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PumpFun, the team behind the Memecoin launch platform and PUMP token, is working on a new incentive program to increase the platform's trading volume.
According to onchain data and developer updates, this program will last for at least 30 days and PUMP tokens will be distributed as rewards to participants.
Recent updates to PumpFun's official SDK provide important insights into this incentive system. A newly added admin function allows you to set parameters such as the daily amount of PUMP to be distributed. Additionally, methods for tracking user volume and claiming rewards have been integrated into the system.
While the program currently offers a 30-day incentive model, it's anticipated that the infrastructure could be repurposed for longer-term campaigns. Furthermore, it's anticipated that the IDL files for Pump's bonding curve system have been updated, so the volume generated from this transaction type will also be included in incentive calculations.
It's not yet clear how many tokens will be distributed in total. However, a more recent test version included a daily distribution of 1 billion PUMP tokens. This amount represents a distribution of 3% of the total supply in just one month and is likely for testing purposes only.
PumpFun, which has begun to lag behind rival projects like BONK in trading volume, aims to re-engage users and increase its market share through these incentives. While the program hasn't yet been launched, technical preparations suggest a launch may be imminent.
Following this development, there was a 13% increase in the PUMP price.
*This is not investment advice.