What Is GMGN? The Complete Guide to the Memecoin Terminal

Most explanations of GMGN start and end with "a Solana trading bot." That was true in 2024 and it has not been true for a while. GMGN is a multichain terminal whose largest single revenue source is now BNB Chain, whose product surface runs from wallet forensics to a token launchpad, and which has collected roughly $240 million in fees since 2024 without ever raising outside capital.

This guide covers what GMGN actually is, who built it, everything it does, what it costs, and the two things about it that are commonly reported wrong. Every figure carries a source, and the ones I could not verify are labeled as such.

What GMGN Is, in Plain Terms

GMGN's own positioning is "Discover faster, Trading in seconds," and the product is built around exactly that loop. It continuously scans launchpads including Pump.fun, Four.meme, Raydium and LetsBonk, surfaces brand-new pools within a minute of creation, runs automated security checks on the contract, and puts a one-click trade window on the same screen. Nothing about it is designed for holding.

Around that core sit a data layer (wallet profit and loss, smart-money leaderboards, insider and sniper detection, holder analysis), an automation layer (copy trading, limit orders, take-profit and stop-loss presets, trailing exits), and a distribution layer of Telegram bots, mobile apps and an API, so the same account works from a browser, a chat window or a script.

Where the Name Comes From, and Who Built It

GMGN stands for "Good Morning, Good Night," taken from the crypto greetings "gm" and "gn," and meant to signal a product that runs 24 hours a day. It has no other meaning: Abbreviations.com returns zero definitions for the string, and no stock ticker uses it.

The product launched in June 2023, and here the record diverges from what circulates online. GMGN did not start as a Twitter bot. It launched as a smart-money tracking and on-chain analysis tool on Ethereum, and execution came later. Its predecessor from the same team was NFTtrack, an NFT wallet monitoring tool. The Solana pivot came in early 2024, and DefiLlama's first recorded Solana fee day is 2024-03-21.

The team is small and public in an unusual way. Jerry Ma is co-founder and CEO, Haze (@haze0x) is the public face who does most of the interviews, and @arthur_gmgn is the third co-founder. Headcount was reported around 20 in November 2024 and roughly 30 since.

Corporate structure is thinner than you might expect for a business this size, with no publicly filed registration I could confirm. The hard evidence is in app-store disclosures: GMGN Labs Limited, the Google Play developer, lists an address in Road Town, British Virgin Islands with a Singapore phone number, and GraceMatrix Technologies Limited is the Apple App Store seller. "Based in Singapore" is widely repeated but sourced to a wiki rather than a filing.

The funding story is the interesting one. Tracxn records GMGN as unfunded, with no rounds raised, and no round appears in any of four long-form founder interviews or in any report from Messari, The Block, DL News, Decrypt or CoinDesk. A team of about 30 people has collected a quarter of a billion dollars in fees with no outside capital.

How Big GMGN Actually Is

All figures below are from DefiLlama's fee and revenue API, retrieved 2026-08-06.

Two caveats belong with those numbers. First, GMGN's trailing-year figure is distorted by a single month: October 2025 alone produced $44.6 million, about 31% of the whole year, during the BNB Chain memecoin mania. Its all-time record day, 2025-10-08 at $6,874,189, came from BSC at 99.3%. Second, DefiLlama measures GMGN's Solana referral payouts on-chain but estimates the EVM side, so the fee totals are solid while the revenue split is partly modeled.

The chain mix is the fact almost nobody reports. Over the trailing 30 days, BSC produced 58.9% of GMGN's fees and Solana 31.5%, with Base at 5.9% and Ethereum at 3.3%. Over the last seven days the split was 78.7% BSC against 17.1% Solana. GMGN was 99.5% Solana as recently as January 2025. Its Solana fees have been flat at $2.1M to $3.1M per month for a year while BSC did all the growing, which is why the "Solana bot" description keeps getting less accurate. The full breakdown, including how that compares to the rest of the category, is in GMGN vs Photon.

The Web Terminal

The browser app is the fullest version of GMGN, and it is dense. The main surfaces, all documented officially:

• Trenches, the home view, with live columns of new tokens, tokens close to bonding, and migrated tokens.
• New Pair, listing pools from one minute to 24 hours old, filterable by launchpad, with liquidity, market cap, holders, hourly transactions and a Degen Audit column.
• Trending, ranking traded tokens over 1, 5, 30 and 60 minute windows, including a NextBC index showing what share of a token's holders also hold blue chips.
• Discover, the smart-money wallet leaderboard, ranked by 1, 7 and 30 day profit and loss, win rate and average cost.
• Holding, with positions, limit orders and an auto-trading strategy tab.
• Follow and Monitor Square, aggregating inflows across followed wallets, plus a watchlist with renaming and notes.
• Signal / Alert, covering DEX Paid and DEX Boost events, social updates, price and all-time-high alerts, and community takeover events.
• Wallet Tracker, pushing every action from tracked wallets to the browser or a zero-delay Telegram bot.

Token pages carry the chart, cross-chain multicharts, a draggable instant-trade window, a "Sell inits" button that sells just enough to recover your cost basis, and tabs for activity, traders, holders and open orders. Wallet detail pages add average holding duration, cost distribution and phishing checks that flag blacklist buys, honeypot buys, wallets that never actually bought, and buy-sell pairs executed within ten seconds.

Two power features are worth calling out. Trenches Hotkeys turns buying into keyboard input, with a hover-plus-key mode and a combo mode that addresses a specific column and row, plus preview keys that pop the token's X feed. Wallet Radar scans up to 10 tokens at once to find the wallets that hold all of them, or bought earliest, or profited most, then lets you track or copy any of them in one click. The fast-entry workflow is what the GMGN trenches and sniper guide is for.

Rounding it out: an X Tracker monitoring more than 2,000 curated accounts for posts, replies, quotes and bio changes with a quick-buy button attached; SnipeX, which auto-buys on contract addresses detected in tweets, capped at 10 concurrent tasks and gated to whitelisted Solana users; and Cooking, a built-in launchpad that deploys through Bonk or Pump with a minimum 0.1 SOL dev buy and zero launch fee from GMGN.

Copy Trading and Smart-Money Tracking

Copy trading is the feature most people arrive for, and it deserves a precise description because it is widely described wrong.

It is Solana-only, requires a Telegram login, and allows up to 10 concurrent copy tasks. You choose a fixed buy size or mirror the target's size up to a cap. Selling can follow the target proportionally, ignore their sells entirely, or run your own take-profit and stop-loss ladder. The filters are the useful part: market cap bounds, liquidity bounds, token age bounds, minimum pool burn ratio, copy amount floors and ceilings, a cap on how often a single position can be increased, a launchpad filter, and a 20-token blacklist.

Two behaviors will bite you if you do not know them. Lightning Mode executes about two seconds faster by acting on unconfirmed chain messages, which means a rollback can leave you holding a position the target never actually opened, and in rare cases can duplicate execution. And after three consecutive failures a copy task pauses itself and will not restart on its own. The full setup, including which filters actually matter, is covered in GMGN copy trading.

Automation

Everything below is Solana-first and documented officially.

• Auto Buy: send a contract address to the bot and it buys immediately, with minimum liquidity and maximum market cap guards.
• Limit Buy, set as an absolute price or a percentage move, expiring in 1 hour, 24 hours or 3 days.
• Auto Sell with multiple take-profit and stop-loss presets per buy. Bot-created orders last 24 hours.
• Trailing Take Profit, which arms at your target price then trails by a drawdown percentage.
• Trailing Stop Loss, which starts immediately and only ratchets upward.
• Migrated Snipe and Migrated Sell, firing the moment a token migrates to a DEX pool.
• Dev Sell, which exits your position when the token creator sells more than a ratio you set in a single transaction.
• Multi-wallet trading across up to 10 wallets at once.

One documented gotcha catches nearly everyone: auto-sell is calculated per purchase, not per position. Buy the same token three times and you have created three overlapping take-profit and stop-loss sets, and GMGN's docs tell you to close the earlier ones manually. There is also a ceiling of 100 active limit orders per account. When orders silently fail to fill, the cause is usually slippage or fee settings, which GMGN transaction failed works through.

Security and Analysis Tooling

This is the part of GMGN that predates the trading product, and it shows.

On Solana, contract security checks cover mint authority, top-10 holder concentration (under 30% is treated as safer), blacklist status, burn percentage, a rug probability score derived from how often the token's holder set buys rugs, and a rug history listing other rugs launched by the same creator. On Ethereum the checks shift to honeypot detection via GoPlus, contract verification, ownership renouncement, liquidity lock status and buy and sell taxes. GMGN disclaims accuracy on all of it, which is the honest position.

Token pages also label insider traders (wallets holding without ever buying after launch), snipers (buyers in the first few blocks) and the first 70 buyers, each tagged as holding, buying more, sold part, sold all, or transferred out.

The Telegram Bots

GMGN's bot suite is per-chain rather than one bot doing everything.

The Solana sniper bot menu covers buying and selling, limit orders, assets, wallets, copy signals, copy trading, Pump FOMO, new LP alerts, smart-wallet tracking and the invitation rebate, in English, Chinese and Korean.

Mobile Apps, API and Chains

The iOS and Android apps carry a Discover tab with favorites, a Monitor tab with AI-curated signals, a Track tab for follows and wallet activity, and an Assets and Orders tab covering advanced, limit, auto-trading and dev-sell orders.

The API surface is broader than most competitors offer. The open data API no longer requires whitelist approval and is rate-limited to one request per second. A separate Solana trading API is still gated behind an application judged on your trading volume, and there are routing, slippage, gas and simulation endpoints for Ethereum, Base and BSC. In 2026 GMGN added an agent API with MCP skills, keyed with an Ed25519 public key, alongside a gmgn-cli.

On chains, Solana, BSC, Ethereum, Base and Tron all have documented bots, and Blast is accepted as a URL parameter. Monad, MegaETH and Hyperliquid appear in DefiLlama's fee data but not in the docs, so treat support there as real but undocumented. Coverage is uneven: copy trading, SnipeX, the Cooking launchpad, multi-wallet trading and most auto-trading are Solana-only.

What GMGN Costs

GMGN charges 1% per transaction, on both the buy and the sell, and its docs state it plainly: "GMGN only charges a 1% handling fee for a single transcation, and there are no additional charges" (their typo). There is no separate sniper fee, no separate copy-trade fee, no per-chain variation and no subscription tier anywhere in the documentation.

On top of that you pay network costs GMGN does not receive: gas, a priority fee paid to validators, and a tip fee paid to private nodes, each with a 0.0001 SOL minimum and a combined ceiling of 2 SOL. Anti-MEV requires a priority fee of at least 0.002 SOL. GMGN recommends 0.002 to 0.005 SOL total when speed does not matter, 0.006 SOL or more for auto buy and sell and limit orders, and keeping 0.05 SOL in reserve. Full detail, including the slippage settings that quietly cost more than the fee does, is in GMGN fees explained.

One correction worth stating directly: there is no user-side fee discount in GMGN's documentation. The referral program pays the referrer 10% to 30% of the fees their referrals generate, and the person trading pays the standard 1% regardless of whose link they used. Sites advertising "0.9% with a referral code" or "get 80% of your fees back" are either quoting something GMGN does not publish or rebating part of their own commission, which is an arrangement with them rather than with GMGN. See the GMGN referral code guide.

Custody: The Part Most Guides Get Wrong

GMGN's in-app wallets are effectively custodial, and a great deal of third-party content says otherwise.

The docs are unambiguous: "For the safety of user wallet funds, GMGN all chains (SOL chain / EVM chain / Tron chain) are prohibited from exporting private keys; Wallets imported from outside also can't export private keys." The agent API documentation describes the architecture as a "hosted wallet" where private keys are not stored locally. Connecting Phantom does not give you a self-custodial session either; GMGN creates a custodial multichain account derived from it.

Importing a key is also one-way and destructive on EVM chains: importing into any EVM bot changes your address across the Ethereum, Base and BSC bots at once, and the docs warn the old address is deleted with no recovery path.

The counterweight is that GMGN has built real withdrawal controls. The Telegram bot cannot withdraw at all, since withdrawals moved entirely to the website. Google Authenticator TOTP is mandatory before withdrawing, a withdrawal address whitelist is required, and time locks apply: three hours after any whitelist change and 24 hours after re-binding your authenticator. GMGN also runs a HackenProof bug bounty paying up to 1,000,000 USDT for unauthorized access to wallets, funds or private keys, which is itself an admission of where the keys live. The practical read is in is GMGN safe and who holds your keys.

There Is No GMGN Token

No token, no ticker, no TGE, no points program and no airdrop appears anywhere in GMGN's 68 official documentation pages. DefiLlama lists GMGN with a null token record. The only mentions of "airdrop" in the docs describe other tokens' airdrops and airdrop-based phishing scams. The bug bounty pays in USDT.

The closest thing to an official position came from Haze in February 2025, who said the team was still discussing it internally with no conclusion, and that his concern was a token pushing users to focus on price instead of the product. Meanwhile roughly 50 dust tokens using the GMGN name exist across Solana, BSC, Ethereum and other chains, and the largest live one is under $5,000 in market cap. One displays a $77M valuation on an aggregator while its pool holds twelve cents and has traded nothing in 24 hours. All of them are unaffiliated. The GMGN token and airdrop question covers the speculation and the scams.

Worth noting: the three largest terminals in this category, GMGN, Axiom and Photon, all have no token, while every tokenized bot in the sector is down 95% or more from its all-time high.

Who GMGN Is For

It fits you if you trade new memecoins actively across more than one chain, you want copy trading or smart-money wallet tracking, you want to execute from Telegram or a phone as well as a browser, or you run a Telegram group and want to monetize it through the referral program.

It does not fit you if you are a buy-and-hold investor, you need genuine self-custody with an exportable key, you want perpetuals or leverage, you need a fiat on-ramp, or you trade infrequently enough that a flat 1% per side outweighs the discovery tooling. For occasional manual swaps, a plain router charges a fraction of that.

Quick Recap

• What it is: a multichain memecoin trading terminal spanning a web app, per-chain Telegram bots and mobile apps.
• Origin: launched June 2023 as an Ethereum smart-money tracker, not an X bot; the name means "Good Morning, Good Night."
• Who runs it: co-founders Jerry Ma, Haze and arthur, roughly 30 staff, BVI and Singapore entities, bootstrapped with no recorded funding round.
• Scale: $240.1M in lifetime fees, $9.31M over the trailing 30 days, now 58.9% BSC and 31.5% Solana.
• Cost: flat 1% per transaction plus network gas, priority fee and tip. No subscription, no user-side discount.
• Custody: hosted wallets with no private key export. Treat it as a hot trading account.
• Token: none, and every $GMGN you can buy is unaffiliated.

If you want to start, connect Telegram and fund a GMGN wallet covers setup and how to trade on GMGN covers the first trade. This is not financial advice, and memecoin trading loses most people money.