The early success of $PENGUIN is proof that onchain trading was never dead, just a sleeping giant waiting for the right moment. Psychological barriers are only just beginning to get broken. Tons of opportunities ahead.

Before pump fun was invented, myself and my co-founders tried building a ton of different ideas. Consumer, DeFi, SocialFi, NFTs - none of it worked. One of the biggest problems we had (other than the fact that our solutions didn’t really solve anyone’s problems) is that we found it really difficult to get the products in front of users. Trying to get in touch with the right kinds of users was massively laborious. Distribution was such a huge challenge for us that one of my only New Year’s resolutions EVER was to get 10k followers on X in 2024. Only a few months after pump fun was launched, it clicked. Projects began launching tokens because they knew that 1) users loved buying into fresh ideas they thought had a chance of becoming successful and 2) there were millions of those kinds of people, which could become potential users and investors. Instant liquidity meant that you can get funded too. This eventually snowballed into onchain AI season, which showed builders and traders alike how big this opportunity - tokenizing early stage projects - could become. The numerous onchain metas we’ve seen since shows that the demand for good founders by traders and long-term allocators continues to be incredibly high, no matter the market conditions. Pump fun’s 3rd year will be all about optimizing our existing ecosystem while trying to expand it with big bets, such as betting on the startup ecosystem via initiatives like Pump Fund and the Build in Public Hackathon.