Solana-based meme coin platform Pump.fun has announced the launch of an incentives program using its native token $PUMP as rewards. This decision aims to restore market position and boost trading activity.
Goals of the Incentives Program
With the launch of the program, Pump.fun aims to increase user engagement and trading activity. The platform has lost some market share recently, and this initiative is expected to help recover its standing.
SDK Update and Distribution Terms
The recently updated Pump.fun SDK supports the incentives program, offering new features for administrators to set key parameters for token distribution. Current conditions involve tracking user activity and allowing users to claim rewards.
Competition and Prospects
The incentives program faces competition from Bonk.fun, which holds over 80% of the market. Despite challenges, the Pump.fun ICO sold out in 15 minutes, indicating potential user interest in the platform.
The incentives program could be a crucial step in restoring Pump.fun's market position in the meme coin space. User response to this initiative will be a key factor in determining its success.
