Pumpfun, a token issuance frontend disguised as an "open-source family tree," attracts users through token rebates and pre-issuance points events. While the visualization is cleverly designed, it's essentially a memecoin launchpad. Entering a repository name displays a family tree of forks on GitHub. Clicking on any node shows the corresponding token, and you can also directly issue tokens for that repository on Pumpfun. Its tagline is "every repository has a family tree. Some have tokens." The blockchain is Solana. Price and chart data are sourced from DexScreener, GeckoTerminal, and Jupiter. Core Mechanism: Creator Fees Distributed by "Lineage" For tokens issued here, Pumpfun's creator fee distribution is fixed: 70% to the repository owner, 5% to the top two contributors, 10% to the upstream parent repository owner, 3% to the grandparent repository, 2% to the next higher level, and 10% to the forks' own wallet. The ledger is written in the same transaction package as the token creation. The administrator key that can modify the ledger is also invalidated in the same package; it cannot be changed by the token issuer, author, or forks. Authors can claim rewards by logging in with GitHub through Pumpfun; a forks account is not required. Income comes from two sources: the 10% fee share mentioned above, plus a 0.5% transaction fee for in-site transactions and the first purchase of the token. Growth method: A points-based system before token issuance. FORK hasn't been issued yet; the points accumulated now are just "pending allocation records," not your current holdings. 5 interactive activities earn a total of 9,000 points; 2,000 points for each referral; 3,000 points for linking your GitHub account. Season 0: The token issuer earns FORK as the token's market capitalization grows, up to 1 million per coin, with a prize pool of 200 million. Rewards are given for reaching market capitalizations of $10,000, $100,000, etc. In short, this is subsidizing everyone to issue tokens and boost market capitalization. Several points to be wary of: The team is anonymous. The FORK contract address has not been published, nor has the team or vault wallet been listed. Points may be devalued or invalidated. Season 0 rewards can be terminated early at any time. How points are converted into tokens is entirely up to them. Tokens can be issued even without the author's consent. Anyone can issue tokens to any repository; the author neither created nor endorsed it. Authors can request to be blocked, but this only removes them from the forks list; tokens already on the blockchain remain. Imitation tokens already exist. There is already a "FORK community" on http://pump.fun. The official team also stated that FORK will be listed under the forkwiki/fork repository; any other repository called FORK is not genuine. Market capitalization nodes can be manipulated. Samples are taken every 10 minutes; seeing it twice consecutively is considered a success. In the early stages of the curve, the cost of reaching a market capitalization of $10,000 is very low. The truly new element is the "fork royalty": upstream authors automatically receive a share of the revenue from downstream tokens, and this revenue is locked on-chain. This is an interesting experiment in open-source incentives. However, the source of the money remains the same: transaction fees from Memecoin retail investors. The points-plus-invitation system is a typical pre-coin launch cold start approach, and its outcome will likely be similar to other projects in the same category.