What is pump.fun?

pump.fun is an app for creating and trading memecoins on the Solana blockchain. A memecoin is a token with no product or cash flow behind it; its price moves only on attention and on what the next buyer will pay. pump.fun made launching one take a minute and cost nothing but network rent, and it became the largest launchpad on Solana by a wide margin.

This page is independent and unofficial. We are not pump.fun, and nothing here is advice to buy anything.

How it works, in four steps

1. Someone creates a coin. They pick a name, ticker and image. There is no platform fee to create a coin, only Solana network rent (Fees page). Every standard coin has a supply of 1,000,000,000 tokens.
2. The coin trades on a bonding curve. A bonding curve is a pricing formula run by pump.fun’s smart contract: each buy raises the price and each sell lowers it, with no order book and no market maker. On-chain settings read on 4 November 2026 start a SOL-paired coin at a market value of about 28 SOL. See how the bonding curve works.
3. The curve sells out and the coin graduates. When the curve has sold its 793.1M tokens, which takes about 85 SOL of buying, the coin “graduates”. The SOL and the remaining tokens move to a pool on PumpSwap, pump.fun’s own exchange, launched on 20 March 2025. Before that, graduates went to Raydium. See what graduation means and PumpSwap.
4. It keeps trading, or it doesn’t. After graduation anyone can trade the coin on PumpSwap, through the pump.fun app, trading terminals, Telegram bots and wallets such as Phantom. Most coins never get this far.

Coins can also be paired with USDC or, since 9 September 2026, with other assets such as tokenized stocks (“custom pairs”), per pump.fun’s own weekly newsletter.

What it costs to trade

The full schedule is on our fees page. The short version, from pump.fun’s Fees page (last updated 17 October 2026):

Where you trade	Fee per trade
On the bonding curve	1.25% (0.95% protocol, 0.30% creator)
On PumpSwap after graduation	1.25% falling to 0.30% as the coin’s value grows
Extra charge in pump.fun’s web and mobile app	0.45% Platform Fee, or 0.40% with any referral code
Graduation	0.015 SOL, once per coin

The Platform Fee applies only inside pump.fun’s own app. Terminal (pump.fun’s pro trading app, formerly Padre), third-party apps and wallets don’t charge it, but most of them add their own fee, often 1%. See the Platform Fee and where to trade pump.fun coins.

The pieces of pump.fun

Product	What it is
Bonding curve (the launchpad)	Where every coin starts trading
PumpSwap	pump.fun’s exchange for graduated coins
Web and mobile app	Browse, launch and trade; charges the Platform Fee
Terminal	Pro trading app, acquired as Padre in October 2025
Perps	Leveraged futures inside the app, routed to Hyperliquid
EVM chains	In-app trading on Robinhood Chain, Base, BNB Chain and others
Callouts	Public calls on coins you hold, with discretionary USDC rewards
Livestreams	Video streams on a coin’s page
GO	A bounty board with on-chain escrow
Mayhem Mode	An opt-in AI agent that trades a new coin for 24 hours
Holder rewards	A coin type that pays the creator fee to holders
PUMP	pump.fun’s own token, bought back with half of revenue

How big it is

From DefiLlama, 30 days to 3 November 2026:

• $158.6M in fees across pump.fun’s products (curve, PumpSwap, mobile app and Terminal), of which $57.0M was pump.fun’s own revenue; the rest went to coin creators and liquidity providers.
• $12.67B traded on the bonding curve and PumpSwap, about 22% of the Solana exchange volume DefiLlama tracks.
• 74.6% of all fees paid on Solana launchpads ($57.0M on the bonding curve). The next largest, StonkFun, had 7.7%. See pump.fun vs other launchpads.
• October 2026 fees were $175.0M, the highest month in DefiLlama’s 13-month window.

pump.fun’s own newsletter counted 310,696 new coins launched in the week of 24 to 30 August 2026, and says the mobile app passed 100,000 daily active users that week.

Who runs it, and where it works

The operator named in pump.fun’s Terms is Baton Corporation Ltd, a company registered in England. It launched pump.fun in January 2024 (The Block). A separate token, PUMP, was sold in July 2025.

pump.fun’s Terms list the United Kingdom, Cuba, Iran, North Korea, Syria, Russia, Belarus and the Crimea, Donetsk and Luhansk regions as Prohibited Jurisdictions. The UK block followed an FCA warning on 3 December 2024. US users may launch and trade coins, but the perps feature excludes the US and Ontario. See is pump.fun available in the US.

pump.fun’s founders and company are defendants in a US class action; a 31 August 2026 ruling let racketeering claims proceed. See what the ruling decided.

The risks, plainly

• Most coins fail. Only a small share of coins ever graduate; published estimates range from about 0.2% to 5% depending on the period and method. A Solidus Labs study reported in May 2025 classed 98.6% of pump.fun tokens as rug pulls or pump-and-dumps; pump.fun disputed it.
• Early wallets have an edge. Snipers buy in the first blocks, and some creators buy through many wallets at once (“bundling”) to hide how much they hold. pump.fun shows “snipers %”, “bundlers %” and “dev holdings %” on each coin page.
• Clones and scams. The same name and ticker are often launched many times. Phishing sites copy pump.fun. Use our official links list and how to spot a rug.
• Nothing is guaranteed. Memecoins mostly lose most of their value. Only use money you can afford to lose entirely.