Pump.fun rumored to launch incentive campaign with $PUMP rewards to claw back market share from LetsBONK

Meme coin launchpad Pump.fun is rumored to soon roll out an incentive program that will reward users with $PUMP tokens based on their trading volume, according to recent updates to the platform’s software development kit (SDK) spotted by researcher Dumpster DAO.

https://twitter.com/Dumpster_DAO/status/1949127244112081071?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener noreferrer

The SDK now includes new admin functionality for setting reward parameters and tracking user trading volumes, along with methods for users to claim $PUMP rewards, Dumpster DAO noted.

The platform also updated its bonding curve program documentation, suggesting that bonding curve trading activity will factor into reward eligibility.

While the total reward allocation remains unconfirmed, a test file in a recent SDK version referenced 1 billion PUMP tokens per day, though this is likely placeholder data.

“The current program uses a 30-day incentives system, but could likely be reused/updated if the team [chooses] to continue this for longer,” Dumpster DAO stated, noting that the features have not yet been activated on the platform.

The discovery comes amid a sharp drop in activity on Pump.fun, under pressure from LetsBONK’s increasing market share.

Data from Dune Analytics shows that since July 5, LetsBONK, a meme coin launchpad focused on the Solana-based BONK ecosystem, has overtaken Pump.fun in market share. As of July 25, LetsBONK commanded roughly 84% of the market, while Pump.fun had fallen to just 12%.

Likewise, LetsBONK consistently led Solana meme coin launchpad revenues. Since early July, LetsBONK has rapidly gained traction, with revenue climbing sharply and surpassing Pump.fun by a wide margin.

On July 25, LetsBONK generated over $1.3 million compared to Pump.fun’s $254,000.

Dumpster DAO said that the new incentive structure appears aimed at recapturing market share through trader rewards.

The $PUMP token has seen a dramatic loss in value, dropping over 50% following its ICO. Initially priced at $0.004 and peaking at $0.0067, it has now fallen below its ICO price.

The decline was exacerbated when the project chief Alon Cohen announced that an airdrop was not coming soon, which conflicted with investor expectations and contributed to negative market sentiment.