New Pump.Fun Update Fixes a Major Flaw in Meme Coin Trading

New on-chain data suggests over 95% of Pump.Fun users lost money trading meme coins, though other reports indicate at least 50.6% of wallets trading Pump.fun-launched tokens posted losses, with only two wallets netting over $1 million.

In response to this environment, Pump.Fun co-founder Alon announced a protocol update to mitigate manipulation behaviors known as "vamping" (dumping tokens into rising demand) and "griefing" (disruptive actions).

The core change restricts token creators to only one opportunity to change fee distribution; afterward, the setting becomes permanent unless a complex governance process is invoked. This limits the ability for creators to switch fees mid-cycle, improving transparency. However, the update does not address fundamental issues like token oversupply, insider advantage, or rapid liquidity extraction, meaning the market structure still heavily favors a small minority of winners.

(Source：BeInCrypto)