Pump.fun

Pump.fun is run by Baton Corporation, Ltd., under British Virgin Islands law; court filings name Alon Cohen, Dylan Kerler and Noah Bernhard Hugo Tweedale as co-founders. CoinGecko lists no code repository or whitepaper for PUMP, and no public repository of Pump.fun's programs was found, so outsiders cannot review the code. In May 2024 a former employee who still had withdraw authority drained about 12,300 SOL (about $1.9 million) from bonding-curve contracts; Pump.fun paused trading and upgraded its contracts. The company keeps adding products, such as its own exchange PumpSwap and a perpetuals feature through Hyperliquid.

• Pump.fun: Terms and Conditions
• Wolf Popper LLP: Pump.Fun memecoin cases and investigations
• Pump.fun identifies $1.9 million exploiter as former employee in post mortem (The Block)

Before the July 2025 token sale, CoinDesk reported this allocation: 20% core team, 13% existing investors, 18% private sale, 24% ecosystem and community, and 12.5% actually placed in the public sale, all at $0.004 per token. The public sale closed in about 12 minutes and raised about $500 million by CoinDesk's count. No exchange-traded product for PUMP is recorded in the sources. PUMP is on the National Bank of Kazakhstan's April 2026 list of authorised unsecured digital assets. The UK FCA added Pump.fun to its warning list in December 2024.

• Pump.fun to Launch PUMP Token via ICO on July 12 (CoinDesk)
• Pump.fun Swiftly Raises $500M in Public Sale at $4B Fully Diluted Valuation (CoinDesk)
• List of authorized unsecured digital assets (National Bank of Kazakhstan)
• FCA warning: Pump.fun

PUMP started with 1 trillion tokens. Pump.fun says half of every dollar it earns goes to repurchasing PUMP on the open market and burning it, and from 28 April 2026 50% of revenue is locked for a one-year programmatic burn cycle. On 27 September 2026 its token page reported $465.35 million spent on repurchases and 168.31 billion PUMP burned (16.831% of supply), at about $1.40 million a day. Supply figures differ: the page showed 399.46 billion PUMP circulating, CoinGecko about 465.9 billion. The token page says PUMP gives no right to revenues, and no staking or governance function is described; unlocks of team and investor allocations are not published in the sources.

• Pump.fun: $PUMP token page
• Pump.fun (PUMP): CoinGecko API

DefiLlama counted about $1.13 billion of fees paid by users and about $460.5 million of revenue for Pump over the year to 27 September 2026; the launchpad earned about $311.8 million and PumpSwap about $117.5 million. Bonding-curve trades carry a 1.25% fee, of which 0.95% goes to the protocol. The activity behind this income is memecoin trading: Solidus Labs counted more than 7 million tokens issued on Pump.fun by May 2025, and only about 97,000 kept at least $1,000 of liquidity.

• DefiLlama: Pump fees and revenue
• Pump.fun docs: Fees
• 98% of tokens on Pump.fun have been rug pulls or an act of fraud, new report says (CoinDesk)