Pump.fun introduces strict fee rules amid declining activity
Pump.fun has introduced a new restriction for tokens. Creators can now change fee distribution only once after launch. After that, the setting becomes permanent.
This decision aims to reduce manipulation. It addresses cases where developers change fee recipients after a token rises in value. Such actions had undermined trader confidence. Co-founder Alon Cohen stated that the update should reduce abuse. The new rule makes the model more predictable. It is a step toward improving platform transparency.
An attempt to fix economic imbalances
The change is part of a broader reform. In January, Pump.fun acknowledged that its model was overly favorable to creators. At that time, new revenue distribution mechanisms were introduced, including multi-wallet setups and post-launch controls. In February, the Cashback Coins model was launched.
It allowed users to predefine whether fees go to the creator or traders. However, the ability to change recipients still remained. This created risks for users. The new restriction removes that issue. Now flexibility is minimized.
The community doubts effectiveness
User reaction has been mixed. Some believe the changes are insufficient. User gake noted that the update is unlikely to impact the market significantly. Others described it as a “minimal step.” Nevertheless, the community sees a positive signal in acknowledging the problem.
The platform shows willingness to evolve. However, key issues remain unresolved. In particular, trust in new tokens is still low. This limits liquidity inflows. As a result, the impact of the update remains uncertain.
Platform activity is declining sharply
The changes come amid declining metrics. In January 2026, fees totaled $31.8 million, down 75% year-over-year (from $148 million). In February, revenue fell to $25 million compared to $75 million a year earlier. Trading volumes have also dropped significantly.
In January 2025, volumes exceeded $11.6 billion, while in January 2026 they were only $2.1 billion. In February, volume fell to $1.91 billion versus $6.1 billion a year earlier. This represents a 68–81% decline across key metrics. The platform is trying to adapt to the new market environment. However, current dynamics indicate a significant cooling of interest in the memecoin segment.
Recently we wrote that the memecoin launch platform Pump.fun has surpassed $1 billion in cumulative revenue since its launch in early 2024. According to data from DefiLlama, the service has become one of the most profitable applications in the Solana ecosystem.
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