Essentially, Pump.fun is a token-launch platform on the Solana blockchain that allows users to create and trade meme coins using an automated bonding-curve model, lowering technical barriers for new participants while enabling rapid token deployment. The project also has a token dubbed PUMP, a coin positioned as the ecosystem’s central “platform” asset.

In a statement published on X outlining the platform’s internal review, co-founder Alon Cohen said the Dynamic Fees V1 model, introduced last year, was designed to incentivize serious builders and improve outcomes for high-quality token projects.

Cohen said the rollout initially drew in a wave of new creators, including users with little prior crypto experience, and helped fuel a short-term increase in onchain activity tied to live streaming and token launches on Pump.fun.

Despite that early traction, the team concluded the model failed to alter behavior among the average meme coin deployer. According to Cohen, creator fees proved effective for project-style tokens with organized teams but did little to improve outcomes for the broader meme coin market.

The launchpad’s native PUMP token climbed nearly 8% on Friday following the announcement.

The review also found that creator fees encouraged low-risk token creation over higher-risk trading activity, a dynamic Cohen described as problematic because traders provide liquidity, volume, and price discovery that underpin the platform’s market activity.

Cohen added that creator fees lacked practical utility for many narratives, citing limited user experience tools for directing fees toward community growth, partnerships, or narrative alignment without relying on trust-based arrangements.

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Summarizing the findings, Cohen said creator fees remain useful for certain project tokens but are unnecessary for many meme coins, creating an uneven environment that favored launches over trading participation.

While specific changes were not disclosed, Cohen said Pump.fun will adopt a market-based approach that allows traders to determine whether a token narrative warrants creator fees and how those fees should be applied.

Cohen also emphasized that no member of the Pump.fun or Terminal team will accept creator fees under any circumstances, noting that the feature is intended solely for user communities as the platform moves toward its next phase in 2026.

• What is Pump.fun?
  Pump.fun is a Solana-based platform that lets users launch and trade meme coins through an automated bonding-curve system.
• Why is Pump.fun changing creator fees?
  The platform concluded that current fees encouraged token creation over trading, which weakened market dynamics.
• Who benefits most from creator fees?
  According to Pump.fun, structured project tokens with active teams benefit more than typical meme coin launches.
• When will changes be announced?
  Pump.fun said further details will be shared in upcoming communications as development continues.

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