金色财经
金色财经|Nov 18, 2025 23:45
**[Pump's New "Mayhem Mode" Fails to Boost Token Issuance or Platform Revenue in Its First Week Online]** According to Golden Finance, last week, Pump.fun launched "Mayhem Mode," an optional token creation setting. Within the first 24 hours after a token goes live, an autonomous AI trading agent will buy and sell the new token. This feature involves the additional minting of 1 billion tokens for the agent to trade, with any unused tokens being destroyed after 24 hours. Notably, the agent's trading volume and frequency are both limited, and it does not pay any protocol fees. Against this backdrop, "Mayhem Mode" aims to facilitate early price discovery, allowing more new tokens to gain attention faster. Since the issuance process remains unchanged, the expected improvement primarily lies in token exposure. However, this feature may be perceived as akin to "wash trading," as a single entity with a positive influence artificially increases trading activity. Nonetheless, factors such as public disclosure, voluntary user activation, and the agent not paying protocol fees make it closer to a platform-provided liquidity guidance or market-making mechanism. If Pump combines Mayhem with a stronger content screening and ranking system, this additional first-day trading activity could increase the likelihood of certain tokens "breaking out." However, without these complementary measures, Mayhem risks becoming a "high noise, low yield" feature.
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