Pump(dot)fun Shifts Rewards to Traders Amid Revenue Decline

Pump(dot)fun, a Solana-based meme coin launchpad, has revamped its rewards system to redirect fees from creators to traders. The platform now requires token creators to choose between Creator Fees and Trader Cashback before launching a token, with the selection being irreversible once made.

This change comes in response to criticism that the original fee model disproportionately rewarded deployers regardless of their contribution to a token's success. Under the new system, traders can opt for cashback rewards on every trade, accessible exclusively through Terminal, a trading interface built into the Pump(dot)fun platform.

Pump(dot)fun cited data from Dune Analytics, which showed that only 4.76 million wallets out of 58.7 million have profited between $1,000 and $10,000 on the platform, while fewer than 13,700 wallets have reached $1 million in gains.

The new model coincides with a decline in platform revenue, which dropped 75.6% from January 2025's record high of $148.1 million to $31.8 million this January. February revenue stands at $15.6 million so far, putting the platform on pace to fall below January's already reduced figure.