As the craze for memecoins keeps hitting the Solana ecosystem hard, I decided to check out two popular spots for launching SPL tokens: Pump.fun and Solr Network. Here’s a quick rundown of what went down with both platforms.
Pump.fun
So, Pump.fun is pretty much a big deal in the Solana token launch world—it’s behind over 83% of all new tokens as of May 2024. The platform is super easy to use and is all about fair play—no presales or sneaky stuff, which is great if you want to whip up a memecoin fast.
Launching a token on Pump.fun? Piece of cake. Just pick a name, decide on a ticker, throw up a JPG, and boom, your token is live. It literally takes minutes and costs just about $3.16 (that’s 0.02 SOL). But don’t let the ease fool you. It is a minefield rigged wit bots and scams. I did not manage to attract any major investment in my token since I did not indulge in any wash trading. I simply sat hoping someone will read the purpose behind the token and realize some potential and buy. Well, that didn’t happen. Also, In May 2024, Pump.fun got hit by a nasty $2 million flash loan attack that messed with its pricing system and led to some big money losses. They’ve tried to beef up security since then, but it’s a heads-up that you gotta stay sharp and think about the risks.
Solr Network
After the drama with Pump.fun, I needed something a bit more solid. That’s where Solr.Network came in. Their Solana Token Creator tool is the real deal. No need to know any coding, and in just a minute or two, you can have your own SPL token. Sure, it costs a bit more at 0.1 SOL (around 10 bucks), but the smooth experience makes up for it. The design is user-friendly, and their support team is on point—they get back to you fast and know their stuff. After creation I needed a few more steps to launch my token on Raydium DEX like creating an openbook market ID and LP pool . Then I started to market my token – the legitimate way. After a week or so, I am seeing some interest in my token, which is not bad to be honest. And I must say I am enjoying the slower but more predictable ride. THe more work you put in spreading the word, more people come in.
Wrapping It Up
Both Pump.fun and Solr.Network have their perks. Pump.fun is all about speed and ease, perfect for quick memecoin launches. But that’s the only purpose.
On the flip side, Solr.Network might cost a little more – SOL and time-wise, but you get what you pay for, a straightforward way to create real SPL Solana tokens without being limited to pump.fun world.