The post Solana’s Pump Fun Removes Fees, But Will it Stop Rug Pulls? appeared on BitcoinEthereumNews.com.

Pump Fun, a meme coin launchpad based in Solana, has made some big changes that could affect the meme coin environment. The platform became very popular during the meme coin craze. It is now giving away free token launches and a reward of 0.5 SOL ($80). This is being given to creators who make it through the token bonding curve. Creators get it as soon as get their tokens listed on the Raydium decentralized exchange (DEX). In the latest update to Pump Fun, creators no longer have to pay the $2 fee to the platform. Currently, the first buyer pays for launching a meme coin, so creators don’t have to pay anything to get their coins onto the market. The platform’s choice to get rid of the launch fee comes with a growing interest in Pump Fun. The popularity has come due to its easy-to-use interface and the Solana blockchain’s low transaction costs. Pump Fun 0.5 SOL Reward for Bonding Curve Completion In a post on August 9 on X (formerly Twitter), Pump Fun announced that creators will now get 0.5 SOL. It is conditional on whether their tokens make it through the bonding curve and are launched on Raydium. Today we’re introducing 2 HUGE changes to the pump fun mechanism (in beta) 1) Coin creation is FREE 2) Coin creators receive 0.5 SOL (~$80) when their coin completes its bonding curve How does it work? 1) Instead of the creator having to pay ~$2 for coin creation, this cost… pic.twitter.com/Zp7DCJQoya — pump.fun (@pumpdotfun) August 9, 2024 The bonding curve model is a fundamental component of how the platform works. It makes sure that there is always liquidity for a token once it hits a certain market cap, in this case, $63,000. This model makes price increases predictable and makes sure…

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Filed under: News - @ August 9, 2024 5:14 pm