Pump.fun teases the future token and shows a new trading terminal
The team behind Pump.fun – a popular memecoin deployment platform on the Solana (SOL) network – recently released a future token and a newly updated trading terminal, dubbed “Pump Advance” at the October 19 X Spaces event.
No specific timeline has been given by the Pump team for future token launches. However, more information is available on the recently announced Pump Advanced Platform.
According to the announcement, Pump Advance features mini-charts, information on top holdings and social indicators to help traders sift through the millions of memecoins currently vying for attention. The team announced 0% fees for the first month and enhanced login security options with Privy.
The new pump advanced business terminal. Source Pump.fun.
Memecoins have drawn mixed reviews from the crypto community, with some industry thought leaders such as Murad Mahmudov arguing that memecoins offer a legitimate use case for crypto by removing the speculative premium from altcoins. In contrast, the bullish Jimmy Song believes memecoins are a net negative for investors and represent the height of speculative gambling.
Related: What is Pump.fun? Solana's memecoin generator guide
Putting Pump.fun's memecoins into perspective
According to data from Dune's analysis, approximately 98.5% of memecoins on the Pamp.fun platform have not been successfully listed on Radium – a popular decentralized trading protocol on the Solana network.
In an effort to fix high-profile failed token launches and stop carpet-dragging, the Pump team announced an $80 incentive for token creators to complete the token mix and successfully list their tokens on Raydium by August 2024.
Successful launch of memecoins on the Pump.fun platform. Source: Dunn
Critics of the platform point out that the probability of winning memecoins on Pump.fun is lower than winning at roulette. One memecoin trader pegged the odds of picking a winner at roughly 0.12 percent and described the platform as a “slaughterhouse.”
Despite this massive failure and crash launch, the Pamp.fun platform continues to attract users and boasts significant transaction volume.
In the year On August 13, 2024, the memecoin deployment platform generated more than $5.3 million in revenue in one day – beating the total revenue of the 24 largest protocols in the same time frame.
Magazine: 1 out of 6 new Base memecoins are scams, 91% vulnerability
