Pump.fun Reveals New Token Plan And Launches Advanced Trading Terminal

Pump.fun revealed a new token plan and launched a state-of-the-art trading terminal (Photo; Doc. Solfate)

JAKARTA - Pump.fun, a popular platform for the launch of meme coins on the Solana (SOL) network, recently announced a grand plan that is expected to strengthen its position as a leader in the crypto world.

In the X Spaces event which was held on October 19, 2024, they announced the launch of a new token and introduced a new trading terminal called "Pump Advance". This is a strategic step that has the potential to have a significant impact on the Solana ecosystem and meme coin traders.

Reporting from Cointelegraph, although the Pump.fun team has yet to provide a definite date for the launch of their new tokens, further details on Pump Advance have been shared. The terminal is designed to help meme coin traders with various advanced features such as mini-charts, data on the largest token holder, as well as social indicators for filtering millions of meme coins in circulation. The platform also provides attractive offers in the form of 0% transaction fees during the first month, as well as increased login security with Privy technology.

The existence of meme coins often triggers mixed reactions from the crypto community. Some industry experts, such as Murad Mahmudov, think meme coins have legitimate uses by eliminating excessive speculation from altcoins. However, figures like Jimmy Song actually consider meme coins a detrimental investment and more like speculative gambling.

Data from Dune Analytics reveals that about 98.5% of the meme coins generated on the Pump.fun platform were not successfully officially launched on Raydium, a decentralized trading protocol on the Solana network.

To address this issue and prevent injury pull fraud (suddenly withdrawing funds), in August 2024, the Pump.fun team offered an incentive of 80 US Dollars (Rp1.2 million) to token makers who managed to launch their meme coins at Raydium.

Although many tokens failed to launch, the platform still attracts users. On August 13, 2024, Pump.fun recorded revenue of more than 5.3 million US Dollars (Rp 81.8 billion) in a day, beating total revenue from 24 other largest protocols in the same period.

The success rate of meme coins on this platform is indeed low. A trader estimates the chances of choosing a meme coin that works only around 0.12%, describing this platform as a "hiring house" for failed tokens. However, with a new trading terminal and incentives for token makers, Pump.fun hopes to increase the rate of successful launch of future meme coins.