Solana-based meme coin platform Pump.Fun has launched a cryptocurrency lending platform called "Pump.Fi," according to a report by Cointelegraph on April 2 (local time).
Pump.Fi enables users to purchase meme coins and NFTs through loans. According to Pump.Fun, borrowers only need to pay one-third of the initial amount upfront, with the remainder repayable in installments over 60 days.
Pump.Fi plans to create a marketplace where lenders can buy and sell debt, though it has not specified how it will manage undercollateralized loans without credit checks.
To counter challenges from competing platforms, Pump.Fun has also introduced its own decentralized exchange (DEX), "Pump.Swap." Pump.Swap focuses on simplifying the process of listing new tokens. Pump.Fun co-founder Alon stated, "We plan to distribute a portion of Pump.Swap’s trading fees to coin creators."
