TLDR: What is Pump.Fun? Pump.Fun is a low-threshold, low-cost way of launching your own meme coin. The platform works without pre-sales or pre-allocation. For a few dollars’ worth of SOL everyone can upload a picture, create a ticker and start shilling their coin to the community. Of course, most of the thousands of coins launched fail. But some have made it to a multi-million dollar market cap and have a listing on dexes.
Only when a new coin reaches the 70k market cap threshold, a liquidity pool is created and the coin starts trading on dexes like Jupiter. So, before that threshold, you can only buy and sell on Pump.Fun. After that, your coin can be traded publicly.
Since late March 2024, Pump dot fun’s popularity has taken off and is still on the rise.
How Does Pump.Fun Work?
Entering the Pump.Fun website, one is overwhelmed by flashing lights and flickering buttons. Everything screams you’re in a casino now. If you want to avoid developing an epileptic seizure, there are some toggles you can switch to cool down the hot mess.
We all want things to pump and we all want a bit of fun. So why not indulge, especially while we can do more than just trading here and can be creative: we can deploy our own coin.
- You connect your Solana wallet, for example Phantom
- You upload a picture
- You create a description
- You decide on a ticker
- Optional: adding links to the relevant social channels of the new coin
- You buy a few of your own coins (optional)
- You can start shilling your coin, on the platform or outside
They got support from Solana, Blast and Base, the top chains for memecoins.
How to Create a Coin on Pump.Fun
Creating a coin on Pump.Fun is a straightforward process that involves a few simple steps. Here’s a guide to help you get started:
1. Connect Your Wallet
Visit the Pump.Fun website and connect your Solana-compatible wallet, such as Phantom or Solflare. Ensure you have some SOL in your wallet to cover the necessary fees.
2. Start a New Coin
Click on the “Start a New Coin” button. You will need to provide details for your new coin, including:
- Name: Choose a memorable and unique name for your coin.
- Ticker: Design a concise and easy-to-remember ticker symbol.
- Description: Write a brief description explaining the purpose and use case of your coin.
- Image: Optionally, upload an image or logo to represent your coin visually.
3. Seed Initial Liquidity
You’ll need to provide a small amount of SOL (around 0.02 SOL, approximately $3) to seed the initial liquidity. This amount will initiate the bonding curve for your coin, which is used to set the price based on supply and demand.
4. Launch Your Coin
After filling in all the details and seeding liquidity, click the “Create Coin” button to mint your coin on the Solana blockchain. The process will take a few minutes, after which your coin will be live and tradable on the platform.
5. Promote and Manage Your Coin
Once your coin is live, you can promote it on social media and other platforms to attract buyers. As more people buy and sell your coin, its price will dynamically adjust according to the bonding curve.
I created my own coin on Pump.Fun.
I called it Spelling Error and gave it the ticker: WERE. Description:
‘For those who cherish the odd misspelling and are not ashemed.’
I bought…
Erik started as a freelance writer around the time Satoshi was brewing on the whitepaper.
As a crypto investor, he is class of 2020. More of a holder than a trader, but never shy to experiment with new protocols.
