Secondlane offers 1% equity stake in Pump.fun at $15m FDV
Secondlane offers 1% equity stake in Pump.fun at $15m FDV
SecondLane, a private markets trading platform, has listed a 1% equity stake in Pump.fun, a Solana-based memecoin protocol, for $15 million, placing its fully diluted valuation (FDV) at $1.5 billion. The listing follows Pump.fun’s strong financial performance, with $86 million in fee revenue over the past month and cumulative earnings surpassing $225 million, according to DefiLlama.
Pump.fun is among the top blockchain earners, ranking just below major players like Circle and Uniswap. Despite its success, the platform has yet to release a native token. In October, Pump.fun hinted at a forthcoming token launch alongside the introduction of an upgraded trading terminal called “Pump Advance,” though no specific timeline was provided.
Memecoins: A booming yet divisive market
Memecoins, fueled by venture capital and market speculation, now command over $122 billion in market capitalization, according to CoinGecko. Pump.fun has capitalized on this trend with features like one-click coin launches for under $2 and personalized trading feeds based on user activity. However, data from Dune Analytics shows that only 2% of memecoins proposed on Pump.fun successfully launch, raising questions about the platform’s broader impact.
Opinions on memecoins remain divided. Supporters like Murad Mahmudov argue that memecoins serve a purpose by removing speculative premiums from altcoins. Critics, such as Jimmy Song, label them as speculative gambling, cautioning against their volatility and risks to investors.
With a growing user base and strong revenue streams, Pump.fun’s equity sale represents significant interest in the memecoin market. However, as memecoins continue to polarize opinions, platforms like Pump.fun will need to balance innovation with investor caution to sustain their growth.
Previously, Pump.fun ceased broadcasts amid disagreements over content moderation.
