The memecoin launchpad space has seen the emergence of two key players, Pump.fun on Solana and SunPump on Tron, each with its unique strengths and areas for improvement. A recent analysis by crypto investment and venture capital firm DWF Labs sheds light on the differences between the two platforms and their early revenue and token deployment success.
Pump.fun made its debut on the Solana network in January 2024, gaining modest traction in the market. However, SunPump’s launch on the Tron network in August 2024 sparked significant interest among investors and the community. Following SunPump’s entry into the market, Pump.fun managed to regain attention and maintain its competitive edge.
In terms of token deployment and revenue generation, Pump.fun initially outperformed SunPump. Two weeks post-launch, Pump.fun deployed 102.6k tokens, bringing in $5.8 million in revenue, while SunPump deployed 62.7k tokens, generating $4.1 million in revenue.
Both platforms have similar market cap requirements for decentralized exchange (DEX) listings, with Pump.fun set at $69.0k and SunPump slightly higher at $69.4k. The DEX conversion rates for both platforms are relatively low, with Pump.fun at 1.4% and SunPump at 2.1%.
Pump.fun offers lower fees and higher total revenue compared to SunPump. Creator rewards on Pump.fun amount to 0.5 SOL (approximately $65.0) for DEX listings, with no creator fees charged. In contrast, SunPump offers a higher reward of 888 TRX (around $138.5) but imposes a fee of 20 TRX (about $3.1).
Trading fees also vary between the platforms, with Pump.fun implementing a 0.5% trading fee and an additional $2.6 fee for the first buyer, while SunPump applies a flat 1% trading fee.
Despite their differences, both platforms utilize the bonding curve model. When market caps reach $69k, $12k of liquidity is deposited into Raydium or SunSwap and burned. Pump.fun, which has been in the market for eight months, has deployed 1.9 million tokens and generated $105 million in revenue. On the other hand, SunPump, being a newer player, is showing promising growth in daily token deployment and revenue, indicating its potential to catch up with Pump.fun.
DWF Labs chief Andrei Grachev lauded the analysis, acknowledging the rapid evolution of memecoin launchpads and the opportunities they present for investors and the crypto community.
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