In the fast-paced world of Solana meme tokens, Pump.fun has always been a powerhouse for launching viral hits. But now, it's not just about creating the next big meme coin—it's about trading them efficiently and empowering creators like never before. Recent developments have catapulted Pump.fun's own decentralized exchange, PumpSwap, to the top spot among Solana DEXs, all thanks to a groundbreaking update called Project Ascend. If you're into meme tokens or the broader Solana ecosystem, this is a game-changer you need to know about.

Let's break it down. PumpSwap, the trading arm of the Pump.fun platform, just smashed records by hitting an all-time high daily trading volume of $878 million in the past 24 hours. That's right—over $878 million worth of trades, outpacing heavyweights like Meteora and Raydium. For context, Pump.fun is the go-to spot on Solana for anyone wanting to spin up a meme token in minutes, and this surge shows how integrated trading is fueling the hype. The native $PUMP token? It's up over 40% in the last week, trading above $0.0048 according to CoinGecko.

What’s driving this explosion? Enter Project Asc

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end, launched on September 2 as Pump.fun's big push to make the platform more sustainable and creator-friendly. This isn't just a tweak—it's a full reimagining of how meme token creators can monetize their work. One standout feature is Dynamic Fees V1, where fees for creators start at 0.95% for tokens under $300,000 market cap and drop to as low as 0.05% for bigger projects. And get this: it's applied retroactively to all tokens on PumpSwap, so even established meme coins benefit right away.

Project Ascend also introduces Creator Capital Markets (CCM), blending live streaming with tokenized incentives. Imagine streamers on Pump.fun where fans buy into their personal tokens and share in the upside as the community grows. This shifts the creator economy from chasing ad views to building real ownership and long-term engagement. Post-launch data is impressive: creators claimed over $12 million in fees in the last seven days, with $1.7 million just in the past day. One standout stat? Creators raked in $2.4 million in a single day after the update dropped, making coin launches up to ten times more profitable.

Pump.fun isn't stopping at fees—they're buying back their own $PUMP tokens aggressively. Last week alone, they repurchased $12.19 million worth, which is 98.23% of their revenue from August 28 to September 3. That brings total buybacks to 5.363% of the circulating supply, a strong signal of confidence in the ecosystem. As the Solana Foundation noted on X, this model emphasizes "monetizing depth and building authentic community connections," moving away from superficial metrics like views.

Of course, not everything's perfect in meme token paradise. Some voices, like Meteora's Co-Lead Soju, have raised eyebrows about whether higher initial fees could encourage wash trading to game the system. And there's chatter on X about streamers earning big fees even as tokens crash—$13,990 in one case while a token dumped 80% in a minute. These concerns highlight the speculative side of Solana's meme scene, but they don't overshadow the innovation.

For blockchain practitioners and meme token enthusiasts, Project Ascend positions Pump.fun as more than a launchpad—it's evolving into a full-fledged creator hub on Solana. With PumpSwap leading the DEX pack, we're seeing how meme-driven liquidity can reshape trading volumes and reward genuine community building. If you're trading or creating on Solana, keep an eye on this; it could redefine how we think about the creator economy in Web3.

For the full scoop, check out the original report from SolanaFloor. What's your take—will Project Ascend sustain the meme token frenzy or spark the next evolution? Drop your thoughts in the comments.