Recently, Pump.fun Co-founder Alon Cohen shared insights with followers about various aspects of the token-launching platform.
Key highlights from Alon’s conversation with Bankless include the platform’s 4Chan-inspired design and communication style, its token-burning mechanism, and its revenue-sharing policy for creators.
The Next Chapter for Pump.fun
Pump.fun is a platform that enables users to easily create and launch new tokens, primarily meme coins, at low costs and high speeds. Dune data showed that Pump.fun has generated over 8.8 million tokens, accounting for more than 61% of all tokens issued on Solana.
Amid a 95% drop in platform revenue, Alon revealed in a conversation with Bankless that Pump.fun is experimenting with a revenue-sharing mechanism for token creators. Some transaction fees will be returned to token creators, encouraging them to build higher-quality projects.
This initiative aims to attract more users and enhance the ecosystem’s sustainability. Pump.fun peaked in 2025 with a record daily revenue of $14 million. Moreover, the platform uses a “bonding curve” model, which helped it achieve an impressive $600 million in revenue.
“At Pump.fun, we’ve implemented a bonding curve model. You know, that mechanism where token prices increase as more people buy in. And it’s been a game-changer, driving us to an incredible $600 million in revenue since we started.” said Alon
Alon also stated that Pump.fun has introduced mechanisms to minimize meme coins’ “extractive” nature. It will increase transparency and attract more users. These include a token-burning mechanism and adopting low, transparent fees to prevent scam projects (rug pulls).
At the same time, Pump.fun embraces a 4Chan-inspired design and communication style—a forum widely known for its meme culture. This approach has helped the platform attract many young users passionate about meme coins. Alon emphasized that Pump.fun’s success comes from meeting the community’s needs: a simple, user-friendly, and entertaining platform.
The launch of PumpSwap has sparked speculation about a potential shift in Pump.fun’s business model, suggesting competition with Raydium. However, Alon clarified that Pump.fun focuses on token creation and community-building, whereas Raydium specializes in trading and liquidity.
“PumpSwap is a crucial step that will help grow the ecosystem through a more accessible, rewarding, and sustainable mechanism.” said Alon.
While PumpSwap allows Pump.fun to compete directly with Raydium, Alon stressed that the primary goal is to make token creation easier for users.
The meme coin market is in decline, with market capitalization dropping 49% from its peak of $125 billion in December 2024. In early March, it even fell to just $54 billion. This signals the possible end of the “supercycle” of explosive growth.
Alon predicts that meme coins will continue to exist and evolve despite the downturn. However, the industry needs innovations to reduce speculation and increase real-world value:
“Meme coin projects can integrate additional features, such as NFTs or games, to create long-term value. Pump.fun will continue to support creativity in this space while also encouraging more meaningful projects.” Alon shared in the podcast.
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