Memecoin creators on Pump.fun anticipate a 10-fold increase in fees as the Snorter Token approaches a valuation of $4 million, signifying a planned overhaul of the platform's financial structure.
Pump.fun, the largest launchpad platform on the Solana blockchain in terms of revenue and market cap, is making waves in the meme coin trading market with its latest initiative. The platform, known for its investment of over $44M into its own $PUMP token, is aiming to boost confidence in the Pump.fun ecosystem.
One of the key components of this initiative is Project Ascend, a plan to revamp Pump.fun's fee structure for memecoin creators. This revamp removes flat fees and replaces them with fees based on the coin's market cap, a move designed to attract large investors to new coins once they take off.
Meanwhile, the Snorter Token, the official token of Snorter Bot, a Telegram-based trading bot that simplifies trading memecoins, is currently in the presale phase. The Snorter Token, symbolised as $SNORT, is priced at $0.1033 during this presale.
Alon Cohen, co-founder of Pump.fun, has stated that high fees have hindered the growth of Pump.fun meme coins. In response, the Snorter Token's revamped fee structure aims to address this issue, with holding $SNORT lowering transaction fees to 0.85%, significantly less than the 1% industry average for bots.
The increased number of meme coins on Pump.fun due to its revamped fee structure may lead to a potential increase in the value of Snorter Token. This is further boosted by the fact that the Snorter Token presale has already raised over $3.6M in token reservations.
Snorter Bot offers several benefits to its users. It can automatically trade a dynamically curated list of the best altcoins, with near-instant reaction time. Moreover, its honeypot detection engine, currently in beta testing, has a 85% success rate in warning about potential rugpulls.
Holding $SNORT also unlocks unlimited trades per day for the mirrored trading function and grants access to a high-speed Solana RPC for executing sub-second transaction orders.
In addition, Snorter Token holders can potentially lock in staking rewards of up to 125% APY ahead of a pre-Q4-2025 release. The Snorter Bot, although already launched in 2025, is currently in a presale phase with high interest, but no exact release date has been specified yet.
Pump.fun's revamped fee structure also benefits higher-cap coins, with lower fees allowing creators to leverage on early growth and reinvest back into marketing and exchange listings. This could potentially lead to a more vibrant and dynamic meme coin trading market on the Solana blockchain.
With its focus on solving problems of reaction time and scams in the memecoin trading market, Pump.fun and Snorter Token are set to revolutionize the way memecoins are traded on the Solana blockchain. The platform plans to expand its support to Ethereum, BNB, Polygon, and Base after launch, making it an attractive option for a wider range of users.
Read also:
- Tesla is reportedly staying away from the solid-state battery trend, as suggested by indications from CATL and Panasonic.
- Review of the 2025 Lamborghini Revuelto: Blazing Beasts on Wheels
- Tech giant Apple debuts sports app integrating betting odds provided by DraftKings
- Examining Digital Payment Cards in Nigeria (2025)
