Wassup degens @Pumpfun is a parasite on the @solana ecosystem pump.fun/ has already generated $1B+ in fees, but constantly dumps SOL worth hundreds of millions of dollars, selling tokens through Kraken to cover expenses and fund a $1B ICO at a $4B valuation. This created massive downward pressure on the SOL price (30%+ drops at peak, like after the June dump of 4.19M SOL for $751M), sucked $1.5B out of the ecosystem - money that could have gone to real projects instead of speculative hype. As a result, Solana turned into a “shitcoin chain”: builders left for other networks (dev activity down 40% from 2024 peak). Memes and pump-and-dump schemes aren’t innovation, they’re liquidity extraction. I just don’t understand why @toly at the dawn of the pump.fun/ hype didn’t launch an analog or something better? So that all the fees would go not to some outside team, but back into the ecosystem. That billion+ $ could have: - Been used to buy back SOL (stabilizing the price) - Airdropped SOL to degens (incentivizing holding and trading) - Supported real dApps But instead the money flowed out to fiat and offchain - the pump.fun/ team cashed everything out through Kraken, giving nothing back to Solana. In the end: SOL price fell below $150 (from 2025 peak), DEX activity down 60%, degen balances at zero. Sad. #SOL #memecoin
