2026-01-10 13:30:12

PumpFun is readjusting the creator fee structure. The team found that although Dynamic Fees V1 boosted the enthusiasm for token issuance, it actually discouraged trader participation—which is the true driving force behind the platform's liquidity. The data doesn't lie: the trading volume of the bonding curve in 2025 indeed spiked once, but it was not sustained afterward. Many creators have shifted their focus elsewhere, and the platform needs to find a new balance between creator incentives and trading market activity. Behind this adjustment is actually a rethinking of the platform's long-term healthy ecosystem.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

12 Likes

Reward
12
7
Repost
Share

Comment

0/400

LayerZeroHero

· 01-10 19:15

Ha, it's the old routine of fee adjustments again. The question is, can it really be balanced this time? --- Traders are the real bosses; creators are just workers. I've finally understood this principle. --- Bonding curve surged once and then dropped, indicating that the ecosystem itself is虚, not a fee issue. --- The real problem is the lack of genuine demand. Adjusting fees can't change anything. --- Trying to implement that set of Dynamic Fees was truly a suicidal move. Are you only realizing this now? --- If activity isn't enough, how can you expect to balance? First, focus on retaining users.

View OriginalReply0

Blockwatcher9000

· 01-10 14:00

Raising fees again, feels like PumpFun is always patching things up. Trading volume spikes and then drops, isn't that quite normal? Still the same point—more creators mean traders will leave. It's a bit late to realize this now.

View OriginalReply0

SellLowExpert

· 01-10 13:59

After one round after another, I finally understand... Traders are the true breadwinners --- Adding more creators is useless; if no one trades, everything is pointless --- Are you going to adjust the fees again? Can it stay stable this time? Last time, the hype was pretty intense --- It should have been like this a long time ago; that bonding curve was really a flash in the pan --- Got it, creators celebrate for themselves, but market liquidity is the real key --- Wait... Is this going to increase my trading costs again? --- Sounds nice, but it’s just a re-adjustment because the profit model didn’t work out --- Only realizing after liquidity has dried up? The ones caught in the trap already ran away

View OriginalReply0

RektRecorder

· 01-10 13:57

Traders are the real bosses; pouring money into the creator side to boost popularity is useless... In the end, it's still about trading liquidity to support the market.

View OriginalReply0

SelfSovereignSteve

· 01-10 13:55

Wanting to have both fish and bear paws is easy to say but hard to do --- Another "We've heard everyone's feedback" adjustment, can we keep it stable? --- Trading volume spikes then drops, this script is all too familiar --- Balancing creators and traders? Feels like an endless seesaw game --- That's what they say, but whether the actual incentives are in place is the key --- Dynamic Fees messed up and now we have to start over, the time cost is a bit painful --- Is the ecosystem healthy? I think mainly it's because users are afraid of moving to other platforms --- Data is there and won't lie, the question is how long can the adjustments be maintained --- The previous design approach had issues, but it's not too late to realize that now

View OriginalReply0

AlphaBrain

· 01-10 13:52

It's another cycle of "identifying problems and adjusting strategies." PumpFun has finally pinpointed the pain points this time. --- Traders are the real bosses. This time, I finally understand. --- The fee system is about to change again. The previous setup directly drove traders away. --- Basically, greed got the better of them. Over-supporting the creators ended up killing the market. --- Bonding curve trading volume spikes and then drops... these data hits are a bit painful. --- Balancing is indeed difficult, but if this adjustment can truly retain traders, then it's a win. --- Ecological health > short-term fees. This mindset has finally shifted.

View OriginalReply0

UnruggableChad

· 01-10 13:38

They're starting to adjust fees again. Will they be able to stabilize this time? It depends on the real test.

View OriginalReply0