#密码资产动态追踪 Recently saw a leading MEME coin platform adjusting its incentive model, found it quite interesting, so sharing some observations.

**Where's the problem**

The old approach was to charge based on market cap tiers. But what happened? It actually encouraged the creation of all kinds of low-quality, low-risk tokens. About 98.6% of tokens on the platform eventually turned into "exit scam" projects, which is pretty disheartening. Meanwhile, high-risk traders who contribute liquidity and trading volume to the platform are severely under-incentivized. This is like putting the cart before the horse—creators are favored, traders are neglected.

Alon Cohen, the co-founder of the platform, openly stated: traders are the lifeblood of this ecosystem. If the incentive system diverges from them, the market’s health will be seriously compromised.

**How to improve**

The reform is being carried out in two parts. The first is the multi-wallet fee sharing feature, which supports distributing fees to up to 10 wallets, and also allows transferring token ownership and revoking update permissions. Basically, it uses technology to solve the lack of transparency in project team allocations, helping to build trust. Fees can be claimed at any time, never expire, so creators don’t need to rush to cash out and can focus more on development.

The real big move is the planned market-based fee decision mechanism. It allows traders to vote with their actions on whether a token’s narrative is worth supporting with creator fees. This isn’t just a feature update but a deep mechanism overhaul—completely shifting the incentive balance from token deployers to market participants, letting the market itself select high-quality projects.

**Current situation**

After the reform announcement, $PUMP surged over 10%, and recent trading activity has been quite lively, with a record daily trading volume of $2.03 billion on January 6. But the platform also faces many challenges, including a $500 million lawsuit, so the pressure is significant.

Ultimately, this reform aims to solve the core contradiction in the MEME coin ecosystem: large issuance but low quality. It’s no longer about simply increasing token quantity, but about channeling resources through mechanism design toward areas that generate real trading and liquidity. From "creating tokens" to "cultivating markets," this transformation isn’t easy. Whether it succeeds will directly impact the platform’s long-term prospects.

$DOGE $SHIB