Issuing Tokens Paired with Nvidia, Pump.fun Turns US Stocks into a Meme Quote Board
- On September 9, Pump.fun launched Custom Pairs, expanding meme coin quote pairs from SOL and USDC to tokenized U.S. stocks, major coins, and metals with 93 assets supported in total.
- Meme coins paired with assets like Nvidia (NVDA) will track the underlying stock price movements during U.S. trading hours.
- Tokenized stocks are issued by Backpack Securities, providing real equity, dividends, and DTCC records, and are bridged to Solana via Sunrise using Wormhole's NTT for initial liquidity.
- Issuers can set commissions of 0.05% to 1% paid in the quote asset, such as NVDA tokens for NVDA-paired coins, while Pump.fun retains 50% of related revenue for buyback and burn.
- On the first day, order books were thin with Nvidia depth at about $1.13 million, and this could positively impact Solana meme coin trading volumes by tying them to traditional stocks but remains cautious due to low liquidity.
On September 9, Pump.fun launched Custom Pairs, expanding meme coin quote pairs from SOL and USDC to tokenized U.S. stocks, major coins, and metals with 93 assets supported in total. This allows meme coins paired with Nvidia (NVDA) to move in tandem with Nvidia's stock price movements during market hours.
The tokenized U.S. stocks are issued by Backpack Securities, which ensures compliance with real equity, dividends, and DTCC records. These assets are then bridged to the Solana network using Sunrise and Wormhole's NTT for initial liquidity provision on the first day. Pump.fun itself does not issue stocks or conduct audits, focusing instead on its role as a traffic and bonding curve provider.
Issuers can choose commissions from 0.05% to 1% paid in the quote asset, for instance, receiving NVDA tokens when trading against an NVDA-paired coin. Pump.fun retains 50% of the generated revenue for its programmatic buyback and burn mechanism. However, the order books remain thin, with Nvidia's depth at approximately $1.13 million on launch day.
This development could positively impact meme coin trading volumes on Solana by introducing new quote assets tied to traditional markets, potentially drawing more speculative capital. Nevertheless, the thin liquidity indicates that capital is still observing from the sidelines, suggesting a neutral to cautiously positive effect on crypto market rhythms until volumes increase.
While coin-stock pairing is not entirely novel, as Robinhood generated nearly $30 million in daily DEX volume with tokenized stocks in July, Pump.fun seeks to consolidate these flows through its issuance monopoly. The key question remains whether crypto enthusiasts will commit their liquidity to these stock-linked tokens.
通过与Nvidia配对代币的发行，Pump.fun将美股转化为meme报价板
9月9日，Pump.fun推出了Custom Pairs功能，将meme币的报价对从SOL和USDC扩展到代币化美股、主要币种和贵金属，总共支持93种资产。这允许与Nvidia (NVDA)配对的meme币在市场时段内随Nvidia的股价波动而移动。
代币化美股由Backpack Securities发行，确保合规并提供真实股权、分红和DTCC记录。这些资产随后通过Sunrise和Wormhole的NTT桥接到Solana网络，在首日提供初始流动性。Pump.fun本身不发行股票，也不进行审计，而是专注于其作为流量和债券曲线的提供者角色。
发行者可选择0.05%至1%的佣金，以报价资产支付，例如在与NVDA配对的币交易时收取NVDA代币。Pump.fun保留生成的收入的50%用于其程序化回购和销毁机制。然而，订单簿仍保持薄，首发日Nvidia的深度约为130万美元。
此发展可能对Solana上的meme币交易量产生积极影响，通过引入与传统市场挂钩的新报价资产，可能吸引更多投机资本。然而，薄的流动性表明资金仍在观望，表明对加密货币市场节奏的中性至谨慎积极影响，直到交易量增加。
尽管币股配对并非完全新颖，Robinhood在7月通过代币化股票创造了近3000万美元的平均每日DEX交易量，Pump.fun希望通过其发行垄断整合这些流量。下一个关键问题是，加密爱好者是否会将他们的流动性投入到这些股票挂钩的代币中。