{"id":4320,"date":"2024-12-19T21:34:15","date_gmt":"2024-12-19T21:34:15","guid":{"rendered":"https:\/\/solanacrypto.news\/2024\/12\/19\/decrypts-2024-project-of-the-year-solana-meme-machine-pump-fun\/"},"modified":"2024-12-19T21:34:15","modified_gmt":"2024-12-19T21:34:15","slug":"decrypts-2024-project-of-the-year-solana-meme-machine-pump-fun","status":"publish","type":"post","link":"https:\/\/solanacrypto.news\/2024\/12\/19\/decrypts-2024-project-of-the-year-solana-meme-machine-pump-fun\/","title":{"rendered":"Decrypt\u2019s 2024 Project of the Year: Solana Meme Machine Pump.fun"},"content":{"rendered":"<div style=\"position:relative;overflow:visible;font-size:1.2em;line-height:1.58\">\n<div class=\"pt-8 pb-10 border-t border-b border-decryptGridline \">\n<h4 class=\"sc-b2a202e4-4 bNRGqr gg-dark:text-white\" color=\"#333\">In brief<\/h4>\n<ul>\n<li class=\"font-meta-serif-pro font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">Pump.fun has made it so anyone can be a meme coin \u201cdev,\u201d lowering the barrier to crypto and opening the floodgates.<\/li>\n<li class=\"font-meta-serif-pro font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">As a result, more tokens have been created, bought, and sold this year than ever before\u2014driving degens to Solana.<\/li>\n<li class=\"font-meta-serif-pro font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">Love it or hate, Pump\u2019s impact has been undeniable, and it\u2019s Decrypt\u2019s Project of the Year for 2024.<\/li>\n<\/ul>\n<\/div>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">It started on a whim. Two devs, a laptop, and an idea to develop a platform for launching crypto tokens fairly, cheaply, and easily\u2014all while minimizing the risk of scams.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">The product wasn\u2019t perfect\u2014far from it. And after launching in January, it arguably led to more crypto scams than would have existed without it; they just looked different. But by the end of the year, the <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/resources\/what-is-solana-a-scalable-decentralized-network-for-dapps\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">Solana<\/span><\/a><span style=\"font-weight:400\"> meme coin launchpad <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/resources\/what-is-pump-fun-the-solana-meme-coin-factory\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">Pump.fun<\/span><\/a><span style=\"font-weight:400\"> had become undeniably the most culturally significant crypto project of the year. Maybe of the last several years.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">For better or worse, Pump.fun has lowered the barrier to entry in crypto. It\u2019s made it so anyone and everyone can create a new meme coin\u2014a token which derives its value from perceived cultural meaning, attention, and lulz. The platform is responsible for the creation of over <\/span><a target=\"_blank\" href=\"https:\/\/dune.com\/queries\/3756231\/6323352\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">4.7 million new tokens<\/span><\/a><span style=\"font-weight:400\"> this year alone, generated over <\/span><a target=\"_blank\" href=\"https:\/\/dune.com\/queries\/3759856\/6323377\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">$317 million in revenue<\/span><\/a><span style=\"font-weight:400\">, and has <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/293578\/pump-fun-solana-dex-transactions-november\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">accounted for over 60%<\/span><\/a><span style=\"font-weight:400\"> of all decentralized exchange transactions on the Solana network for the past three months.<\/span><\/p>\n<figure class=\"mt-8 mb-4 post-quote scene:pl-4 scene:md:pl-10 scene:border-l border-black\">\n<blockquote><p><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"quote-left\" class=\"svg-inline--fa fa-quote-left fa-w-16 -mb-2 mt-2 opacity-30 hidden scene:block\" role=\"img\" viewbox=\"0 0 512 512\"><path fill=\"currentColor\" d=\"M464 256h-80v-64c0-35.3 28.7-64 64-64h8c13.3 0 24-10.7 24-24V56c0-13.3-10.7-24-24-24h-8c-88.4 0-160 71.6-160 160v240c0 26.5 21.5 48 48 48h128c26.5 0 48-21.5 48-48V304c0-26.5-21.5-48-48-48zm-288 0H96v-64c0-35.3 28.7-64 64-64h8c13.3 0 24-10.7 24-24V56c0-13.3-10.7-24-24-24h-8C71.6 32 0 103.6 0 192v240c0 26.5 21.5 48 48 48h128c26.5 0 48-21.5 48-48V304c0-26.5-21.5-48-48-48z\"\/><\/svg><\/p>\n<p class=\"scene:text-xl font-canela scene:font-itc-avant-garde-gothic-pro scene:font-medium font-black text-3xl md:text-4xl scene:md:text-2xl gg-dark:text-white\">We really contributed to empowering [degen] culture<\/p>\n<\/blockquote><figcaption class=\"text-start text-lg scene:font-itc-avant-garde-gothic-pro scene:font-light scene:text-right\">\u2014<!-- -->Alon, Pump.fun co-founder<\/figcaption><\/figure>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">\u201cI think meme coins are somewhat inevitable, but I don\u2019t think they would have been able to blow up without Pump.fun,\u201d the project\u2019s pseudonymous co-founder Alon told <\/span><i><span style=\"font-weight:400\">Decrypt<\/span><\/i><span style=\"font-weight:400\">. \u201cI think without that innovation of really permissionlessly and super frictionlessly creating coins, we wouldn&#8217;t be here today.\u201d<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Though Pump.fun was not the first \u201cno-code\u201d token launchpad in crypto, it is the first to catch on in a big way. And that\u2019s had at least two significant outcomes for the industry this year: an explosion of meme coin trading unlike anything before in crypto\u2019s short history, and a realignment of the on-chain economy.<\/span><\/p>\n<div class=\"relative w-full\">\n<blockquote class=\"twitter-tweet mx-auto\">\n<p lang=\"en\" dir=\"ltr\">my ultimate goal is for pump dot fun to be the most fun place on the internet<\/p>\n<p>if I don&#8217;t achieve this then I have failed<\/p>\n<p>\u2014 alon (@a1lon9) <a target=\"_blank\" href=\"https:\/\/twitter.com\/a1lon9\/status\/1761481135811666166?ref_src=twsrc%5Etfw\" data-wpel-link=\"internal\" rel=\"noopener\">February 24, 2024<\/a><\/p>\n<\/blockquote>\n<\/div>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><a target=\"_blank\" href=\"https:\/\/decrypt.co\/resources\/what-is-ethereum-quickly-explained-four-minute-guide\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">Ethereum<\/span><\/a><span style=\"font-weight:400\">, once the dominant network for all decentralized, tokenized things since launching in 2015, has given way to Solana, a rival network which launched in 2020. But it hasn\u2019t been without considerable controversy along the way.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Critics decry the platform as emblematic of the worst of crypto, and regulators are now starting to pay closer attention as well.\u00a0<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">You could argue, though, that Pump.fun has served as an unfiltered mirror of the crypto community as a whole this year\u2014all of its ambitions and anxieties. A contentious U.S. election, fears of war and global unrest, and endless degeneracy\u2014there\u2019s a meme coin for it all. It set crypto culture ablaze in 2024, <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/231807\/solana-dev-hospitalized-burns-pump-meme-coin\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">at times even literally<\/span><\/a><span style=\"font-weight:400\">, and was responsible for some of the industry\u2019s wildest moments. For these reasons and more, Pump.fun is <\/span><i><span style=\"font-weight:400\">Decrypt\u2019s <\/span><\/i><span style=\"font-weight:400\">project of the year.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">\u201cWe really contributed to empowering [degen] culture,\u201d Alon said. \u201cThis is what the product is built for, to a certain extent. It\u2019s to capture these crazy moments, and be a moment in history. We want to be a part of that.\u201d<\/span><\/p>\n<h2 class=\"sc-b2a202e4-2 bmropA gg-dark:text-white scene:font-itc-avant-garde-gothic-pro scene:font-light\" style=\"margin-top:2em;text-align:left;padding-bottom:16px;margin-bottom:16px;border-bottom:1px solid #dfe2e4\" color=\"#333\"><span style=\"font-weight:400\">Meme coin revolution<\/span><\/h2>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Pump.fun\u2019s appeal is simple: It\u2019s made it easier to create a crypto token than ever before, redefining the meaning of the word \u201cdeveloper\u201d\u2014or \u201cdev\u201d\u2014in the process. Creating a new cryptocurrency is no longer the domain of the technocratic elite, sophisticated programmers with years of coding experience and deep pockets. Anyone can do it.\u00a0<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Your grandma can launch a coin. Your teenage son can create a token. And <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/246047\/crack-head-dev-solana-meme-coin\" rel=\"noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">many of them have<\/span><\/a><span style=\"font-weight:400\">.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">There are now tens of thousands of new tokens launched on Pump.fun every day, which means tens of thousands of more opportunities for crypto traders young and old to try to make money. And that\u2019s largely what drives demand for the product: the age-old desire to get rich quick.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Whether it\u2019s a lucky trader turning a <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/291739\/lucky-trader-16-3-million-pnut-meme-coin\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">few dollars into millions<\/span><\/a><span style=\"font-weight:400\">, screenshots of crypto wallets posting mindbending <\/span><a target=\"_blank\" href=\"https:\/\/dune.com\/adam_tehc\/pump-fun-alpha-wallets\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">monthly profits<\/span><\/a><span style=\"font-weight:400\">, or <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/292594\/this-child-made-30k-rugging-a-solana-meme-coin-then-crypto-degens-got-revenge\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">young teens pulling in thousands in SOL<\/span><\/a><span style=\"font-weight:400\"> on an average morning before school, it\u2019s all been made possible because of Pump.fun.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">In this sense, the product maps neatly onto what pundits and academics have long described as the onset of \u201cfinancial nihilism\u201d\u2014the latest wave in the slow disillusionment, primarily among young people, of the American Dream. The term gained popularity following the GameStop <\/span><a target=\"_blank\" href=\"https:\/\/www.theverge.com\/2021\/7\/13\/22574133\/robinhood-meme-trades-dogecoin-ipo\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">meme stock craze on Robinhood<\/span><\/a><span style=\"font-weight:400\"> in late 2020, and essentially describes the growing sense that it\u2019s no longer possible to generate wealth the old-fashioned way. The system is rigged, all value is subjective, so might as well take your chances with memes\u2014so the idea goes.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">If that\u2019s the case, it could help explain why young people are so drawn to the endless churn of meme coins. The trouble is the odds of hitting it big on a meme coin trade are still extremely slim, <\/span><a target=\"_blank\" href=\"https:\/\/dune.com\/queries\/3756231\/6323352\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">close to 99%<\/span><\/a><span style=\"font-weight:400\"> of tokens go to <\/span><a target=\"_blank\" href=\"https:\/\/dune.com\/queries\/4347074\/7298667\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">zero<\/span><\/a><span style=\"font-weight:400\">, and <\/span><a target=\"_blank\" href=\"https:\/\/x.com\/bubblemaps\/status\/1800845676948988298\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">insider trading still runs amok<\/span><\/a><span style=\"font-weight:400\">\u2014not to mention the countless <\/span><a target=\"_blank\" href=\"https:\/\/x.com\/zachxbt\/status\/1861450263925559399\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">outright scams<\/span><\/a><span style=\"font-weight:400\"> and <\/span><a target=\"_blank\" href=\"https:\/\/x.com\/NFTNate_\/status\/1825528307833876695\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">rug pulls<\/span><\/a><span style=\"font-weight:400\">. But that hasn\u2019t stopped crypto traders from dreaming, and as they rushed to Pump.fun this year in search of the next 1000X, their attention became tokenized.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">When the world swooned over a baby hippo, <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/283929\/diamond-hand-moo-deng-millionaire-still-hodling-despite-crash\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">Moo Deng<\/span><\/a><span style=\"font-weight:400\">, Pump.fun traders turned it into one of the biggest meme coins of the year. When news broke of Donald <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/239811\/trump-shooter-inspired-meme-coins-traded-for-hours-before-fbi-identified-him\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">Trump getting shot<\/span><\/a><span style=\"font-weight:400\">, or <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/225953\/oj-simpson-queen-why-degens-meme-coins-celebrities-die\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">a celebrity died<\/span><\/a><span style=\"font-weight:400\">, or the <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/289968\/donald-trump-kamala-harris-meme-coins-make-double-digit-moves-as-election-looms\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">U.S. election took a turn<\/span><\/a><span style=\"font-weight:400\">, there was a meme coin for it all within seconds. Meme coins are created so quickly on Pump.fun following cultural events, some degens now boast of getting their news primarily from the platform\u2019s front page.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">As pop culture became financialized, Gen Z joined in on the fun\u2014perhaps most notably when the viral TikTok meme \u201c<\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/292627\/chill-guy-tiktok-meme-crypto-millions\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">Chill Guy<\/span><\/a><span style=\"font-weight:400\">\u201d was <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/296539\/chill-guy-solana-meme-coin-plummets-creator-hack\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">turned into a Pump.fun token<\/span><\/a><span style=\"font-weight:400\"> last month and soared to a market cap in the hundreds of millions within days. The frenzy marked payment service company MoonPay\u2019s single biggest day for Solana transactions, a sign of the times.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">A product like Pump.fun could not exist on the Ethereum network, which is comparatively slower and more expensive to use, especially when network activity spikes. It\u2019s largely considered more secure than Solana, but that appears to matter very little to the hordes of degens looking to trade memes. Pump.fun clones have been attempted on Ethereum-based layer-2 networks such as <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/resources\/what-is-base-coinbases-layer-2-chain\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">Base<\/span><\/a><span style=\"font-weight:400\">, which more closely match Solana\u2019s speed and cost efficiency, but have yet to garner the same kind of attention.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">As a result, Solana is now suddenly the go-to place for all things crypto\u2014both culturally and financially. In September, Solana surpassed Ethereum in daily decentralized exchange volume and has been ahead ever since\u2014now with a comfortable $2.3 billion lead, according to <\/span><a target=\"_blank\" href=\"https:\/\/dune.com\/queries\/3305104\/5535231\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">Dune data<\/span><\/a><span style=\"font-weight:400\">.\u00a0<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">And since Pump.fun accounts for more than 60% of all Solana transactions over the past three months, it\u2019s safe to say that Solana\u2019s comeback this year\u2014suffering reputationally and its native token SOL losing 97% of its value in the wake of <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/116652\/ftx-solana-defi-serum-starting-over)),\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">FTX and Sam Bankman-Fried\u2019s implosion<\/span><\/a><span style=\"font-weight:400\">\u2014likely isn\u2019t possible without Pump and its many, many memes.<\/span><\/p>\n<h2 class=\"sc-b2a202e4-2 bmropA gg-dark:text-white scene:font-itc-avant-garde-gothic-pro scene:font-light\" style=\"margin-top:2em;text-align:left;padding-bottom:16px;margin-bottom:16px;border-bottom:1px solid #dfe2e4\" color=\"#333\"><span style=\"font-weight:400\">How it began<\/span><\/h2>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">But it wasn\u2019t always like this. Way back in January, Pump.fun\u2019s pseudonymous co-founders <\/span><a target=\"_blank\" href=\"https:\/\/x.com\/a1lon9\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">Alon<\/span><\/a><span style=\"font-weight:400\"> and <\/span><a target=\"_blank\" href=\"https:\/\/x.com\/sapijiju\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">Sapijiju<\/span><\/a><span style=\"font-weight:400\"> were on a cold streak of launching products\u2014like an influencer fundraising tool and a self-described \u201cdumb\u201d project on top of crypto-based social network <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/resources\/what-is-friend-tech-the-social-token-driven-decentralized-social-network\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">Friend.tech<\/span><\/a><span style=\"font-weight:400\">\u2014that didn\u2019t gain much traction.\u00a0<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">After noticing too many rug pulls and <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/232927\/celeb-crypto-handler-380k-fake-iggy-azalea-meme-coin\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">dodgy pre-sale token launches<\/span><\/a><span style=\"font-weight:400\">, the pair of trench warriors decided to fix the problem. They created a product that would let anyone launch a token for just a few bucks (<\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/243905\/now-pump-fun-will-pay-you-to-create-a-successful-meme-coin\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">eventually making it completely free<\/span><\/a><span style=\"font-weight:400\">), not allowing for malicious contracts or nefarious pre-sales, promising every token to be a \u201cfair launch.\u201d\u00a0<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">All you have to do is fill in your token\u2019s desired name, ticker, description, attach a photo, and, if you\u2019d like, add social media links. There\u2019s no account creation process or ID checks, like most things in <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/resources\/defi-decentralized-finance-explained-guide-learn\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">DeFi<\/span><\/a><span style=\"font-weight:400\">\u2014just connect your <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/138536\/phantom-solana-wallet-ethereum-polygon-support\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">Solana wallet<\/span><\/a><span style=\"font-weight:400\"> and off you go. Pump then naturally takes a cut of all trades on its platform, which is how it makes its money.<\/span><\/p>\n<figure class=\"mt-8 mb-4 post-quote scene:pl-4 scene:md:pl-10 scene:border-l border-black\">\n<blockquote><p><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"quote-left\" class=\"svg-inline--fa fa-quote-left fa-w-16 -mb-2 mt-2 opacity-30 hidden scene:block\" role=\"img\" viewbox=\"0 0 512 512\"><path fill=\"currentColor\" d=\"M464 256h-80v-64c0-35.3 28.7-64 64-64h8c13.3 0 24-10.7 24-24V56c0-13.3-10.7-24-24-24h-8c-88.4 0-160 71.6-160 160v240c0 26.5 21.5 48 48 48h128c26.5 0 48-21.5 48-48V304c0-26.5-21.5-48-48-48zm-288 0H96v-64c0-35.3 28.7-64 64-64h8c13.3 0 24-10.7 24-24V56c0-13.3-10.7-24-24-24h-8C71.6 32 0 103.6 0 192v240c0 26.5 21.5 48 48 48h128c26.5 0 48-21.5 48-48V304c0-26.5-21.5-48-48-48z\"\/><\/svg><\/p>\n<p class=\"scene:text-xl font-canela scene:font-itc-avant-garde-gothic-pro scene:font-medium font-black text-3xl md:text-4xl scene:md:text-2xl gg-dark:text-white\">We never really mapped the market, to be honest.<\/p>\n<\/blockquote><figcaption class=\"text-start text-lg scene:font-itc-avant-garde-gothic-pro scene:font-light scene:text-right\">\u2014<!-- -->Alon, Pump.fun cofounder<\/figcaption><\/figure>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">That said, with the token creation process becoming standardized, scams had to evolve and become more sophisticated.\u00a0<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Now, malicious actors are <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/236572\/50-cent-twitter-hacked-solana-meme-coin\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">hacking celebs<\/span><\/a><span style=\"font-weight:400\">&#8216; social media accounts, or <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/245783\/mcrugged-hackers-mcdonalds-instagram-make-700k-grimace-token\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">buying up huge portions of the initial token supply<\/span><\/a><span style=\"font-weight:400\"> from side wallets at launch to dump on unsuspecting degens. Entire underground economies have spawned to scam people on Pump.fun\u2014bundle tools, rug pull professionals, comment bots, and more. Degens may no longer have to worry about compromised smart contracts, or sending <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/price\/solana\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">SOL<\/span><\/a><span style=\"font-weight:400\"> to a <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/238523\/fake-iggy-azalea-token-airdrop-refunds-sahil-arora\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">pre-sale wallet<\/span><\/a><span style=\"font-weight:400\"> and wonder if they\u2019ll actually get any tokens back in return, but trading meme coins is still certainly not safe.\u00a0<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">\u201cWe never really mapped the market, to be honest,\u201d Alon told <\/span><i><span style=\"font-weight:400\">Decrypt<\/span><\/i><span style=\"font-weight:400\">. \u201cWe were mainly thinking about solving this problem. And were just really deep in the trenches, trying to make it happen.\u201d<\/span><\/p>\n<div class=\"relative w-full\">\n<blockquote class=\"twitter-tweet mx-auto\">\n<p lang=\"en\" dir=\"ltr\">Introducing Pump: Launch a coin that is instantly tradeable without having to seed liquidity<\/p>\n<p>Pick a name, ticker, JPG &amp; instantly begin trading on a bonding curve<\/p>\n<p>Coming Soon to <a target=\"_blank\" href=\"https:\/\/twitter.com\/solana?ref_src=twsrc%5Etfw\" data-wpel-link=\"internal\" rel=\"noopener\">@solana<\/a><\/p>\n<p>Keep reading to learn why it will forever change how coins launch\ud83e\uddf5 <a target=\"_blank\" href=\"https:\/\/t.co\/uaStnYQ3l0\" data-wpel-link=\"internal\">pic.twitter.com\/uaStnYQ3l0<\/a><\/p>\n<p>\u2014 pump.fun (@pumpdotfun) <a target=\"_blank\" href=\"https:\/\/twitter.com\/pumpdotfun\/status\/1745225047835566256?ref_src=twsrc%5Etfw\" data-wpel-link=\"internal\" rel=\"noopener\">January 10, 2024<\/a><\/p>\n<\/blockquote>\n<\/div>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">There was no grand opening for Pump.fun, not even a beer cracked between friends. It was simply launched off a laptop, with the two founders not even in the same room and without much thought given to what would happen next.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">On its first day, Pump generated a modest $7,000 in volume\u2014but even that surprised its creators, Alon said, and opened their eyes to the project\u2019s potential. \u201cIn a matter of weeks, every single coin on Solana shall launch on Pump,\u201d the Pump X account <\/span><a target=\"_blank\" href=\"https:\/\/x.com\/pumpdotfun\/status\/1748798742931620192\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">tweeted<\/span><\/a><span style=\"font-weight:400\"> at the time. The duo then knuckled down and improved its \u201ckinda shit\u201d site, Alon explained, as their conviction started to grow.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Alon claims to have DM\u2019d over <\/span><a target=\"_blank\" href=\"https:\/\/x.com\/a1lon9\/status\/1768777599583764710\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">3,000 people<\/span><\/a><span style=\"font-weight:400\"> from across the industry in the early days. It\u2019s <\/span><a target=\"_blank\" href=\"https:\/\/x.com\/CookerFlips\/status\/1854210919372583118\/photo\/1\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">become<\/span><\/a><span style=\"font-weight:400\"> a <\/span><a target=\"_blank\" href=\"https:\/\/x.com\/notsofast\/status\/1854600792805708139\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">running joke<\/span><\/a><span style=\"font-weight:400\"> when people in crypto discover an ignored message from the founder.\u00a0<\/span><\/p>\n<div class=\"relative w-full\">\n<blockquote class=\"twitter-tweet mx-auto\">\n<p lang=\"en\" dir=\"ltr\">people really think I made that stat up lmao<\/p>\n<p>\u2014 alon (@a1lon9) <a target=\"_blank\" href=\"https:\/\/twitter.com\/a1lon9\/status\/1854602049758908685?ref_src=twsrc%5Etfw\" data-wpel-link=\"internal\" rel=\"noopener\">November 7, 2024<\/a><\/p>\n<\/blockquote>\n<\/div>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">You could hardly blame them though. Most people in crypto ignored Pump.fun in the early going, as tokens launched on the platform back then were generally dismissed as low value and not worth traders\u2019 time.\u00a0<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">That all changed in February when crypto influencer <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/videos\/live-events\/u9DHFoK0\/crypto-influencer-ansem-explains-his-meme-coin-thesis-and-why-hes-bullish-on-bitcoin-runes\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">Ansem<\/span><\/a><span style=\"font-weight:400\">, who gained notoriety earlier this year for calling the Solana comeback, shouted out a Pump meme coin called <\/span><a target=\"_blank\" href=\"https:\/\/pump.fun\/coin\/846yk5YHrkBss73wzamU1nUtnhCbKHF9WEh8A3rp6YHw\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">Rosebot<\/span><\/a><span style=\"font-weight:400\"> (<\/span><a target=\"_blank\" href=\"https:\/\/dexscreener.com\/solana\/7td14bqshsvrbantnsv1zxw5jmxaaagjazcbphcvt6fw\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">ROSE<\/span><\/a><span style=\"font-weight:400\">), which then soared to $2.5 million market cap in just 12 hours. It might not sound like much, but it was \u201chuge\u201d at the time, says Alon. <\/span><a target=\"_blank\" href=\"https:\/\/x.com\/DonCryptonium\/status\/1766778922182836296\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">Other<\/span><\/a> <a target=\"_blank\" href=\"https:\/\/x.com\/LarpVonTrier\/status\/1767196989047836755\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">influencers<\/span><\/a><span style=\"font-weight:400\"> then followed suit in March.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">\u201cEvery day after that day we doubled in volume, or something,\u201d Alon told <\/span><i><span style=\"font-weight:400\">Decrypt<\/span><\/i><span style=\"font-weight:400\">. \u201cI know for a fact that the only way they would have heard about us is through organic channels. I definitely [attribute] our success to that organic stuff and really speaking to people.\u201d<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Pump.fun then grew, and grew, and grew. The meme coin <\/span><a target=\"_blank\" href=\"https:\/\/pump.fun\/coin\/6D7NaB2xsLd7cauWu1wKk6KBsJohJmP2qZH9GEfVi5Ui\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">Shark Cat<\/span><\/a><span style=\"font-weight:400\"> launched on Pump in late March, hitting a<\/span><a target=\"_blank\" href=\"https:\/\/dexscreener.com\/solana\/bszedbevwrqvksaf558eppwcm16avepyhm2hgsq9wzyy\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\"> $387 million market cap<\/span><\/a><span style=\"font-weight:400\"> by the end of the month<\/span><span style=\"font-weight:400\">\u2014<\/span><span style=\"font-weight:400\">then <\/span><a target=\"_blank\" href=\"https:\/\/pump.fun\/coin\/3BgwJ8b7b9hHX4sgfZ2KJhv9496CoVfsMK2YePevsBRw\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">Teh Epik Duck<\/span><\/a><span style=\"font-weight:400\">, then <\/span><a target=\"_blank\" href=\"https:\/\/pump.fun\/coin\/5mbK36SZ7J19An8jFochhQS4of8g6BwUjbeCSxBSoWdp\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">Michi<\/span><\/a><span style=\"font-weight:400\">, then <\/span><a target=\"_blank\" href=\"https:\/\/pump.fun\/coin\/2JcXacFwt9mVAwBQ5nZkYwCyXQkRcdsYrDXn6hj22SbP\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">Mini<\/span><\/a><span style=\"font-weight:400\">, and so on. Each one a massive success in its own right.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">\u201cPump.fun changed the game,\u201d pseudonymous trader and <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/226638\/crypto-cat-fight-legal-claws-out-solana-meme-coin-shark-cat\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">Shark Cat<\/span><\/a><span style=\"font-weight:400\"> deployer <\/span><a target=\"_blank\" href=\"https:\/\/x.com\/0xExorcized\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">0xWinged<\/span><\/a><span style=\"font-weight:400\">, who also has the <\/span><a target=\"_blank\" href=\"https:\/\/pump.fun\/profile\/0xwinged\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">most followed profile on Pump.fun<\/span><\/a><span style=\"font-weight:400\">, told <\/span><i><span style=\"font-weight:400\">Decrypt<\/span><\/i><span style=\"font-weight:400\">. \u201cIt became a close knit community of degens who would ape sub $10,000 market cap shitters, as opposed to traditional meme coins like <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/resources\/dogecoin-crypto-cryptocurrency-guide-how-to-buy-doge\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">DOGE<\/span><\/a><span style=\"font-weight:400\">.\u201d<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Before long, celebrities and pop culture icons would take notice of Pump and join the fun. Olympic gold medalist <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/233084\/caitlyn-jenner-solana-meme-coin-crashes-ethereum-donald-trump\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">Caitlyn Jenner<\/span><\/a><span style=\"font-weight:400\"> shocked crypto industry observers when, in May, she created a token on Pump.fun with the help of celebrity wrangler <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/232565\/crypto-promoter-who-launched-caitlyn-jenner-solana-meme-coin\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">Sahil Arora<\/span><\/a><span style=\"font-weight:400\">.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Arora went on to launch countless tokens on the platform for the likes of R&amp;B singer <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/236730\/jason-derulo-solana-meme-coin-surges-duped-promoter\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">Jason Derulo<\/span><\/a><span style=\"font-weight:400\"> as well as rappers <\/span><a target=\"_blank\" href=\"https:\/\/x.com\/zachxbt\/status\/1796074631410893180\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">Lil Pump<\/span><\/a><span style=\"font-weight:400\"> and <\/span><a target=\"_blank\" href=\"https:\/\/x.com\/richthekid\/status\/1795097857038389328?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1795097857038389328%7Ctwgr%5E0d8a66be154db16dad11daef25d70c929950a507%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fdecrypt.co%2F238523%2Ffake-iggy-azalea-token-airdrop-refunds-sahil-arora\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">Rich the Kid<\/span><\/a><span style=\"font-weight:400\">\u2014all of whom <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/232662\/caitlyn-jenner-says-meme-coin-creator-owes-her-lots-of-money\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">claimed to have been scammed by Arora<\/span><\/a><span style=\"font-weight:400\">.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Suddenly the platform was brimming with funny memes, <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/229889\/solana-meme-coin-creator-no-hands-couldnt-rug-lied\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">goofy performance art stunts<\/span><\/a><span style=\"font-weight:400\">, and big celebrities like <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/250891\/crypto-will-have-ass-iggy-azalea-no-apologies-cringe-party\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">Iggy Azalea<\/span><\/a><span style=\"font-weight:400\"> pushing the platform forward. But by the end of the month, a dark cloud cast a shadow over the launchpad.<\/span><\/p>\n<div class=\"relative w-full\">\n<blockquote class=\"twitter-tweet mx-auto\">\n<p lang=\"en\" dir=\"ltr\">Recently, a guy created a token called <a target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24Hands&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" data-wpel-link=\"internal\" rel=\"noopener\">$Hands<\/a> and posed with a paper under his chin saying, &#8220;I have no hands, I can&#8217;t do a Rug Pull.&#8221; <\/p>\n<p>But when it peaked, he pulled his hands out from behind his back and sold his tokens like a magician pulling a rabbit out of a hat <a target=\"_blank\" href=\"https:\/\/t.co\/MalhNvz3Pb\" data-wpel-link=\"internal\">pic.twitter.com\/MalhNvz3Pb<\/a><\/p>\n<p>\u2014 Rizz God (@Hirizzy) <a target=\"_blank\" href=\"https:\/\/twitter.com\/Hirizzy\/status\/1787499708996305084?ref_src=twsrc%5Etfw\" data-wpel-link=\"internal\" rel=\"noopener\">May 6, 2024<\/a><\/p>\n<\/blockquote>\n<\/div>\n<h2 class=\"sc-b2a202e4-2 bmropA gg-dark:text-white scene:font-itc-avant-garde-gothic-pro scene:font-light\" style=\"margin-top:2em;text-align:left;padding-bottom:16px;margin-bottom:16px;border-bottom:1px solid #dfe2e4\" color=\"#333\"><span style=\"font-weight:400\">Is Pump still fun?<\/span><\/h2>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">The so-called <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/230083\/meme-coin-devs-doing-wild-things-livestreams-pump-tokens\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">livestreaming meta<\/span><\/a><span style=\"font-weight:400\"> marked another turning point for the platform. Pump.fun token deployers started livestreaming on third-party sites in early May to pump their tokens. It started with a young mom who livestreamed on Kick and <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/229175\/livemom-livestream-mom-son-meme-coin\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">promised to perform sexual acts<\/span><\/a><span style=\"font-weight:400\"> if her son\u2019s meme coin \u201c<\/span><a target=\"_blank\" href=\"https:\/\/pump.fun\/coin\/B8ZVEmHiHQHBjrzVuTjfd566L8pSvcXiKRF3EkcRpNmD\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">LiveMom<\/span><\/a><span style=\"font-weight:400\">\u201d hit specific market cap milestones. The stunt didn\u2019t last long, and the pair then ghosted.\u00a0<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">It was, again, shocking<\/span><span style=\"font-weight:400\">\u2014valuable currency in the attention economy. And it only seemed to encourage others to push the envelope further.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Later that same month, a Pump.fun dev <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/231807\/solana-dev-hospitalized-burns-pump-meme-coin\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">doused himself in isopropyl alcohol<\/span><\/a><span style=\"font-weight:400\"> while livestreaming and had fireworks shot at him, instantly going up in flames. The dev, <\/span><a target=\"_blank\" href=\"https:\/\/x.com\/lonemikol?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1793707162692145432%7Ctwgr%5Ee5a43ea0b72962526c98ad7422782fa7744a5371%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fdecrypt.co%2F232266%2Fsolana-dev-burned-meme-coin-stunt-dare\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">Mikol<\/span><\/a><span style=\"font-weight:400\">, was rushed to hospital with <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/232266\/solana-dev-burned-meme-coin-stunt-dare\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">third degree burns across 30% of his body<\/span><\/a><span style=\"font-weight:400\">, later enduring <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/239539\/solana-dev-burned-himself-mount-everest-dare\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">months of rehabilitation<\/span><\/a><span style=\"font-weight:400\">.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">\u201cUnfortunately, when you combine the attention economy with the degeneracy of 4chan and crypto, you get a very unpredictable landscape of people willing to do literally anything to garner more attention,\u201d Richard Podgurski, who claims to have been the <\/span><a target=\"_blank\" href=\"https:\/\/www.instagram.com\/p\/C5Nz0bkrKJh\/\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">first person<\/span><\/a><span style=\"font-weight:400\"> to create a livestream token with <\/span><a target=\"_blank\" href=\"https:\/\/x.com\/livetwitchsol\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">LiveTwitch<\/span><\/a><span style=\"font-weight:400\">, told <\/span><i><span style=\"font-weight:400\">Decrypt<\/span><\/i><span style=\"font-weight:400\">.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Pump.fun leaned into it, quickly <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/232837\/solana-meme-factory-pump-fun-adds-livestreaming-feature-what-could-go-wrong\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">adding a native livestream feature<\/span><\/a><span style=\"font-weight:400\"> to its platform and establishing it where the the fringes of society gathered to create and comment on culture\u20144chan with meme coins.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">And in typical 4chan fashion\u2014where posting is anonymous and just about anything goes\u2014the lines between what was real and what was not soon became blurred. The vibe shifted. Things got dark. More socially conscious degens began <\/span><a target=\"_blank\" href=\"https:\/\/x.com\/heishin_eth\/status\/1868813946356154585\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">questioning<\/span><\/a><span style=\"font-weight:400\"> whether things were getting out of hand. All the while, Pump.fun\u2019s revenue figures kept soaring.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">It was around this time that a disgruntled Pump.fun employee, <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/288345\/pump-fun-attacker-withdraw-guilty\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">Jarett Dunn<\/span><\/a><span style=\"font-weight:400\"> (also known as <\/span><a target=\"_blank\" href=\"https:\/\/x.com\/STACCoverflow\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">Stacc<\/span><\/a><span style=\"font-weight:400\">)<\/span><span style=\"font-weight:400\">, <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/231099\/pump-fun-attacker-wanted-kill-solana-meme-coin-launcher\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">hacked the platform<\/span><\/a><span style=\"font-weight:400\">, draining it of around $2 million worth of funds. Dunn initially claimed to have acted as a whitehat, of sorts, and aimed to \u201ckill\u201d Pump for the harm he believed it was causing.\u00a0<\/span><\/p>\n<div class=\"relative w-full\">\n<blockquote class=\"twitter-tweet mx-auto\">\n<p lang=\"en\" dir=\"ltr\">And now; Magick: everybody be cool, this is a r o b b e r y. What it do, staccattack? I&#8217;m about to change the course of history. n then rot in jail. am I sane? nah. am I well? v much not. do I want for anything? my mom raised from the dead n barring that: \/x<\/p>\n<p>\u2014 based birdman stacc (@STACCoverflow) <a target=\"_blank\" href=\"https:\/\/twitter.com\/STACCoverflow\/status\/1791134470071865576?ref_src=twsrc%5Etfw\" data-wpel-link=\"internal\" rel=\"noopener\">May 16, 2024<\/a><\/p>\n<\/blockquote>\n<\/div>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Beyond the immediate financial hit that Pump suffered, the reputational damage that came with the hack would prove costly, even if just temporarily. According to a statement from a Pump.fun co-founder in a police report obtained by <\/span><i><span style=\"font-weight:400\">Decrypt<\/span><\/i><span style=\"font-weight:400\">, the company failed to close a $20 million funding round as a result of the hack, due to concerns with company management.\u00a0<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Court documents associated with the <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/244308\/pump-fun-attacker-pleads-guilty-london\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">charges against Dunn<\/span><\/a><span style=\"font-weight:400\"> would also reveal that Pump.fun is tied to Baton Corporation Limited, a company registered in the United Kingdom, which would later become very relevant. Pump.fun cofounders, however, dispute that the company is registered in the U.K. \u201cPump.fun never was and is still not a U.K. company,\u201d the pseudonymous Sapijiju told <\/span><i><span style=\"font-weight:400\">Decrypt<\/span><\/i><span style=\"font-weight:400\">.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">In the months that followed the hack, the stunts on Pump would only escalate, with the company\u2019s daily revenue gains marking <\/span><a target=\"_blank\" href=\"https:\/\/x.com\/Adam_Tehc\/status\/1862212885990007199\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">highs of more than $5 million by November<\/span><\/a><span style=\"font-weight:400\">. Over just a week period in November, users on the platform livestreamed themselves <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/293365\/animal-cruelty-self-harm-livestream-allegations-the-dark-side-of-pump-fun\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">harming animals<\/span><\/a><span style=\"font-weight:400\">, <\/span><a target=\"_blank\" href=\"https:\/\/x.com\/AltcoinGordon\/status\/1860627600097366129\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">recklessly firing of guns<\/span><\/a><span style=\"font-weight:400\">, and one even faked a suicide. That was the tipping point. Things had indeed gotten out of hand, even for Pump.fun, which responded by <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/293495\/pump-fun-drops-livestreaming-controversy\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">shutting down its livestream feature<\/span><\/a><span style=\"font-weight:400\">.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Still, the attention economy cuts both ways, and earlier this month the <\/span><a target=\"_blank\" href=\"https:\/\/www.fca.org.uk\/news\/warnings\/pumpfun\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">Financial Conduct Authority<\/span><\/a><span style=\"font-weight:400\"> in the U.K. issued a warning against the platform. In response, the team decided to <\/span><a target=\"_blank\" href=\"https:\/\/decrypt.co\/295355\/solana-pump-fun-bans-uk-users-regulator\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">geo-fence the platform, restricting access from those in the UK<\/span><\/a><span style=\"font-weight:400\">. Experts claim this could be just the start of the legal troubles for the platform.\u00a0<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">\u201cPump.fun must brace for potential legal liabilities tied to its content moderation under <\/span><a target=\"_blank\" href=\"https:\/\/www.justice.gov\/archives\/ag\/department-justice-s-review-section-230-communications-decency-act-1996\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">Section 230 CDA<\/span><\/a><span style=\"font-weight:400\">, including civil lawsuits from harmed users,\u201d said Cyber Attorney and Reputation Management Consultant <\/span><a target=\"_blank\" href=\"https:\/\/andrewrossow.com\/\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">Andrew Rossow<\/span><\/a><span style=\"font-weight:400\">. \u201cIt also faces risks of potential criminal investigations for wire fraud and potential violations of the U.S. Securities Act and EU data regulations.\u201d<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">That sounds like a lot for a couple trench warriors who had no idea what they\u2019d be getting into just 11 months ago. But it comes with the territory. As Pump.fun grows, so too will the risks and responsibilities<\/span><span style=\"font-weight:400\">. <\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Where does it go from here? Critics will say it\u2019s unsustainable. The music will eventually stop. But, for now, if 2024 has taught degens anything, it\u2019s that you\u2019ve gotta respect the Pump.<\/span><\/p>\n<div class=\"my-4 border-b border-decryptGridline\">\n<div class=\"text-start p-8 md:py-12 md:px-12 max-w-prose relative\"><span class=\"border-t-4 border-l-4 w-4 h-4 md:border-t-[6px] md:border-l-[6px] md:w-6 md:h-6 border-decryptPurple dark:border-decryptNeon gg-dark:border-cc-pink-2 absolute top-4 left-4 md:top-6 md:left-6\"\/><span class=\"border-t-4 border-l-4 w-4 h-4 md:border-t-[6px] md:border-l-[6px] md:w-6 md:h-6 border-decryptPurple dark:border-decryptNeon gg-dark:border-cc-pink-2 absolute rotate-180 bottom-4 right-4 md:bottom-6 md:right-6\"\/><\/p>\n<h3 class=\"font-akzidenz-grotesk font-bold text-xl md:text-3xl md:text-center gg-dark:text-white\">Daily Debrief<!-- --> Newsletter<\/h3>\n<p>Start every day with the top news stories right now, plus original features, a podcast, videos and more.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><script async defer src=\"https:\/\/platform.instagram.com\/en_US\/embeds.js\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In brief Pump.fun has made it so anyone can be a meme coin \u201cdev,\u201d lowering the barrier to crypto and opening the floodgates. As a result, more tokens have been created, bought, and sold this year than ever before\u2014driving degens to Solana. Love it or hate, Pump\u2019s impact has been undeniable, and it\u2019s Decrypt\u2019s Project [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4321,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4320","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/posts\/4320","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/comments?post=4320"}],"version-history":[{"count":0,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/posts\/4320\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/media\/4321"}],"wp:attachment":[{"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/media?parent=4320"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/categories?post=4320"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/tags?post=4320"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}