Solana News Today: Pump.fun Unveils Volume-Based Incentives as $PUMP Surges 17% Amid LetsBONK, Jupiter Studio Competition

Pump.fun, once the dominant token launch platform on the Solana blockchain, is reportedly preparing a new volume-based reward program to reignite user engagement and reclaim lost market share. According to an analysis by the cryptocurrency research group Dumpster DAO, the platform’s recent software development kit (SDK) updates reveal the foundational structure of a $PUMP token-centric incentive system. The SDK modifications include tools for tracking user volume, distributing token rewards, and managing a daily reward pool. Early test configurations suggest a daily allocation of 10 billion PUMP tokens—equivalent to 3% of the monthly supply—though Dumpster DAO cautions this figure may be a placeholder and financially unsustainable in its current form [1]. The platform is also exploring mechanisms that could link rewards to on-chain activities via bonding curve transactions, with a 30-day operational window and flexibility for adjustments [1].

Public reactions to the proposed plan have been mixed. Social media users have highlighted the necessity of such measures to compete with aggressive rivals but also raised concerns about the feasibility of avoiding manipulative tactics like wash trading or bot-driven exploitation of the system [1]. Some observers noted a short-term price surge for $PUMP, which rebounded over 17% following the news, though the token remains below its initial coin offering price. Pump.fun has not officially confirmed the reward program [1].

The platform’s challenges are compounded by intensifying competition from LetsBONK and Jupiter Studio. LetsBONK has surged in dominance, capturing 37% to 55% of daily token creation activity on Solana—a sharp increase from 3% to 10% in early July—and now hosts 64% of memecoins with a market value exceeding $500,000, compared to 11.1% for Pump.fun and 8% for Jupiter Studio [1]. Financially, LetsBONK’s revenue has grown exponentially, peaking at $1.78 million on July 21 after surpassing Pump.fun in mid-July. It also leads in bonding curve trading volume, accounting for 82.7% of all Solana launchpad activity [1].

Jupiter Studio further destabilized Pump.fun’s position by overtaking it in market share on July 27, according to Jupiter’s own Uplink analytics platform. The shift marked a pivotal moment in the competitive landscape, as Jupiter Studio’s growth coincided with LetsBONK’s sustained dominance in revenue, token issuance, and project completions across three consecutive weeks [1].

Pump.fun’s reward initiative arrives at a critical juncture. Blockworks data shows the platform’s trading volume and market share have declined for 15 months, with weekly volume hitting a 15-month low [1]. Compounding these challenges is a 28% drop in the $PUMP token’s price days before the incentive announcement, alongside delays in its airdrop distribution. While the proposed rewards could rekindle user interest, analysts question whether the strategy will drive sustainable growth or merely offer a temporary boost. Given competitors’ similar offerings, Pump.fun may need additional measures to reverse its downward trajectory [1].

The success of the program hinges on its design, execution, and ability to prevent abuse. The SDK’s flexible architecture suggests scalability, but the effectiveness of the reward structure remains unproven. The initiative represents a critical test of Pump.fun’s capacity to adapt in a rapidly evolving market [1].

Source: [1] [title: Pump.fun Reported Plans Pump Incentives Program to Regain Market Share as JUP Studio Overtakes Platform] [url: https://solanafloor.com/zh/news/pump-fun-reportedly-plans-pump-incentives-program-to-regain-market-share-as-jup-studio-overtakes-platform]