Revamped Fee Structure at Pump.fun Boosts Earnings for Memecoin Developers, As Snorter Token Approaches $4 Million Mark
In the rapidly evolving world of cryptocurrency, a new player is making waves - Snorter Bot, a Telegram-based trading bot specialising in memecoins and altcoins on the Solana blockchain. Its official token, Snorter Token ($SNORT), is at the heart of this exciting development.
Pump.fun, the biggest launchpad platform on the Solana blockchain in terms of revenue and market cap, is the driving force behind Snorter Bot. The last 30 days have seen Pump.fun's launchpad market skyrocket to over $50 million in revenue. This meteoric rise is expected to benefit Snorter Token ($SNORT), potentially leading to price increases.
One of the key advantages of Snorter Token is the reduced transaction fees it offers. Holding $SNORT lowers transaction fees to 0.85%, significantly below the 1% industry average for bots. This competitive edge could attract a larger user base and boost the token's value.
Snorter Bot's unique features include automated trading with near-instant reaction time and a honeypot detection engine with an 85% success rate in beta testing. The bot will initially support Solana, with additional support for Ethereum, BNB, Polygon, and Base coming after launch.
Pump.fun's revamped fee structure, Project Ascend, is another game-changer. This plan removes flat fees and bases charges on the coin's market cap. Higher-cap coins will have lower fees, allowing creators to leverage on early growth and reinvest. This revamped structure is designed to attract large investors to new coins once they take off.
The presale for Snorter Token is currently ongoing, with the token priced at $0.1033. The presale has already raised over $3.6 million in token reservations, a testament to the growing interest in this innovative project.
Investment in Pump.fun's own ecosystem has also been significant. Since July 15, Pump.fun has invested about $100.80 million worth of PUMP tokens in its buyback program. This move aims to enhance the Pump.fun ecosystem's trustworthiness and reduce the circulating supply by 6.794%, strengthening its position against competitors like Raydium and Bonkfun.
Pump.fun temporarily lost the revenue crown to Bonkfun in July, capturing 77% of the market share ($37M). However, Pump.fun is aiming to capture 68% of the market share this month, posting $35M in revenue.
Snorter Token staking rewards could reach up to 125% APY before a pre-Q4-2025 release. Holding $SNORT also unlocks unlimited trades per day for mirrored trading and grants access to a high-speed Solana RPC for executing sub-second transaction orders.
Alon Cohen, co-founder of Pump.fun, stated that high fees have hindered the growth of Pump.fun meme coins. The revamped fee structure aims to address this issue and foster a more inclusive and profitable ecosystem for all.
As Snorter Bot and Snorter Token continue to evolve, they are set to redefine the memecoin and altcoin trading landscape on the Solana blockchain. With its competitive fees, innovative features, and strong backing from Pump.fun, Snorter Token is poised to make a significant impact in the cryptocurrency world.
