The memecoin launchpad platform Pump.fun on Solana has surpassed 800 million USD in cumulative revenue, according to on-chain data from Dune's anonymous analyst @adam_tehc. To date, Pump has generated 800,668,932 USD in transaction fees.
Pump's revenue model is based on a 1% fee for every token transaction on the platform. Before launching its own decentralized exchange (DEX) called PumpSwap, the platform used to charge fees when a token 'graduated' to Raydium after reaching a certain market capitalization.
Pump is considered the name that kicked off the memecoin craze last year, but is currently facing increasing competition from LetsBonk.fun, a newly launched platform in April 2025, associated with the Bonk memecoin community and integrated with Raydium's LaunchLab.
Last month, LetsBonk surpassed Pump in the number of 'graduated' tokens. However, Pump has recently regained its leading position after the top 10 memecoin deployers from LetsBonk shifted to Pump, according to famous trader Wazz Crypto's assessment.
In terms of revenue, Pump is maintaining a level above 1 million USD per day, while LetsBonk has seen a sharp decline — from about 1 million USD per day down to below 30,000 USD.
Last month, Pump also launched its native token through an ICO, raising 600 million USD in just 12 minutes. Currently, the platform is conducting a token buyback program at a price higher than the market to stabilize its value.
Meanwhile, Solana itself has just lost its position as the largest memecoin network to Base (which is incubated by Coinbase). The Base App integrates the decentralized social media platform Zora, allowing automatic minting of posts into ERC-20 tokens.
According to The Block's data, last Monday Base recorded 57,970 new memecoins, while Solana only had 32,760.
