Why Pump.fun Remains the "God-making Land" for Meme

Since its launch at the beginning of 2024, Pump.fun has been the most high-profile meme coin launch platform in the Solana ecosystem. Initially just a low-threshold coin creation tool, it has grown in a year and a half into a comprehensive platform that integrates coin issuance, live streaming, and a creator capital market.

By August 2025, Pump.fun continued to lead the market with a cumulative revenue of $800 million and over 70% market share. Moreover, the platform has not remained stuck with the label of a “meme casino,” but has further consolidated its dominance through a series of moves such as live streaming, CCMs (Creator Capital Markets), and the Ascend dynamic fee mechanism.

Live Streaming: Turning Meme Coins into Social and Entertainment Events

In 2024, Pump.fun experimented with adding a live streaming feature, allowing creators to interact with the community while issuing coins.

Initially, this model sparked controversy due to excessive attention-seeking behavior: some people drank excessively, set fires, or even abused animals during live streams. In November 2024, the platform urgently took down the live streaming feature to rebuild its review mechanism. However, with its relaunch in 2025, the live streaming function gradually returned to normal and became the traffic hub of Pump.fun.

Data shows that live streaming not only increased user stickiness but also brought tangible income.

Take streamer Rasmr as an example: before Ascend went live, his daily income was only $5.12, but the day after the new fee mechanism was launched, his income soared to $2,290.

Another creator, Jytol, said that his average number of viewers during live streams was only 4, but after going live, it increased to 15, and his income rose from $2.33 to $9.30. Although the amounts are not huge, for ordinary creators, this growth rate far exceeds the profit models of traditional platforms like Twitch or Kick.

The significance of live streaming is that it turns the process of issuing meme coins into a social and entertainment event. Users are no longer simply buying coins, but interacting with creators in real time through live streams. As one streamer said: “Pump.fun allows ordinary people to earn money by live streaming in small communities, which is more than what I make on Twitch in a year.”

CCMs: The Prototype of Creator Capital Markets

Live streaming brings traffic, but how can that traffic be converted into long-term value? Pump.fun’s answer is CCMs (Creator Capital Markets).

Under the CCMs logic, every creator is not just a coin issuer, but also an “investable asset.” Users can indirectly bet on a creator’s reputation and influence through the tokens they issue.

For example, Pump.fun’s Basedd House brings together a group of contracted streamers who are both content creators and token issuers. Among them, creator Goon earned $9,400 in creator fees within three months.

This is essentially the financialization of “social capital”: the stronger a creator’s traffic and community stickiness, the more valuable their tokens become. Compared to traditional meme coins that rely solely on memes and short-term speculation, CCMs provide a framework that binds creators and users for the long term, driving Pump.fun’s transition to a creator economy platform.

Ascend: Institutional Upgrades Brought by Dynamic Fees

In September 2025, Pump.fun launched Project Ascend, completely reshaping the platform’s incentive mechanism. The core of the new model is dynamic fees: creators receive a portion of the fee from each transaction, but this proportion gradually decreases as the token’s market cap rises.

• When the market cap is between $88,000 and $300,000, creators can receive up to 0.95% of the transaction fee;

• As the market cap rises to $20 million, the fee rate drops to 0.05%, but by then the trading volume has increased significantly.

The results were immediate:

Within 24 hours of Ascend going live, creators collectively earned over $2.4 million, compared to just $198,000 the day before launch;

Some creators earned over $80,000 in a single day, a figure previously unimaginable;

The platform’s total fee income reached $2.55 million on launch day, at one point surpassing derivatives giant Hyperliquid.

As Dune analyst Adam Tehc said: “Creators are the core of the meme coin economy. Better incentives will strengthen their position in this ecosystem.”

User Experience: Minimalist Design and Instant Gratification

In addition to various clever design mechanisms, Pump.fun’s user experience is also the “soft power” that made the platform go viral. On Pump.fun, anyone can create a meme coin in just a few minutes by entering the token name, symbol, and uploading an image.

The platform uses a bonding curve pricing mechanism instead of traditional order books and liquidity pools, meaning users don’t need to learn complex trading rules:

• When users want to buy tokens, they send funds (such as ETH or USDT) to a smart contract. The contract calculates the current price based on the bonding curve formula and mints new tokens for the user. Since the issuance of new tokens increases the total supply, the price for the next purchase will be higher.

• Selling: When users want to sell tokens, they send the tokens back to the smart contract for burning. The contract calculates the price based on the supply and returns funds to the user. Since burning tokens reduces the total supply, the price for the next sale will be lower.

This clear and intuitive mechanism, combined with the platform’s real-time price curves and charts, delivers a strong sense of instant feedback.

Data shows that since 2024, Pump.fun has attracted millions of users to try issuing coins, many of whom are experiencing blockchain applications for the first time. It is precisely this minimalist UI and instant gratification that have made Pump.fun a natural incubator for meme culture.

Conclusion: From “Playground” to “Ecosystem”

Pump.fun’s leading position comes from its continuous evolution on multiple dimensions:

In terms of data, it has built a moat with absolute revenue and market share;

In terms of mechanisms, Project Ascend has transformed short-term speculation into a long-term creator ecosystem;

In terms of experience, the minimalist process and instant feedback have made it a natural breeding ground for memes;

And KOLs and the community have injected it with real momentum for dissemination and cohesion.

All of this means that Pump.fun is no longer just a “speculation playground,” but has truly become a creator economy platform.

So no matter how turbulent the meme track becomes—your big brother will always be your big brother. In the next explosive cycle, it will still be the stage that cannot be ignored.

Author: Seedco