Pump.fun Unveils Market-Driven Fund for Early-Stage Crypto Projects
Pump.fun, a Solana-based meme coin launchpad, launched a $3 million fund to support early-stage projects through a market-driven approach, bypassing traditional venture capital. The Pump Fund will invest $250,000 each in 12 projects selected from its “Build in Public Hackathon,” assigning a $10 million valuation per project and requiring participants to retain at least 10% token ownership while building publicly. Selection will prioritize organic user traction over founder pedigree, with winners determined by market demand rather than judges. However, industry experts have raised concerns about transparency, governance, and verifying genuine community engagement, warning of possible manipulation by bots or artificial activity. Questions also remain about tokenholder rights and whether the model can ensure funds benefit users rather than being diverted. These initiatives follow Pump.fun’s efforts to restore its reputation after controversy over harmful livestreamed content and ongoing legal challenges, including a class action alleging they operated an illegal securities exchange.
