pump.fun vs Photon
Pick pump.fun if you are creators launching a memecoin in one click, and traders buying early on the bonding curve before graduation. Pick Photon if you are solana traders already using Photon; verify current fees on the site before trading.
Checked 2026-10-16 · both venues' fee pagespump.fun is a memecoin launchpad where anyone can create a coin that trades on a bonding curve and graduates to its own AMM, PumpSwap. It runs on Solana and Robinhood Chain through a web app and iOS/Android apps, and also offers perpetuals routed to Hyperliquid.
Photon is a web trading terminal for Solana tokens. DefiLlama has tracked it since January 2024, with about $442M in lifetime revenue, though activity has fallen sharply since 2025.
Side by side
| pump.fun | Photon | |
|---|---|---|
| Type | Launchpad | Trading terminal |
| Status | live | live |
| Chains | Solana, Robinhood Chain | Solana |
| Platforms | web, ios, android | web |
| Custody | non-custodial | unverified |
| KYC | none | unknown |
| Platform fee, round trip | 0.9% | — |
| $1,000 round trip | $9.00 | — |
| Sign-up perk | Platform Fee drops from 0.45% to 0.40% of each app trade. | — |
| Perps taker / maker | — | — |
| United States | Partly available | Unverified |
| United Kingdom | Not available | Unverified |
| European Union | Available | Unverified |
| Launched | 2024-01 | — |
| Reported incidents | 2 | 0 |
Features
| Feature | pump.fun | Photon |
|---|---|---|
| bonding curve launches | ✓ | — |
| mobile app | ✓ | — |
| perps | ✓ | — |
| limit orders | ✓ | — |
| creator fees | ✓ | — |
| holder rewards | ✓ | — |
| referral program | ✓ | — |
| livestreaming | ✓ | — |
| voice chat | ✓ | — |
| multichain (Robinhood Chain) | ✓ | — |
"—" means the feature was not in the sources we checked, not proof it's missing.
pump.fun: watch out for
- In-app trades on the bonding curve cost 1.70% per side (0.45% Platform Fee plus 1.25% curve fees) from 2026-10-17.
- UK residents are prohibited from using the platform, and US persons cannot use perpetuals.
- The referrer's fee share is unpublished and can be changed to zero without notice.
Photon: watch out for
- Monthly revenue fell about 92% from Sep 2025 to Sep 2026, per DefiLlama.
- No fee schedule or referral terms could be verified from official sources.
- Solana only, per DefiLlama.
FAQ
Is pump.fun better than Photon?
Pick pump.fun if you are creators launching a memecoin in one click, and traders buying early on the bonding curve before graduation. Pick Photon if you are solana traders already using Photon; verify current fees on the site before trading.
Which is cheaper, pump.fun or Photon?
We could not compare published fees for both.
Can I use pump.fun or Photon in the US?
pump.fun: partly available. Photon: unverified. Based on each venue's own terms.
Sources
Last checked . Fees and terms change often; the venue's own page wins if it disagrees with ours.
- pump.fun Fees — checked 2026-10-16
- pump.fun Terms and Conditions (Last Updated 17 October 2026) — checked 2026-10-16
- Cointelegraph: Pump.fun ICO raises $500M, sells out within minutes (2025-07-12) — checked 2026-10-16
- DefiLlama: pump.fun protocol page (raises) — checked 2026-10-16
- DefiLlama Hacks database — checked 2026-10-16
- What Is Pump.fun? (Decrypt) - launched January 2024 — checked 2026-10-16
- Photon official site (blocked automated access) — checked 2026-10-16
- DefiLlama Photon revenue — checked 2026-10-16
- DefiLlama Photon fee adapter — checked 2026-10-16