Explicit platform fees for trading memecoins (pump.fun vs Fomo vs Photon vs bots)
Live 24-hour protocol fee revenue divided by trading volume for each Solana memecoin platform. Fees sourced from Dune Analytics (on-chain fee wallet inflows, refreshed every 6 hours). Volume from Mobula lighthouse (refreshed every 15 minutes).
TL;DR. As of , pump.fun leads median fee at 0.12% (24h avg) on Explicit platform fees for trading memecoins (pump.fun vs Fomo vs Photon vs bots). Source: OpenChainBench, https://openchainbench.com/benchmarks/memecoin-platforms.
Read this carefully
Take rate = fees / volume * 100. Fees are on-chain inflows to known fee wallets (Dune query 8316589, refreshed every 6h). Fomo fees come from DeFiLlama (on-chain USDC + off-chain relay). Volume is total Mobula-attributed volume; the take rate is a lower bound since platforms with variable or waivable fees will show lower observed rates.
Solana memecoin platforms charge fees in different ways and at different rates, making direct comparison difficult without on-chain data. This benchmark measures the actual protocol revenue collected over 24 hours by monitoring known fee wallets on Dune Analytics, then divides by the total trading volume attributed to each platform by Mobula's lighthouse aggregator. Axiom leads on absolute protocol revenue, consistent with its 0.9% per-trade fee applied across high-volume memecoin flow. The observed take rate for GMGN and Trojan is lower than their stated fee because Mobula's volume attribution is broader than the set of trades on which the platforms actually charge. pump.fun cut its bonding-curve trading fees to 0% in August 2026, so its observed take rate has dropped near zero; protocol revenue now comes from graduation fees only.
Methodology
Fee data: Dune query 8316589 monitors native SOL inflows (via solana.account_activity, address column) and USDC/WSOL inflows (via token_balance_owner column) to known protocol fee wallets for each platform, summed over a rolling 24-hour window. Executed every 6 hours (costs Dune credits); cached results read every 15 minutes. Fomo exception: Fomo combines on-chain USDC sweeps with off-chain relay fees stored in a private Dune table accessible only to DeFiLlama; fees for Fomo come from DeFiLlama /summary/fees/fomo chainBreakdown[Solana]. Volume data: Mobula lighthouse (api.mobula.io/api/2/market/lighthouse) polled every 15 minutes. Trading platforms from byPlatform; pump.fun from byLaunchpad[name=PumpFun]. Two take-rate metrics: fee_rate_pct = fees / Mobula total volume (lower bound); fee_paying_rate_pct = fees / fee-paying volume (Dune tx join to dex_solana.trades, comparable across platforms). coverage_pct = fee-paying / Mobula volume.
Frequently asked
What is a take rate?
Take rate is the fraction of trading volume captured as protocol revenue: fees_usd_24h / volume_usd_24h * 100. A platform with a 1% per-trade fee and full fee coverage on all attributed volume would show a 1% take rate. Lower rates indicate either a lower stated fee, waived fees on some trades, or a volume denominator that includes trades where no fee was charged.
Why is GMGN's take rate 0.14% if they charge 1%?
GMGN charges 1% per trade, and their fee wallets do collect ~$155K/day on Solana, matching DeFiLlama's Solana-only figure within 5%. But Mobula's lighthouse attributes $108M in volume to GMGN, which is broader than the volume on which GMGN actually collects a fee. The 0.14% figure is the ratio of fees to total attributed volume, not the per-trade fee rate. GMGN's total revenue across all chains (BSC, Base, Ethereum, Monad, etc.) is ~$772K/day per DeFiLlama.
Why does pump.fun show a near-zero take rate?
pump.fun cut its bonding-curve trading fees to 0% in August 2026, eliminating its per-swap protocol revenue. The Dune fee wallet monitors now capture primarily token graduation fees rather than trading fees. The byLaunchpad volume denominator remains high ($100M+), so the computed take rate is near zero. Pre-August 2026, pump.fun ran a 0.95% protocol share on buys and sells, producing ~0.45% observed take rate.
Why is Fomo sourced from DeFiLlama instead of Dune directly?
Fomo collects fees in two ways: on-chain USDC sweeps to a fee wallet, and off-chain relay fees reported to a private Dune table (dune.tryfomo.fomo_relay_fees) that only Fomo's team can write to. DeFiLlama has access to this private table via a partnership. Without it, on-chain monitoring alone would capture only a fraction of Fomo's revenue.
How reliable are the fee wallet addresses?
GMGN's 9 Solana wallets are verified by DeFiLlama's adapter (reviewed 2026-06) as pure fee collectors with no inter-wallet flows. Our 5% match to DeFiLlama Solana confirms the list is current. Axiom, Trojan, Photon, and Maestro wallets were identified by reverse-engineering tagged trades and cross-checked against DeFiLlama. A monthly diff of the DeFiLlama adapter detects any rotation.
What is memecoin_platform_fee_paying_rate_pct and how does it differ from fee_rate_pct?
memecoin_platform_fee_rate_pct uses Mobula's total attributed volume as the denominator, which is a lower bound because Mobula attributes more trades to each platform than those that actually paid a fee. memecoin_platform_fee_paying_rate_pct uses only the volume of trades that generated a fee inflow (from Dune: for each fee-receiving transaction, we look up the largest swap in dex_solana.trades via tx_id match and sum those). This denominator is self-consistent with the fee numerator, so the resulting rate is comparable across platforms and approximates the actual per-trade fee. memecoin_platform_coverage_pct shows what fraction of Mobula volume actually generated a fee.
What is memecoin_dune_data_freshness_seconds?
It is the Unix timestamp of the most recent block_time seen in the Dune query results. If Dune's solana.account_activity table lags, the nominal 24-hour window silently shrinks. A gap of more than 4 hours between this metric and the current time indicates stale data.
Source code github.com/ChainBench/OpenChainBench/tree/main/harnesses/memecoin-platforms