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New sliding-scale model links creator fees to token market cap
September 3, 2025 12:27 pm
Pump.fun has launched a dynamic fee system that ties creator rewards to token market cap, marking its latest strategic shift as it regains ground in Solana’s memecoin sector.
Under the new “Project Ascend” framework, unveiled yesterday, fees scale from 0.95% for tokens under $300,000 in market capitalization down to 0.05% as projects grow beyond $20 million. The approach replaces a flat 0.05% model introduced in May, which critics said did little to reward small creators.
The update comes as Pump.fun’s broader performance shows decisive recovery from early setbacks. When its PUMP token first launched, the platform quickly lost share to rival Bonk, raising doubts about its long-term prospects.
Blockworks Research analysts argued Pump.fun had untapped levers, and subsequent data bears this out: Pump has now generated more than $834 million in total revenue with an annualized run rate of $492 million. Buybacks — central to its token alignment strategy — have exceeded $68.9 million, with some days directing more than 100% of daily revenues to purchasing PUMP tokens.
Ecosystem activity remains active, with 200,000 to 300,000 daily traders, more than 12.7 million tokens launched to date, and 20,000 to 30,000 new tokens created each day.
Although only a fraction advances beyond its initial bonding curves, Pump.fun consistently accounts for 10% to 25% of Solana token volume. By contrast, Bonk’s once-promising challenge has faded, with activity collapsing after a brief lead in volumes earlier this year.
This is a developing story.
This article was generated with the assistance of AI and reviewed by editor Jeffrey Albus before publication.
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