Pump.fun Revives Solana Ecosystem with Custom Trading Pair Feature

Pump.fun has entered the crypto stock-meme pairing trend by launching its Custom Pair feature on the Solana ecosystem, allowing users to issue Pump.fun tokens paired with tokenized stocks, major crypto assets, and precious metals.

The feature, which supports 93 paired assets, including US-listed stocks such as BA, BABA, COST, DELL, IBM, LMT, RDDT, and SHOP, offers two modes: creator fees or cashback. In the former, the token creator sets a fixed fee rate of 0.05% to 1%, distributable to up to 10 addresses (updatable once after CTO); in the latter, the fee rate is 0.3% during the Bonding Curve phase, and 0.05% after Bonding is completed.

According to Pump.fun, the custom trading pair feature has generated significant revenue, with 50% of the revenue used for programmatic buyback and burn of the PUMP token. This move may be seen as a response to Robinhood Chain's recent dominance in the stock-coin Meme pairing trend.

Crypto trader Rune posted that Pump.fun holds over $2 billion in cash with a valuation of approximately $4.4 billion, making it one of the most influential platforms in the Meme coin market this cycle. However, he believes that Pump.fun should create more new products that have not been market-validated, rather than continuously replicating existing models.

The launch of the Custom Pair feature is expected to revitalize the Solana ecosystem, which has seen a decline in liquidity and trading activity compared to other ecosystems such as Robinhood Chain, BSC, and Base. Pump.fun's move may also be seen as an effort to compete directly with these ecosystems for user base, trading volume, and fee revenue.