Will Pump Fun allow the Solana chain environment to quickly BNB chain?

Author: NingNing Source: X, @0xNing0x

Recently, I heard a saying: Pump fun is poisoning Solana's ecological environment, which will lead to the rapid BNB chainization of the Solana chain environment. By then, the Solana ecosystem will no longer be able to grow high-quality assets, and there will be 3-second Rug dogs and ground-pushing Ponzi disks everywhere, just like the current BNB chain.

This worry is not without reason. The emergence of Pump fun, by combining the bonding curve of the primary market and the AMM algorithm of the secondary market, standardizes the issuance of meme coins and then industrializes them. The issuance of meme coins is a completely free competition market. In such a game pattern, the more DEVs that take advantage of the opportunity to withdraw from the second-level RUG, the more they can become the winners of the market by dispersing risks and enhancing capital efficiency in disguise. In the end, all meme issuing teams in this market no longer have a pattern.

According to the on-chain data, Pump fun-related TXs have recently accounted for 38.4% of the total TXs. Solana has quietly transformed from an instantiation of the public chain ecology of American liberal encryption concepts and a paradise for fun people in North America to a Southeast Asian Rug disk paradise and a concentration camp for gambling dogs. Solana 1.0 version of Meme coin, the pastoral idyll of happiness, playing memes, and making extra money is no longer there. Now we have entered the era of industrialized harvesting and anti-harvesting. Every day, there are MEV Bot wars, Telegram Bot wars, insider manipulation of smart money addresses, and farces of outside celebrities issuing coins for harvesting.

So far, the total number of deployed txs of Pump fun is about 1.4217 million. Here, 1 tx represents the deployment of 1 meme coin. You can count the number of meme coins with a market value of more than $10M from Pump fun, and you will understand that Pump fun is essentially a negative EV slot machine with a small win rate and low odds. Being addicted to Pump fun is ultimately fueling the income of other platforms. Pump fun has currently earned 444,300 Sols, which are all the dedication of gambling dogs who fantasize about getting rich overnight.

Currently, Solana's staking income is about 7%, and the average monthly risk-adjusted return is 6.18%. Holding SOL and staking, and then doing nothing, can get very generous returns. But most people cannot understand the mystery of "Can you hold on?" They think that staying up late to play the game is hard work, but they don't know that they are destined to waste precious SOL.