Pump.fun, the Solana-based meme coin launchpad, has announced a $3 million "Build in Public" hackathon, bringing on advisors from prominent crypto firms including Polymarket, Delphi Digital, Pantera Capital, Kraken, Jump Crypto, and others. The initiative, announced on January 28, 2026, is designed to support founders who develop projects transparently, with funding decisions guided by open market activity and user traction rather than traditional judging panels.
The hackathon is open to founders at any stage, from early concepts to live products. Applications opened on January 19 and will close on February 18, with some teams expected to secure funding before the deadline. The $3 million in funding will be allocated across 12 selected teams through token-based deals. Participants must launch a token on Pump.fun, retain a portion of the supply, and share regular public updates. The program covers various sectors, including prediction markets, consumer apps, DeFi, trading infrastructure, developer tools, and AI-driven on-chain products.
In a related development, data shows a significant resurgence in meme token activity on the platform. The rate at which Pump.fun tokens "graduate" to decentralized exchanges like PumpSwap has returned to levels not seen since the summer of 2025. In the past day, 269 tokens graduated, representing over 1% of all tokens created that day. This signals a shift from a period where "rug-pulls" were common, with teams now making more effort to preserve liquidity and aim for longer-lasting tokens.
However, the market cap of these newly graduating tokens remains subdued compared to previous cycles. While past graduations saw valuations between $30 million and $100 million, new tokens now rarely exceed $10 million, with many starting below $50,000. The graduation process requires a market cap of roughly $80,000 to $100,000, based on about 80 SOL held in the bonding curve. Pump.fun charges a 1.5 SOL fee for graduation and earns a 1% fee on all subsequent swaps of graduated tokens.
