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a take rate measured on 0.003% of the volume printed beside it - #3027
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/compare/fomo-vs-pump-fun says pump.fun's memecoin trading fee is 63.9%,
and declares a winner on that column. Two cells to its left the same row
reads $41.09M of daily volume and $910.86 of fee revenue, which works out to
0.0022%. Three numbers, side by side, that cannot all describe the same
thing. A Community Note seen 11,400 times now cites the page.
The harness arithmetic was honest. The all-chains rate divides the fees it
trusts by the volume of the chains those fees came from, and for pump.fun
that is Base alone: $910.86 on $1,424.96 really is 63.9%. The dishonesty was
in the publishing. A rate computed over $1,425 was printed as the take rate
of a platform that routed $41,089,797 through chains the rate never saw, a
denominator 28,800 times larger and nowhere on the page.
Measured across the cohort on 2026-10-17:
pump-fun 63.922% fee coverage 0.003%
padre 1.160% 100%
maestro 1.135% 100%
trojan 1.086% 100%
gmgn 1.031% 100%
photon 0.995% 100%
axiom 0.918% 95.9%
fomo 0.494% 100%
One platform is broken and seven are not, with three orders of magnitude
between them, so the fix is a coverage floor at half. Far below every honest
platform, far above the broken one, tuned to neither.
Below the floor the all-chains rate is withheld the way a chain cell with an
unexplained zero already is: the row says withheld rather than going silent,
because pump.fun may well charge a fee and the honest statement is that we
cannot measure it over a denominator worth printing. The volume and the
transaction totals are unaffected; they are totals, not ratios.
`terminal_fee_coverage_pct` is published for every platform, so a page can
show the denominator instead of leaving a blank, and so the next time this
drifts it is visible before a reader finds it.
A Go test pins the exact shape, with the live figures in its comment, and
checks that a platform at full coverage keeps its rate.
Gates: gofmt clean, go build, go vet, harness tests pass, 253 specs valid.
Flotapponnier
added a commit
that referenced
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Oct 17, 2026
…#3029) pump.fun's take rate reads 63.9% on the live compare page and on the Robinhood and Base chain tabs. The number comes from one cell: the source reports $910.86 of fees against $1,424.96 of volume on Base, which is 0.0035% of pump.fun's $41.09M day. That cell is also the platform's only fee-bearing chain, so it set the all-chains headline too. The coverage gate added in #3027 withholds the headline, because 0.0035% of volume is far below the 50% floor. It cannot see the per-chain cell, which kept publishing 63.9% on its own. This adds the second half: - A cell whose fees exceed 10% of the volume they sit on is withheld. Measured across the cohort, every honest take rate sits between 0.39% and 2.20%, the highest being maestro on HyperEVM at 4.87%. Ten percent clears that spread by more than double and catches the broken cell by a factor of six. A terminal keeping a tenth of every ticket would have no users, so this is a statement about trading, not a tuned threshold. - The withheld flag on the all-chains row now keys off whether the source reported a fee for the platform at all, not off the totals. With its only fee cell rejected, pump.fun had no totals left and the row went silent, which reads as "charges nothing" on the page. It charges something; we cannot say what. Volume and transaction counts for the rejected cell are untouched. Only the ratio built on an unusable numerator goes away. The methodology now states the ceiling, and the findings bullet that named a day's withheld cells is rewritten as the rule: it claimed pump.fun charges on four chains, which the source stopped reporting.
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a take rate measured on 0.003% of the volume printed beside it
/compare/fomo-vs-pump-fun says pump.fun's memecoin trading fee is 63.9%,
and declares a winner on that column. Two cells to its left the same row
reads $41.09M of daily volume and $910.86 of fee revenue, which works out to
0.0022%. Three numbers, side by side, that cannot all describe the same
thing. A Community Note seen 11,400 times now cites the page.
The harness arithmetic was honest. The all-chains rate divides the fees it
trusts by the volume of the chains those fees came from, and for pump.fun
that is Base alone: $910.86 on $1,424.96 really is 63.9%. The dishonesty was
in the publishing. A rate computed over $1,425 was printed as the take rate
of a platform that routed $41,089,797 through chains the rate never saw, a
denominator 28,800 times larger and nowhere on the page.
Measured across the cohort on 2026-10-17:
One platform is broken and seven are not, with three orders of magnitude
between them, so the fix is a coverage floor at half. Far below every honest
platform, far above the broken one, tuned to neither.
Below the floor the all-chains rate is withheld the way a chain cell with an
unexplained zero already is: the row says withheld rather than going silent,
because pump.fun may well charge a fee and the honest statement is that we
cannot measure it over a denominator worth printing. The volume and the
transaction totals are unaffected; they are totals, not ratios.
terminal_fee_coverage_pctis published for every platform, so a page canshow the denominator instead of leaving a blank, and so the next time this
drifts it is visible before a reader finds it.
A Go test pins the exact shape, with the live figures in its comment, and
checks that a platform at full coverage keeps its rate.
Gates: gofmt clean, go build, go vet, harness tests pass, 253 specs valid.