The real data of pump.fun revealed: a graduation rate of 1.4%, and only 3% of users profit over 1000 dollars

Author: Karen, Foresight News

What is the real data on the pump.fun platform? What is the "graduation rate" of the tokens? How many tokens can reach a market value of one million or ten million dollars? What is the actual profit situation for users? This article will reveal everything.

Regarding the pump.fun platform, in short, it allows for the fair launch of Meme tokens without pre-sales or team allocations. During the initial launch phase of the tokens, these tokens are traded along the joint curve within the platform. Once the token exceeds the critical threshold of $69,000 in market value, $12,000 in liquidity will be deposited into Raydium and burned.

As for fees, the pump.fun platform charges a 1% exchange fee to trading users during the issuance of Meme tokens, which will continue until the token's market value reaches the $69,000 threshold. For token creators, before the platform policy adjustment (i.e., before early August), they need to pay a creation fee of about 0.02 SOL and, after reaching a market value of $69,000, pay a migration fee of 2 SOL.

It is worth noting that starting in early August, pump.fun introduced new rules, launching a free token creation feature and providing economic incentives for token creators who successfully complete the joint curve. Under the new rules, the cost of token creation has shifted from the creators to the first buyers of the tokens, while creators who successfully complete the joint curve will receive a reward of 0.5 SOL (approximately $80), meaning the migration fee has been adjusted to 1.5 SOL.

A total of 1.8 million tokens deployed through pump.fun, but the "graduation rate" is only 1.4%

According to data from the Dune dashboard provided by Hashed, nearly 1.8 million tokens have been deployed on the pump.fun platform. Despite the current market's extreme volatility and a significant decline in the popularity of Meme tokens, the token deployment activity on the pump.fun platform has not decreased; instead, it continues.

Further analysis from the Dune dashboard created by @evelyn233 shows that in the past month, an average of over 20,000 tokens have been deployed daily on pump.fun. However, among this vast number, only a small portion of tokens, approximately between 100 and 200, have successfully launched on Raydium (i.e., exceeding a market value of $69,000 and meeting the "graduation" standard). This means that the recent graduation rate of tokens on pump.fun is at a low level of 1% to 2%, while the overall proportion of tokens that have successfully "graduated" on the platform is as low as 1.4%. Additionally, many of the tokens that have successfully "graduated" have not performed well in the subsequent market, with their market values nearing zero.

What does a 1.4% graduation rate really mean? To draw a comparison with college entrance examination rates, in 2023, the 985 rate in provinces like Shanxi, Hebei, Hunan, and Guangdong was around 2%. This indicates how difficult it is for tokens on the pump.fun platform to successfully "graduate."

Moreover, the developer who deployed the most tokens on pump.fun created as many as 3,357 tokens, but only 16 of them successfully "graduated." A total of 10 developer addresses created over 1,000 tokens, with the fifth address in total token creation having created 1,915 tokens, none of which "graduated."

The probability of reaching a ten million dollar market value is only one in a hundred thousand

Successfully launching on Raydium does not mean that the token's market performance will be smooth sailing. Further observation of the market performance of tokens after migrating from pump.fun to Raydium reveals that, although some tokens have successfully launched trading on Raydium, those that can cross the thresholds of ten million or one million dollars in market value are extremely rare.

As of the time of writing, among the nearly 1.8 million tokens deployed on the pump.fun platform, only 18 tokens, including michi, DADDY, BILLY, MOTHER, SCF (Smoking Chicken Fish), TrumpAvega, aura, and SC (Shark Cat), have successfully surpassed the $10 million mark, while the number of tokens exceeding $1 million in market value currently stands at only 96.

These data indicate that the probability of tokens created on pump.fun exceeding $10 million in market value is about one in a hundred thousand, while the probability of exceeding $1 million is only about one in twenty thousand. These figures reveal the intense competition and low success rates that are prevalent in the token market.

The proportion of new tokens created through pump.fun is steadily increasing

The chart below shows the changing proportion of new tokens created through the pump.fun platform compared to other newly created tokens on the Solana network. It can be observed that the proportion of new tokens deployed on pump.fun has shown a steady upward trend, recently reaching a 6:4 ratio.

Total fees on pump.fun have exceeded 0.1% of the total supply of SOL

The total fees on pump.fun have reached 624,640 SOL, which currently accounts for over 0.1% of Solana's total supply, equivalent to approximately $90 million at current market prices. It is noteworthy that pump.fun has only been operational for 7 months.

Additionally, according to Lookonchain's summary, the pump.fun fee account has sold 222,073 SOL at an average price of $160 over the past three months, exchanging for 35.54 million USDC.

2.43 million users, with daily active users between 50,000 and 70,000

Data from the Dune dashboard by @jhackworth shows that as of the latest statistics, the pump.fun platform has over 2.43 million users. In the past three months, the platform has maintained a high daily active user count of between 50,000 and 70,000 on most days.

Only 3% of users on pump.fun have profits exceeding $1,000

According to statistics from @adam_tehc, if you have profits exceeding $1,000, you can rank in the top 3% on the profit leaderboard.

If you earn over $10 million in profit on pump.fun, your profit ranking is in the top 6;

If you earn over $1 million in profit on pump.fun, your profit ranking is in the top 70 (accounting for 0.0028% of all wallets);

If you earn over $100,000 in profit on pump.fun, your profit ranking is in the top 924 (accounting for 0.037% of all wallets);

If you earn over $10,000 in profit on pump.fun, your profit ranking is in the top 11,936 (accounting for 0.477% of all wallets);

If you earn over $1,000 in profit on pump.fun, your profit ranking is in the top 76,587 (accounting for 3.061% of all wallets).

Update: According to Lookonchain, the post stating "0.477% of wallets have trading income exceeding $10,000 on pump.fun" is inaccurate; the address ranked first on the leaderboard has only traded a Meme token named HP, earning just 4 SOL.

In summary, even though the overall performance of the cryptocurrency market is relatively sluggish and the popularity of Solana has slightly declined, the user base and activity of pump.fun remain robust. Based on the existing data, as long as pump.fun can continue to maintain user activity, it is expected to continue generating stable fee income.

However, we must also be aware that a series of adverse factors currently exist. In particular, the extremely low "graduation rate" of tokens and the lack of subsequent market value growth, coupled with the unsatisfactory profit situation for users, have significantly impacted user confidence. In the short to medium term, this shaken confidence will directly affect the platform's user retention rate and its ability to attract new users.