Pump.fun Token Graduations Reach Seven-Month High Following Cashback Launch
Pump.fun has seen a significant surge in token graduations, hitting a seven-month peak after the introduction of cashback coins. Weekly graduations now stand at 1.15% of all tokens, the highest level since summer 2025. This marks the first time in months the metric has breached the 1% threshold, though it remains below the historical peak of 2%.
The platform's latest strategy to incentivize token creation involves offering two distinct launch tracks: traditional creator fee coins and the new cashback model, which rewards traders directly from trading volumes. This irreversible choice has sparked renewed activity, though few graduating tokens sustain trading beyond a month—most fade within days as liquidity evaporates or profits are taken.
Pump.fun explicitly prohibits community takeover (CTO) tokens using cashback mechanics, aiming to prevent artificial inflation of activity. The rise in graduations has concurrently boosted fees for Pump.Swap, reflecting heightened platform utilization.