Details on what portion of the revenue from this Solana-based memecoin platform will be channelled towards the upcoming PUMP token via the “buyback-powered utility structure” remain hazy. It’s also unclear whether this will encompass revenues derived from PumpSwap, the decentralized exchange that was inaugurated earlier this year. Multiple attempts to reach out to Pump.fun for a comment were met with silence.

As per data from The Block, Pump.fun saw its daily revenue crest at over $7 million on Jan. 23, before settling down to around $1 million daily. The platform has raked in an impressive total revenue of approximately $677 million since its inception in early 2024, positioning it as one of the most successful startups in the crypto sphere.

A source close to the founding team, who wished to stay anonymous, shared with The Block, “The plan is still fluid, but the aim is to have a buyback linked to a part of Pump revenue generated. The idea is for tokens to be unlocked at the TGE for those who partake in the sale, be it private or public.”

Pump.fun initially hinted at a token launch in October of the previous year, when one of the co-founders, who was then unidentified, stated during an X Spaces event that they were “intending to launch a token in the future” to “reward our pioneering users.” Earlier this week, Blockworks reported that the startup is gearing up for an ICO valued at $4 billion. The company has yet to confirm or refute this report, which has sparked widespread discussion in the crypto world.

The PUMP token, set to be offered to both public and private investors, is predicted to be fully unlocked at the token generation event, as per two sources acquainted with the plan. Future token issuances are a possibility, although the total supply is projected to be capped at 1 trillion tokens.

At present, the team is pitching to private investors at $0.004 per token, with plans for a public sale in the pipeline within a fortnight, said one source. A portion of the sale is said to be conducted on exchanges including Binance, and an airdrop is anticipated. Roughly 25% of the token supply will be allocated for the public sale, with an additional 10% earmarked for the airdrop, one source speculated.

“All the revenue we’ve accrued so far is being poured back into the platform,” the founder revealed in October. “We aspire to establish something as monumental as Binance — even surpassing it. Our goal is to democratize this.”

Pump.fun is often lauded for breathing life back into the Solana ecosystem, which was pummelled by the downfall of significant SOL supporter Sam Bankman-Fried. The potential ICO appears to have invigorated recent user activity on Pump, which had been experiencing a notable decline since the year’s commencement. According to data from The Block, the percentage of “graduated” tokens — those that witness enough market activity to transition onto an affiliated decentralized exchange — has shot up to over 4% from a recent low beneath 1%.

Disclaimer: The Block is an autonomous media outlet that provides news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver unbiased, impactful, and timely crypto industry information. Our current financial disclosures can be found here.

© 2025 The Block. All Rights Reserved. This article is intended for informational purposes only. It is not to be utilized as legal, tax, investment, financial, or other advice.

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Pump.fun unveiled PumpSwap on March 20 with the aim of providing a platform for successful memecoins to transition directly to PumpSwap, thereby sidelining Raydium, one of the premier Solana-based exchanges and automated market makers (AMMs). As per The Block’s data, Raydium had handled a quarter of the total DEX volume in January, surpassing all other exchanges.

However, PumpSwap has quickly risen to the top among Solana DEXs. On a particular Saturday, PumpSwap facilitated 67.4% of the volume handled by multiple major Solana DEXs, while Raydium settled for the second-largest market share at 18.2%. No other exchange managed to capture more than 5% of the market, as per the dashboard.

PumpSwap has netted over $20 million in protocol fees, and liquidity providers have reaped over $5 million in fees. In addition, nearly 700,000 wallets have accessed the protocol. Despite PumpSwap’s success, Pump.fun has recently seen a decrease in exchange volume as the memecoin trading fever subsides. Pump.fun’s team has hinted at future plans for a native token launch.

In the meantime, Raydium is developing a memecoin launchpad named LaunchLab, presumably to rival Pump.fun, as previously reported by The Block. The Block continues to provide objective, impactful, and timely information about the crypto industry, operating independently despite being majorly invested in by Foresight Ventures, which also invests in other crypto companies, including crypto exchange Bitget, an anchor LP for Foresight Ventures.

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