. Tokens will be unlocked and traded 48-72 hours after the sale ends. Users need to complete KYC on supporting exchanges like Bybit, Kraken, Bitget, MEXC, KuCoin, Gate to purchase $PUMP.
Conclusion
The launch of Token $PUMP marks a new development step for Pump.fun from a simple memecoin creation platform to an ecosystem with a native Token with mechanisms to encourage sustainable community involvement. However, speculative risks and high competition require users to be careful in thorough research, manage capital wisely, and not invest beyond their tolerance for volatility.
Frequently Asked Questions
Is Pumpfun the largest ICO in cryptocurrency history? No, the largest ICO is still EOS with $4.2 billion raised within a year (2017-2018). What advantages does Bonding Curve give Pumpfun? Bonding Curve automatically prices Tokens based on supply and demand, creating a fair launch, limiting rug pulls, and not requiring manual liquidity pools. What is the cost of creating a Token on Pumpfun? Only about 0.02 SOL (2-3 USD), extremely low and suitable for newcomers. How to participate in the $PUMP ICO? Users need to complete KYC on exchanges like Bybit, Kraken, Bitget, MEXC, KuCoin, Gate and buy Tokens during the public sale period. What notable achievements has Pumpfun achieved? Annual revenue of nearly $359 million, 30-day trading volume reaching $2.8 billion, and millions of transactions per day.
Source: https://tintucbitcoin.com/pumpfun-la-gi/
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