The private market site reports that Pump.fun has $15 million equity up for grabs.
SecondLane has listed an equity interest in the memecoin protocol Pump.fun with a fully diluted valuation (FDV) of $1.5 billion.
The private markets trading platform priced the 1% equity stake in Pump.fun at $15 million, making it available on SecondLane’s web app and its Telegram channel, where new offerings are announced.
Pump.fun, a popular Solana-based memecoin platform, has not yet launched a native token. According to Pitchbook, it previously received equity investments from Alliance DAO, Big Brain Holdings, and 6th Man Ventures.
In October, the Pump.fun team hinted at plans for a future token launch and an upgraded trading terminal called “Pump Advance,” though no timeline was provided for the token release.
High Revenue and Memecoin Frenzy
Pump.fun ranks as the eighth highest-earning blockchain protocol, just behind established names like Circle, the issuer of USD Coin, and the decentralized exchange Uniswap, according to DefiLlama.
Over the past 30 days, it generated $86 million in fee revenue, and its cumulative fee revenue now exceeds $225 million.
This performance stems from a memecoin trading boom, predominantly on Solana, the platform’s native layer-1 blockchain.
The memecoin market as a whole has surged, reaching a market capitalization of over $122 billion, fueled by venture capital and political speculation, according to CoinGecko.
Pump.fun enables users to “launch a coin that is instantly tradeable for under $2 in one click” and offers a “For You algorithm” that adjusts in real-time based on user activity, as stated on its X account.
However, data from Dune Analytics shows that around 98% of memecoins proposed on the platform fail to launch successfully.
Mixed Reactions to Memecoins
The rise of memecoins has divided the crypto community. Some, like Murad Mahmudov, view memecoins as a valid use case for crypto, arguing they strip the speculation premium from altcoins.
Others, including Jimmy Song, consider memecoins a negative influence, describing them as the peak of speculative gambling.