Revitalizing the Solana Ecosystem: Pump.fun Enters Crypto Stock

Revitalizing the Solana Ecosystem: Pump.fun Enters Crypto Stock-Meme Pairings

WenserOdaily资深作者
@wenser2010
2026-09-10 09:46
This article is about 3143 words, reading the full article takes about 5 minutes
Will Crypto Stock Pairings Become Standard on Crypto Platforms?
AI Summary
Expand

• Core Viewpoint: Pump.fun has launched a custom trading pair feature that supports the paired issuance of Meme coins with tokenized stocks, aiming to revitalize the Solana ecosystem and compete with platforms such as Robinhood Chain, BSC, and Base. Crypto stock-Meme pairings are becoming a standard offering on crypto platforms.
• Key Elements:
  1. Pump.fun has partnered with Sunrise and xStocks to support 93 paired assets, with the first batch adding 20 tokenized stocks, including BABA, COST, DELL, and others.
  2. 50% of the revenue from this feature will be used for PUMP token buyback and burn; total crypto project buybacks this year reached $638 million, with Hyperliquid and Pump.fun together accounting for nearly 90%.
  3. Meme coin enthusiasm in the Solana ecosystem has declined, with a recent lack of projects surpassing $100 million in market cap. Pump.fun’s move is intended to revive the ecosystem and consolidate trading volume and user activity.
  4. Robinhood Chain’s network revenue yesterday was $1.42 million, below its peak of $5.44 million; Hyperliquid reached $1.8 million, and Pump.fun stood at $1.6 million, with the competitive landscape remaining closely contested.
  5. Trader Rune criticized Pump.fun’s strategy as leaning toward imitation rather than innovation, citing examples such as its acquisition of Padre and addition of social features as imitative behaviors following market validation.

Original | Odaily (@OdailyChina)

Recently, as the “stock-coin Meme pairing” trend on Robinhood Chain heats up, the Base and BSC ecosystems have also been accelerating their efforts to catch up. By contrast, the Solana ecosystem had been relatively quiet—until Pump.fun announced today the launch of its Custom Pair feature, supporting stock-coin Meme paired assets.

For many CEXs, DEXs, and launchpads, this round of “stock-coin Meme pairing” mania led by Robinhood Chain has become a significant incremental play in the crypto market, and a necessary path to competing for user base, trading volume, and fee revenue.

Pump.fun Enters Stock-Coin Paired Assets, Stock-Coin Memes Set to Become Standard for Crypto Platforms

In the early hours of this morning, Pump.fun officially announced the launch of its custom trading pair feature, allowing users to issue Pump.fun tokens on Solana paired with tokenized stocks, major crypto assets, and precious metals.

• In terms of asset variety, through a partnership with Sunrise, the first batch adds 20 tokenized stock paired assets, including US-listed stocks such as BA, BABA, COST, DELL, IBM, LMT, RDDT, and SHOP; combined with xStocks and Sunrise, a total of 93 paired assets are currently supported, with more to be added.
• In terms of ecosystem rewards, the Bonding Curve and PumpSwap protocol fees for the custom trading pair feature are consistent with standard Pump.fun token issuance, and 50% of the revenue generated by this feature will be used for programmatic buyback and burn of the PUMP token. Latest data shows that crypto projects have spent $638 million on token buybacks this year, up from $545 million in the same period last year; Hyperliquid and Pump.fun together account for nearly 90%.
• In terms of issuance revenue, custom pairs offer two modes: creator fees or cashback. In the former, the token creator sets a fixed fee rate of 0.05% to 1%, distributable to up to 10 addresses (updatable once after CTO); in the latter, the fee rate is 0.3% during the Bonding Curve phase (i.e., the internal pool phase), and 0.05% after Bonding is completed, with the relevant fees claimable by traders. Fees are paid in the pair’s quote asset—for example, for a token paired with NVDA, the fee rewards are paid in NVDA stock tokens.

Additionally, Pump.fun officially emphasized that the feature supports paired token CTO (community takeover), has no additional transfer tax, and asset pairings cannot be changed once established; all tokenized asset issuance is supported by third-party platforms, and Pump.fun does not provide actual stock asset buying or selling.

In one sentence: Pump.fun, leveraging its own token issuance model and the asset support of its two partners Sunrise and xStocks, has opened a window for issuing Meme coins paired with stock tokens.

Compared to platforms like Pons and Long on Robinhood Chain, platforms like four.meme and Flap on BSC, and on-chain token launch platforms in the Base ecosystem, Pump.fun’s advantages lie in: the market scale and user base accumulated through first-mover advantage, the flexibility of asset type integration within the Solana ecosystem, and the binding mechanism of PUMP token buybacks.

From the vantage point of Q3 2026, for trading platforms such as CEXs, DEXs, and launchpads, RWA assets have transitioned—or evolved—from single assets into stock-coin Meme paired assets. As a result, richer asset varieties, more flexible token issuance models, and more varied gameplay combining Meme coins with stock tokens have emerged.

For future crypto platforms, native cryptocurrencies, Meme coins, stock tokens, and stock-coin paired assets will together form an “asset map.”

Pump.fun Revives the Solana Ecosystem, Competing Head-On with Robinhood Chain, BSC, and Base

Yesterday, DefiLlama data showed that Robinhood Chain’s network revenue for the previous day was $1.42 million, below its historical peak of $5.44 million on September 4; during the same period, Hyperliquid Chain’s revenue was $1.8 million and Pump.fun’s was $1.6 million, both surpassing Robinhood Chain.

Undoubtedly, in terms of money-making capability, Pump.fun is one of the cash-flow machines that fears neither bull nor bear markets, and developing the stock-coin Meme asset pairing feature may have two considerations:

First, to revitalize the Solana ecosystem. This year, the Solana ecosystem’s performance in RWA asset issuance and the Meme coin ecosystem has been far less impressive than Robinhood Chain, which only officially launched in July, and also lags somewhat behind Base, backed by Coinbase, and the BSC ecosystem, backed by Binance. The reason Meme coins in the Solana ecosystem have lost heat compared to before is that the ecosystem no longer has enough liquidity to serve as “the last stop for Meme coins.” Recently, the Meme coins in the Solana ecosystem reaching $100 million market cap were ZCAT, which exploded in popularity due to ZEC, and USELESS, which Bonkguy kept shilling. Today’s Solana ecosystem Meme coin sector can aptly be described as being in a lull between generations. As the “blood-sucking machine” of the Solana ecosystem and a SOL token dumper, if the ecosystem continues to languish, it will be detrimental to the platform’s trading volume and activity growth, so venturing into stock-coin Meme pairing is only natural.

It’s worth noting that on September 7, Raydium, a leading DEX platform in the Solana ecosystem, also announced that its LaunchLab now supports arbitrary token trading pairs on Raydium. Revitalizing the Solana ecosystem—it’s a duty you cannot shirk.

Second, it’s an inevitability of direct competition with Robinhood Chain, BSC, and the Base ecosystem. Currently, although the broader crypto market has seen a short-term recovery, on-chain liquidity remains relatively limited. When one ecosystem’s trading volume rises and user base grows, it exerts a siphon effect on other ecosystems to some degree. In the long run, what the major ecosystems are competing for is still the most active Meme coin trading demographic and the revenue and trading fees they bring. Pump.fun’s launch of the custom trading pair feature both consolidates its existing base and seeks to attract mature users from other networks with new gameplay and asset issuance models.

Of course, how effective this will be remains to be seen. And Pump.fun’s move has not received one-sided praise and support.

Crypto trader Rune posted that Pump.fun holds over $2 billion in cash with a valuation of approximately $4.4 billion, making it one of the most influential platforms in the Meme coin market this cycle. But since launching the Bonding Curve model, its subsequent product expansions have largely followed after other teams validated market demand. He cited examples: after Axiom rose, Pump acquired Padre and renamed it Terminal; after fomo appeared, Pump added social features and competed for KOLs; after products combining Meme coins with stock-related assets appeared on BNB Chain, Robinhood, Stonks, and Base, Pump has now launched a similar MemeStocks feature.

On one hand, he believes this strategy is not ineffective—for example, after Padre was acquired, its market share rose from about 2% to 10%. But on the other hand, he believes that as a leading platform with substantial capital and reen market-validated, rather than continuously replicating existing models, which could weaken the incentive for smaller teams to innovate

Clearly, Rune’s point is “I think your capabilities are far greater than this”—as for the corresponding costs and risks of innovative products, he subconsciously overlooked them.

From a higher perspective, Pump.fun’s imitate-and-follow strategy is also a helpless choice for the Solana ecosystem: lacking a “last stop for liquidity”—a listing and trading platform—Solana needs to fill gaps that other ecosystems cannot even imagine.

However, some analysts recently noted that on-chain capital may be rotating from Robinhood Chain to Solana. Whether the Solana ecosystem can continue to produce multiple Meme coins with market caps exceeding $100 million and rekindle the 2024 Meme coin frenzy—we remain hopeful.

DEX
Base
Solana
Robinhood
Meme
RWA
Pump.fun
xStocks
Tokenized stocks
Hyperliquid
Welcome to Join Odaily Official Community
Subscription Group：
https://t.me/Odaily_News
Chat Group：
https://t.me/Odaily_GoldenApe
Official Account：
https://twitter.com/OdailyChina
Chat Group：
https://t.me/Odaily_CryptoPunk
Recommended Articles

2026 Stock Derivatives Explosive Growth: Crypto Exchange Landscape and Key Trends | RootData Research

Comparing Four Chains’ US Stock Tokenization: BNB Chain, Robinhood Chain, Base, Solana

USD/JPY Breaks 155 for the Third Time: The Twilight of Dollar Carry Trades?

Search
Article Catalog
Author Library
Wenser
@wenser2010
64-year-old Man Tops Fomo Leaderboard, “Diamond Hands” Bonkguy’s Meme Legend
AMC CEO Slams Robinhood Stock Tokens, Same-Named Meme Coin Unexpectedly Lifts the Stock Price?
Trump “Pump and Dump” Playbook: Rumors Pump the Price, Massive Sell-Off, Son Denies It All
Article Ranking
Daily
Weekly

64-year-old Man Tops Fomo Leaderboard, “Diamond Hands” Bonkguy’s Meme Legend
AMC CEO Slams Robinhood Stock Tokens, Same-Named Meme Coin Unexpectedly Lifts the Stock Price?
Solana is getting anxious: Official backing propels a memecoin past $100M market cap overnight, Toly looks to win over Robinhood
Tonight’s US Nonfarm Payrolls Big Test: “Good News” Is Also “Bad News”
Fomo “Top 4” Whale’s Practical Sharing: Earning $5 Million in This Meme Cycle Through Insight
Download Odaily App
Let Some People Understand Web3.0 First
IOSAndroid
About UsContact UsJoin UsFriendly LinksAdvertising Cooperation
User AgreementPrivacy PolicyDisclaimerOdaily Brand Media Kit | Official Logo & Visual Guidelines
Beijing Ruike Culture Media Co., Ltd.
京ICP备 2026027382号京公网安备11010502060861号

Source: www.odaily.news