Pump.fun Reportedly Plans $PUMP Incentives Program to Regain Market Share as JUP Studio Overtakes Platform

Pump.fun, the once-dominant Solana-based token launch platform, is reportedly preparing to launch a new trading volume incentive program aimed at reinvigorating user engagement and regaining market share. According to crypto research collective Dumpster DAO, the platform's recent Software Development Kit (SDK) updates reveal the groundwork for a reward mechanism centered around the PUMP token.

The SDK modifications include tools for tracking user volume, claiming token rewards, and adjusting the daily reward pool. Early test configurations reference a distribution of 1 billion $PUMP tokens per day, which would represent 3 percent of the total 1 trillion token supply each month. However, Dumpster DAO cautioned that this figure likely serves as a placeholder and would not be financially sustainable in its current form.

Updates to the bonding curve program also suggest that activity through bonding curves may play a role in calculating user rewards. The incentive system is structured to operate over a 30-day window, although developers have left the door open for extensions or modifications.

Public Reaction: Mixed Optimism and Skepticism

News of the potential rewards program sparked a range of reactions across social media. Some users saw it as a necessary and overdue move to compete with more aggressive rivals. Others pointed out that similar incentive schemes already exist elsewhere.

They also questioned what, if anything, would prevent wash trading or bots from gaming the system to extract value without contributing to the ecosystem.

[]https://x.com/midcurvemanatee/status/1949245938993610917

Several users credited Dumpster DAO's thread with triggering a short-term price surge in the PUMP token, which rebounded by over 17 percent following the revelation. However, many remained cautious, noting that the token still trades below its initial coin offering price despite the bounce.

However, at the time of writing, there is no official confirmation from pump.fun regarding the incentive program.

LetsBONK.fun Applies Pressure

Pump.fun faces increasing pressure from two fast-rising competitors: LetsBONK and Jupiter Studio. LetsBONK has rapidly gained traction over the past several months and now dominates the Solana memecoin launchpad landscape.

Solana Floor Data Insights indicate that LetsBONK currently accounts for between 37 percent and 55 percent of daily token creator activity, representing a significant increase from its previous range of 3 to 10 percent before early July. The platform also hosted 64 percent of the memecoins that reached a market cap of at least $500,000 last week, compared to pump.fun's 11.1 percent and Jupiter Studio’s 8.3 percent.

LetsBONK's financial performance has outpaced expectations as well. Since overtaking Pump.fun on July 6, its daily earnings have climbed consistently, reaching a peak of $1.78 million on July 21.

With a staggering 82.7 percent of bonding curve volume across all Solana launchpads, LetsBONK has clearly taken the lead.

Jupiter Studio Edges Out Pump.fun for Market Share

Adding to pump.fun's challenges, Jupiter Studio recently surpassed it in market share. According to data from Jupiter's own launchpad analytics platform, the change occurred on July 27, pushing pump.fun down into third place among Solana launchpads. Jupiter Uplink Working Group member FamousCloudzz highlighted the milestone on social media, marking a new phase in the increasingly competitive launchpad environment.

Jupiter Studio's ascent comes amid continued dominance by LetsBONK, which has outperformed all Solana-based memecoin platforms in terms of revenue, token launches, and project graduations for three consecutive weeks.

Can Rewards Restore Pump.fun's Standing?

The incentive program arrives at a critical time for pump.fun. The platform has experienced a steady decline in both volume and market share, with weekly figures dropping to 15-month lows, according to Blockworks data.

Efforts to recover momentum have been complicated by delays in the $PUMP token airdrop, which sparked a 28 percent price decline just days before the incentive news broke.

While the upcoming rewards campaign could reignite user interest, the underlying question remains whether it will drive sustainable growth or merely deliver a short-term boost. With many rivals offering similar features, pump.fun may need more than incentives to fully reverse its downward trajectory.

Looking Ahead

Pump.fun's upcoming volume-based rewards program signals an attempt to reposition itself in a rapidly evolving market. While the SDK updates suggest a flexible and scalable architecture, the effectiveness of the program will depend on its design, execution, and ability to prevent abuse.

Whether its planned rewards system can reverse the platform's fortunes remains uncertain, but it represents a critical test of its ability to adapt and compete in a shifting landscape.

Read More on SolanaFloor

Letsbonk Claims 82% of Bonding Curve Volume: How It Won the Solana Launchpad War
Can the Devs Do Something? - $PUMP Drops 7.5% Below ICO Price as Platform Loses Market Share

Quick Guide to Memecoins