The Pump.fun platform, specializing in meme coin launches, is preparing to launch an incentive program that rewards users with 'PUMP' digital coins, in an attempt to regain its declining market share in favor of the LetsBONK platform.
This trend is based on new updates in the platform's SDK, noted by researcher Dumpster DAO, indicating the addition of administrative functions to set reward criteria, track trading volumes, and distribute rewards.
Although the total rewards have not yet been officially announced, test files within the SDK revealed the possibility of allocating up to one billion PUMP coins daily, figures that are likely temporary or for testing.
Dumpster DAO indicated that the proposed program is based on a 30-day cycle and is likely to be modified or extended based on performance results, with confirmation that the program has not been officially activated yet.
These moves come amid a sharp decline in activity on Pump.fun, due to the rise of the LetsBONK platform, which focuses on the BONK ecosystem on the Solana network. According to Dune Analytics data, LetsBONK has surpassed its counterpart Pump.fun since July 5, capturing about 84% of the market, compared to only 12% for Pump.fun by July 25.
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