98.7% of pump.fun tokens rug. Here's the receipt.

Solidus Labs analyzed every token launched on pump.fun between January 2024 and March 2025. That's 7,050,000 tokens. Of those, 98.7% showed characteristics of pump-and-dump schemes or rug pulls.

The largest confirmed extraction from the dataset was $1.9 million — pulled by a team that vanished between Tuesday and Wednesday. The investors lost everything. No recourse. No accountability. Not even a Twitter thread apologizing.

Gen Z Quant did it for fun and pulled $50,000 overnight in January 2025. The degen community called it a rug. The dev called it a joke. Nobody lost their job.

The number nobody wants to say out loud.

Solidus Labs published these findings in their 2025 Rug Pull Report. The methodology was straightforward: analyze every token on pump.fun that crossed five trades. That's 7,050,000 tokens between January 2024 and March 2025.

Results:

1. 98.6–98.7% — identified as rug pulls or pump-and-dump schemes
2. 1.4% — held more than $1,000 in liquidity after the launch window
3. 97,000 — actual tokens with real staying power
4. 7,050,000 — total tokens created and analyzed

On Raydium — the next leg of the Solana food chain — 93% of 388,000 liquidity pools showed soft rug pull characteristics. The median rug pull was worth $2,800. The largest was $1.9 million.

Why it keeps working.

Because the mechanics are designed to override your judgment.

1. Anon teams, zero accountability.

Nobody has a name on the line. The "founder" can disappear between a Tuesday and a Wednesday. There's no LinkedIn, no face, no reputation to protect. This isn't a bug — it's a feature of the model. When there's no accountability, the rational move for the dev is extraction, not building.

2. The bonding curve creates FOMO on purpose.

pump.fun's pricing model is exponential. The earlier you get in, the cheaper the entry. Everyone who enters later pays more. The price graph looks like a hockey stick — that shape triggers the "I'm going to miss out" signal every single time. The devs get in at the bottom. Retail gets in when the line is already vertical.

3. "100x" delusion is the operating system.

The people entering these tokens are not calculating probability of success. They're calculating how much they need to make to feel like they didn't miss out on the "one that mattered." That's a different psychology entirely — and it's exploitable. The token doesn't need to be a good investment. It needs to be the story of the one that got away.

4. The dopamine loop is real.

Watching a token pump 50% in 20 minutes releases dopamine. The degen knows it's a gamble. The gamble is the point. Rational analysis doesn't apply to something that's functioning as entertainment spending. You don't evaluate the odds on a slot machine — you play because the spin is the point.

5. No rules, no enforcement.

Solana memcoins are outside every regulatory framework that applies to registered securities. There's no SEC enforcement for a token the SEC has explicitly said isn't a security. The absence of rules is a feature for the people running the operation. They can extract with legal cover.

The honest alternative.

What if the rug was the game?

RugPot takes the same mechanical concept — random winner, pot accumulates, draw fires — and removes the part that's rigged: the team with the hidden wallet.

On RugPot, there is no dev wallet. No insider allocation. No bonding curve where the creator exits before you can react. The pot is funded by the fee on every trade — 95% goes to one random winner. The randomness is Solana VRF, on-chain, provable. No admin key can alter the outcome. Read our Solana VRF explainer →

You can read the contract before you enter. You can verify every draw on Solana Explorer. The game is the same excitement — the outcome is auditable.

The "rug" in RugPot is the draw mechanism. Everyone knows the rules. The pot closes on schedule. The winner is random. That's not a risk — that's the product.

Play at rugpot.io →

Read how it works →

How to verify it yourself.

Don't trust us. Trust the chain.

RugPot's program is deployed on Solana mainnet. The program ID is:

552HLD8APrtVRHkRvgkKiZw48gsLdiTXC3SS5kDLd2ka

Search this on Solscan or Solana Beach. Every transaction — every share mint, every round close, every payout — is public.

To verify a draw:

1. Find a "round closed" transaction for the RugPot program ID
2. Look in the transaction logs for the VRF proof output
3. Use the Solana Web3.js getTransaction() method to fetch the tx metadata and verify the VRF proof
4. Cross-check the winner's payout against 95% of the pot at draw time

No admin key. No off-chain randomness. No team involvement in the draw. If the numbers don't add up, the contract is public and the world can see.

See the proof →

Memes are fun. Not an asset. Not a scam.

Nobody is telling you not to play. The casino is open and it's fun. The problem isn't the fun — it's the false framing.

When you buy a pump.fun token and believe you're making a financial decision, you're being manipulated. The teams running these tokens know exactly what they're doing. They're not building products. They're running exit scams at scale, and they're doing it legally because the regulatory framework hasn't caught up.

RugPot doesn't ask you to trust it. The rules are on-chain. The contract is locked. The draw is VRF-verified. You can verify everything before you enter.

If you want to play the game where the rug is the mechanic — where everyone knows the rules before they enter, and the randomness is on-chain and verifiable — that's what RugPot is. No promises. No team narrative. Just the pot, the rules, and the chain.

Come in with your eyes open. Leave when you want. The game doesn't cheat you — because there's nothing to hide.