Overview
- A 30-day Build in Public hackathon will award $250,000 to 12 teams at $10 million valuations, with submissions open through February 18 and first winners expected within about a month.
- Entrants must launch a token on Pump.fun, retain at least 10% of its supply, post public updates, and compete based on real-time traction rather than pitch panels.
- The initiative is open to crypto and non-crypto projects, and selected teams receive hands-on mentorship from Pump.fun’s founders.
- Industry observers warn of unresolved issues around governance, fair distribution, verification of genuine users versus bots, and clarity on tokenholder rights.
- The shift comes after declining trading volumes and a sharp drop in the PUMP token, as well as a pending class action tied to token issuance and fees that could affect perceptions of the fund.