Memecoin’s launchpad Pump.fun imposed a new restriction regarding creator fees. This limited token deployers to only one change post-launch in the way that fees were distributed.
Alon Cohen posted a comment on X by Pump.fun’s co-founder. said The update is designed to reduce “griefing” — where creators alter fee recipients after a token gains traction — and other forms of manipulation tied to fee redirection, where token creators can alter who receives fees after a coin gains traction.
After the first redirection, the tokens will be permanently locked.
Latest update from Pump.fun follows a broader overhaul announced in JanuaryThe platform acknowledges that the creator-fees model has distorted incentives in favor of token holders over traders.
Pump.fun’s efforts to give traders more incentives
The platform made changes on Jan. 10 such as multi-wallet distribution, post-launch control and rewards that better match trading activity.
On Feb. 17, Pump.fun introduced “Cashback Coins,” requiring creators to choose at launch Once selected, the high-level model is locked.
This change was made to balance the rewards for token traders and deployers. The overall fee structure was predetermined at launch. However, the creators of coins or admins can still change the wallets that receive the fees as well the distribution after a coin has gone live.
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The underlying receivers could change even though the model did not, which created potential issues of trust for traders. In the latest update, this flexibility is reduced by only allowing one change post-launch to recipients of fees. After that point, configurations are permanently locked.
Early reactions from the community suggest that the changes may not have much impact on trading dynamics across the platform. X user gake said The change may not be as helpful to another user. described It is a “drop in the bucket” This shows that the team at least acknowledges the problem.
As fees and volumes fall, Pump.fun activities drop.
Pump.fun is changing its incentives structure because its fees have fallen from their peak. DefiLlama data shows In January 2026 the platform reported $31.8 millions in fees. This is down 75% compared to $148 million recorded in January 20,25. January 2025 was its highest-performing month.
In February 2026 the platform reported $25 million revenue. This is down from $75 million revenue recorded in February of 2025.
This platform is now trading at a higher volume followed A similar pattern. According to DefiLlama Pump.fun’s monthly volume was over $11.6 billion dollars in January of 2025. This fell to $2.1 billion by January of 2026. That is a drop of approximately 81%.
Monthly volume was $1.91 Billion in February 20,26. That’s a 68% drop from the February 2025 level of $6.1 Billion.
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Source: cointelegraph.com
