- For the past 24 hours, the memecoin launchpad has generated the highest daily revenue in all of DeFi.
Pump for Memecoin Launchpad.Fun surpassed Ethereum to produce the biggest gross revenue in the history of Decentralized Finance (DeFi) in the previous 24 hours.
According to DeFiLlama, the platform earned $867,429 on the previous day as opposed to Ethereum’s $844,276. As memecoin infrastructure continues to dominate in DeFi, the third-highest revenue producer of the day was Trojan, a Telegram trading bot located in Solana.
According to DeFiLlama, Pump.Fun is bringing in $315 million annually and has been averaging $906,160 each day for the past week.
Pump.fun’s domination is the result of the recent memecoin mania. For on-chain degens, solana-based memecoins have been the predominant drug of choice.
In just a few minutes, non-technical individuals can launch their own tokens using the app. Users are not obliged to supply any liquidity up front, and they can launch their token for as low as $2. In order to create a secure liquidity pool, Pump.Fun lets new tokens trade along a bonding curve until they hit a predetermined market capitalization of about $75,000. At that point, the bonding curve is burned to Raydium.
Pump.Fun makes money by charging accumulated fees. A 1% fee is levied by the site on all transactions that occur there. Pump.fun is unable to impose the 1% fee once a token bonds and is burned to Raydium.
Ether, the second-largest cryptocurrency with a $395 billion market valuation, is housed on the Ethereum blockchain. It safeguards more than $60 billion in worth of smart contracts and supports thousands of digital assets in addition to hundreds of apps.
Users must pay fees, called “gas” and measured in ETH, to execute transactions and smart contracts on Ethereum in order for the platform to make money.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
