Solana-based token launch platform Pump.fun is preparing to roll out a trading volume rewards system as it looks to revive user engagement and claw back market share from rising competitor LetsBONK.
According to a July 26 thread from crypto research collective Dumpster DAO, Pump.fun has updated its Software Development Kit (SDK).
Pump.fun Reportedly Considers 1 Billion Daily Token Rewards
The changes suggest the platform is actively testing a system that rewards users with its native PUMP token based on trading activity.
The revised SDK includes functionality for tracking user volume and dynamically allocating rewards. Developers have also introduced a new admin setting that lets the platform adjust daily reward amounts.
The current structure uses a 30-day Solana (SOL) volume window to calculate payouts. However, Dumpster DAO notes that this framework could evolve as Pump.fun fine-tunes its strategy.
Meanwhile, updates to the bonding curve program’s Interface Definition Language (IDL) also hint that activity through bonding curves may be included in the rewards system.
Notably, early test versions referenced a distribution of 1 billion PUMP tokens per day, which amounts to 3% of the 1 trillion token supply each month.
However, Dumpster DAO cautioned that this figure is likely a placeholder and not financially sustainable.
“The number of tokens up for grab in this incentives program is not yet clear. In an even more recent SDK version, we see 1 billion PUMP tokens per day. However, this is just a test file, and distributing 3% of the supply as rewards in just one month seems high,” the firm stated.
Following the revelations, the price of PUMP spiked by 5% in under an hour, reaching $0.002875, according to BeInCrypto data. The rally offered a brief reprieve after the token had plunged more than 47% from its peak of $0.066.
LetsBONK Dethrones Pump.fun as Solana’s Top Launchpad
Dumpster DAO noted that the incentive program appears to be Pump.fun’s response to growing competitive pressure. LetsBONK, a rival Solana-based launchpad, has rapidly gained significant market share over the past months.
According to a report from Solana Floor, LetsBONK now commands 37% to 55% of daily active token creators, a sharp rise from its prior 3% to 10% range.
“Many market observers speculated that Letsbonk’s impressive growth might be fleeting and that Pump.fun would swiftly regain its footing. This expectation proved incorrect, as demonstrated on July 7, when Pump.fun’s creator share dipped below 50% for the first time, simultaneously boosting Letsbonk’s market share to over 49.6%,” the report stated.
In terms of high-performing launches, LetsBONK led the pack last week, hosting 64% of tokens that reached a market cap above $500,000. Pump.fun and Moonshot each captured 11.1%, while Jupiter Studio and Launchlab trailed with 8.3% and 5.6%, respectively.
As a result, LetsBONK surge in activity has fueled a sharp rise in revenue, propelling the platform ahead of Pump.fun.
According to him, since surpassing its rival on July 6, LetsBONK daily earnings have climbed steadily, reaching a peak of $1.78 million on July 21. This sustained growth has kept Bonk in the lead for nearly three consecutive weeks
The post Pump.Fun Scrambles to Counter LetsBONK’s Rise With Risky Token Reward System appeared first on BeInCrypto.
Source link
