Solana memecoin launchpad Pump.fun has launched Glass Full Foundation, a new initiative to support various projects within its ecosystem.
“GFF will inject significant liquidity into ecosystem tokens to support our most diehard cults,” Pump wrote in its announcement on social media platform X.
In crypto, a foundation usually refers to a legal entity—often a nonprofit or similar organization—set up to oversee and guide the development of a project.
The social media post stated that GFF has already started its initial support for several projects with plans to deploy more capital. The foundation will facilitate Pump’s mission to expand the Solana ecosystem, the announcement added.
“The Foundation will help our mission of growing the Solana ecosystem exponentially,” the project said. However, the announcement did not disclose the source of the foundation’s capital or the criteria for which projects will receive liquidity.
Last month, Pump launched its native token as part of an initial coin offering, which raised $600 million in just 12 minutes. In the following week, the memecoin launchpad initiated a multimillion‑dollar buyback of its token, according to onchain analysts.
The platform has recently faced stronger competition from another Solana memecoin launchpad LetsBonk.fun, which is integrated with Raydium and backed by the Bonk memecoin community.
Pump.fun’s platform revenue has experienced a decline since its peak during the memecoin craze. Daily revenue plummeted from over $7 million in January to lows of around $200,000 earlier this month.
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