In brief
- The Solana-based platform will fund 12 projects with $250,000 each via a “Build in Public” hackathon, requiring founders to launch tokens and attract users in real time.
- Pump.fun said it will prioritize organic traction over founder credentials, opening the program to crypto and non-crypto projects alike.
- Critics warned the model raises unresolved questions around governance, transparency and whether on-chain traction can be reliably verified.
Solana-based meme coin launchpad Pump.fun announced Monday a $3 million fund that replaces traditional venture capital gatekeepers with market-driven token launches.
The platform’s new investment arm, Pump Fund, will distribute the capital through its “Build in Public Hackathon,”…
