Meme coin generation platform Pump has earned more than $5 million in fees since its launch and is expected to have annual revenue of $66 million

PANews reported on April 9 that, according to CoinDesk, the meme currency generation platform Pump has earned more than $5 million in fees in the ongoing meme currency craze on Solana since it was launched in March, becoming one of the most popular meme currency generation platforms in a relatively short period of time. One of the biggest revenue-generating apps in the world. Data shows that the platform made $300,000 on Solana in the past 24 hours alone. Based on current usage and growth trends, annual revenue forecast is approximately $66 million, according to DefiLlama.

Pump allows anyone to issue tokens with a capital of $2, after which they can choose the number of tokens, themes and meme images. When the market cap of any token reaches $69,000, a portion of the liquidity is deposited into Solana-based exchange Raydium and burned. Last week, the platform also expanded support for the Blast and Base networks. The attraction for traders is its built-in security mechanism: there is no possibility of a “rug pull” with tokens issued by Pump. Pump’s official website states: “Pump prevents Rug Pulls by ensuring that all tokens created are safe. Every token on Pump is issued fairly, with no pre-sale and no team allocation.”

Since Pump launched in March, tens of thousands of tokens may have been issued on its platform, but only a few have a market cap of over $10 million. The coins with the largest market caps currently are Shark Cat (SC), a cat wearing a shark hat, and Hobbes, named after the cat of well-known Solana trader Ansem, with market caps of $100 million and $35 million respectively.