Solana-based memecoin launchpad Pump.enjoyable has rolled out a brand new characteristic that shifts rewards towards memecoin merchants quite than its deployers — a tweak to its price mannequin that after generated over $15 million in a single day at its peak.
In a put up to X on Tuesday, Pump.enjoyable stated the platform’s memecoin creators can now determine whether or not a token “actually deserves” Creator Charges, or whether or not it’s finest to redirect rewards to merchants participating with the token by way of “Cashback Cash.”
Pump.enjoyable’s unique mannequin options Creator Charges, giving token creators 0.3% of all charges generated by the tokens they launch.
Nevertheless, Pump.enjoyable stated not all tokens deserve Creator Charges as a result of many tokens obtain success with no crew or challenge lead, thereby disproportionately rewarding token deployers.
Creator Charges want change. Not each token deserves Creator Charges.
Now, customers have the power to determine whether or not a token actually deserves Creator Charges, or whether or not it makes extra sense to reward the merchants participating with the token.
Cashback Cash at the moment are stay. Be taught extra 👇 pic.twitter.com/UbYoAbQ1Ya
— Pump.enjoyable (@Pumpfun) February 17, 2026
“Now, merchants can select to interact with tokens they really feel essentially the most aligned with, in the end letting the market determine who will get rewarded and the place the bar is ready.”
Pump.enjoyable stated coin creators should select between the Creator Charges or Dealer Cashback mannequin earlier than launching. As soon as chosen, the choice is irreversible.
Terminal, a crypto buying and selling platform constructed into Pump.enjoyable, stated Cashback Cash are generated on each commerce made and are solely accessible by way of Terminal.
It comes as analysts from onchain analytics agency Santiment stated on Friday that memecoins are displaying indicators of a possible backside.
“This collective acceptance of the ‘finish of the meme period’ is a traditional capitulation sign,” Santiment stated, explaining that when a sector of the market is totally written off, it’s usually the “contrarian time” to start out paying consideration.
Pump.enjoyable charges have fallen over the past 12 months
Pump.enjoyable’s new rewards characteristic comes because it recorded $31.8 million value of charges in January, marking a 75.6% fall from the $148.1 million posted in January 2025 — the platform’s best-performing month to this point.
Pump.enjoyable has introduced in $15.6 million thus far in February, placing it on observe to fall in need of its January whole.
The change to the rewards mannequin additionally follows months of criticism that solely a small variety of merchants have been profiting on Pump.enjoyable, whereas the overwhelming majority of retail merchants have been incurring losses.
Information from Dune Analytics exhibits that of the 58.7 million crypto wallets which have interacted with Pump.enjoyable, solely 4.76 million have profited between $1,000 and $10,000, whereas 969,780 wallets have posted winnings between $10,000 and $100,000.
Lower than 13,700 Pump.enjoyable wallets have reached millionaire standing on the platform.
The brand new characteristic was obtained nicely by many within the Pump.enjoyable neighborhood, whereas others, reminiscent of X person Coos, contemplated whether or not the rewards mannequin might scale back incentives for builders to launch new cash:
“So devs have much less causes to push cash longer, as essentially the most profitable time is when cash are nonetheless on pf, and have simply graduated the place there’s essentially the most quantity.”
Coinbase’s Base shut down its Creator Rewards providing
Whereas Pump.enjoyable has modified its rewards mannequin, others have shut down their rewards packages totally.
On Feb. 10, Coinbase’s Base App sundown its Creator Rewards program as a part of a strategic shift to focus totally on tradable property.
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The Creator Rewards program launched in July and was supposed to make Base, Coinbase’s Ethereum layer-2, a extra social ecosystem, the place exercise translated into earnings.
The Base App X account stated it had paid round $450,000 to 17,000 creators over seven months, with knowledge suggesting that creators earned a median of $26.
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