Solana meme coin launchpad Pump.fun has launched a new initiative to promote its ecosystem and attract more creators and users to its platform. This development has led to a significant surge in the PUMP price, which is up double digits today.
Pump.fun Unveils Project Ascend
Pump.fun, Solana’s largest meme coin launchpad, has unveiled Project Ascend — a sweeping upgrade designed to scale creator rewards and improve sustainability across its ecosystem.
The initiative introduces Dynamic Fees V1, a new tiered system where creator fees decrease as a project’s market cap grows. This update applies to all PumpSwap tokens — both new and existing — while maintaining the same protocol and liquidity provider fee allocations.
“Dynamic Fees V1 is a brand new tiered Creator Fee structure designed specifically for acceleration and longevity. Now, creating on Pump.fun will be 10x more rewarding, meaning we’ll see an exponential increase in talent onboarding, from streamers to startups,” Pump.fun wrote on X.
By rewarding higher-market-cap projects with lower fees, Pump.fun says the system will encourage both sustainability and growth. Creators can now potentially earn 10x more through marketing, funding, and scaling opportunities, positioning the platform as a hub for community-driven crypto innovation.
The launch of Pump.fun’s Project Ascend follows CoinGape’s report that the Solana meme coin launchpad hit 1.3 million active addresses last month, more than any other Solana launchpad. However, traders allegedly collectively lost $66 million, with over 60% ending the month in the red.
PUMP Price Rises Amid New Initiative
The launch of Project Ascend triggered a 14% surge in PUMP’s price, building on momentum from the platform’s aggressive token buyback program. Last week, Pump.fun repurchased $10.6 million worth of PUMP tokens, bringing the launchpad’s total buybacks to nearly $59 million, or 4.3% of supply.
Following the update, PUMP traded around $0.003, with volumes climbing over $220 million in 24 hours, according to CoinMarketCap data. The rebound comes after the token hit an all-time low of $0.00228 in late July. However, the token’s price remains below the ICO price of $0.004, despite the rebound from its all-time lows.
Meanwhile, it is worth noting that Pump.fun continues to outperform competitors. Data from Jupiter shows the launchpad controls 84% of Solana’s meme coin market share, with rivals like LetsBonk trailing at under 6%. Pump.fun has also surpassed $800 million in lifetime fees through its 1% swap charges.
By combining Project Ascend’s fee overhaul with liquidity buybacks, Pump.fun is betting on sustainability and broader adoption. Likewise, the initiative could help offset trader losses by making the platform more rewarding for creators, startups, and streamers alike.
Coingape Staff
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Source: https://coingape.com/pump-price-surges-14-as-pump-fun-unveils-project-ascend/