• Similar Pump.Fun platforms have already been developed on Aptos
• Pump.Fun’s graduation rate has fallen below 1%
• The platform’s revenue is declining, with its protocol fee revenue below $800,000

Earlier in the day, Aptos shared a cryptic post on X, featuring the logo of Pump.Fun accompanied by the phrase ‘Aptos pilled’. Naturally, this has led to speculation of Pump.Fun potentially migrating to the Aptos blockchain, or at the very least, some kind of a collaboration between the two.

While there’s no concrete evidence to confirm anything, it’s worth noting that platforms similar to Pump.Fun, such as Emojicoin, have already been developed on Aptos, indicating that the ecosystem supports such initiatives. Emojicoin enables users to create, trade, and swap emoji-tickered meme coins, adding a layer of creativity to the meme coin space.

On the other hand, Pump.Fun is a popular platform that allows users to create and trade meme tokens, primarily operating on the Solana blockchain. It has already established itself as a popular choice, though it has seen better days as of late.

Starting from mid-February toward today, the platform’s graduation rate (the percentage of tokens that progress from incubation to full tradeability on Solana decentralized exchanges) has fallen below a measly 1%. This points to a huge decrease in the success of newly launched memecoins on the platform.

Why Might Pump.Fun Be Considering a Change?

In addition, Pump.Fun’s revenue has been declining since it reached a four-month low. Today, the platform’s protocol fee revenue stood at just slightly below $800,000, which is a big decline compared to late January when it was over $15 million. 

This could indicate a waning interest in Solana-based meme coins or just meme coins in general.

Is There any Truth to This?

Technically speaking, there are some grounds on why Pump.Fun would utilize Aptos. For instance, multi-chain expansion is becoming more common, as projects seek to tap into different liquidity pools and communities. Furthermore, Solana is already filled with meme coin projects and on Aptos, the competition is much lower.

So will this be one big nothingburger or is there some merit to the rumors of collaboration or even migration? Overall, it’s hard to say but considering Pump.Fun’s current state, it makes sense for something to happen.