The success rate of deploying memes issued on pump.fun to Raydium is less than 1.5%

According to data from Dune Analytics, the success rate of deploying tokens created on pump.fun to the DeFi protocol Raydium is only 1.41%, and since May, the success rate has remained between 1.21% and 1.41%.

Pump.fun allows anyone to quickly deploy memes by providing their name, code, and JPG image, even at a cost of less than $2. Users do not need to provide any startup capital, and the liquidity pool funds are raised from the community. Once the token market value successfully reaches $69000, $12000 of liquidity will be automatically deposited into Raydium and the LP token will be destroyed.

Cinneamhain Ventures partner Adam Cochran commented on the social media platform on Friday (2nd) that the "promotion rate" of pump.fun's coins has stagnated at around 1.4%, and no new coins have "truly broken through" the $20 million "fully diluted valuation" (FDV) level (an indicator of the total value of cryptocurrencies in full circulation). "All of this indicates that we are finally going to clear the meme cycle.

Web3 developer Bread pointed out that out of the 1.58 million tokens created, only 22300 actually landed on Raydium.

However, other commentators believe that this success rate does not reflect the overall situation of the cryptocurrency market. Anonymous cryptocurrency commentator Bunjil believes that pump.fun did not destroy memes, but rather demonstrated how easy pump.fun made memes creation.

Although only a few tokens have been successfully launched, these tokens have brought considerable fee income to pump.fun, even surpassing Ethereum several times. According to DeFelLlama's data, pump.fun collected approximately $864000 in fees within 24 hours, which is about 57% higher than Ethereum's $550000 during the same period.

Pump.fun has sparked a craze among overseas celebrities, including transgender media personality Caitlyn Jenner, American celebrity Iggy Azalea, and Jason Derulo, who have been using their own images to create and promote cryptocurrency through Pump.fun since May. However, most of these celebrity coins have since experienced significant declines. Ethereum founder Vitalik Buterin has also publicly criticized this behavior.

Related articles: "What is Pump.fun? How to master meme storytelling to become the most profitable application in the Solana ecosystem", "The chaos of D-level celebrities issuing coins in the United States intensifies! Pull up and sell to harvest fans and retail investors", "Ethereum founder Vitalik reviews the chaos of celebrity coin issuance: So far I am quite dissatisfied"