Pump.fun limits fee wallet edits as revenue and volume fall 

Pump.fun has tightened its creator fee rules as it tries to reduce concerns around post-launch fee changes. 

The update limits token deployers to one change in fee recipient settings after launch, after which the configuration becomes permanent. Pump.fun introduced a new rule that allows token creators to change fee recipient settings only once after launch. After that single change, the fee setup becomes locked and cannot be changed again.

Pump.fun co-founder Alon Cohen said in an X post that the move aims to reduce “griefing” and other forms of manipulation linked to fee redirection. The issue has drawn attention because creators could previously change who received fees after a token had already gained traction on the platform.

Platform continues broader fee model changes

The latest rule follows earlier changes Pump.fun announced in January. At that time, the platform said its creator-fee model had created uneven incentives by giving token deployers a stronger reward position than traders.

On Jan. 10, Pump.fun rolled out updates such as multi-wallet distribution and post-launch controls. The platform said those changes were meant to improve transparency and align rewards more closely with trading activity across the platform.

Meanwhile, Pump.fun added another feature on Feb. 17 called “Cashback Coins.” Under that model, creators had to choose at launch whether fees would go to themselves or be redirected to traders. That high-level decision became fixed once selected.

Even so, creators or coin admins could still change the specific wallets receiving those fees after a token went live. That meant the overall model stayed the same, but the actual recipients could still shift. The new update reduces that flexibility by allowing only one post-launch change before the fee setup locks permanently.

Revenue and volume remain below 2025 levels

The rule change comes as Pump.fun’s activity remains well below its 2025 peaks. DefiLlama data showed the platform recorded $31.8 million in fees in January 2026, down about 75% from $148 million in January 2025.

The same trend appeared in revenue and trading volume. Pump.fun posted $25 million in revenue in February 2026, down 66% from nearly $75 million a year earlier. Monthly trading volume also fell from more than $11.6 billion in January 2025 to about $2.1 billion in January 2026. In February 2026, volume stood at about $1.91 billion, down 68% from $6.1 billion in February 2025. Early community reactions were mixed, with one user saying the change might not help much, while another called it “a drop in the bucket.”