There is a longstanding problem in the crypto world, especially glaring in the MEME coin sector—projects are everywhere, but only a few can survive and trade.

Recently, a leading token issuance platform revealed data: 98.6% of token projects ultimately end up "rugging." On the surface, the issuance volume seems large, but this incentive model is actually inverted—it charges based on market cap tiers, which ends up benefiting low-risk, low-quality project teams, while high-risk players who truly contribute liquidity and trading volume are neglected.

Co-founder Alon Cohen recently spoke frankly: traders are the lifeblood of the platform. If the incentive mechanism deviates from them, the ecosystem is doomed.

**Reforming this issue is not an overnight task; it will be done in two steps.**

The first step has already been launched—multi-wallet fee sharing. Simply put, it allows distributing transaction fees to up to 10 wallets, and also supports transferring token ownership and revoking update permissions. It sounds highly technical, but it’s actually solving an old pain point: lack of transparency in project team allocations. This builds trust, and fees can be claimed anytime and never expire, so creators won’t rush to cash out, but instead have motivation for long-term development.

The second step is the killer move—market-driven fee determination mechanism. This is the real overhaul of the system. In simple terms, it lets traders vote on which tokens’ narratives deserve creator fee support. This completely reverses the incentive direction, shifting from "creators first" to "market first," allowing the market to filter high-quality projects itself.

**Initial results of the reform are promising.**

Once the news broke, the platform’s native token $PUMP surged over 10%. Recently, trading activity has also been strong, hitting a record daily trading volume of $2.03 billion on January 6. But we must also acknowledge the pressure behind the scenes—the $500 million lawsuit and the harsh reality that 98.6% of tokens ultimately become rug projects cannot be ignored. This underscores how urgent the reform really is.

Ultimately, this reform aims to solve the old problems in the MEME coin ecosystem: piling up quantity is useless, quality is key. Previously, the platform earned from token issuance fees; now, it aims to truly build a market and generate liquidity. This is a shift from "mass-producing token factories" to "cultivating active trading markets." Whether it succeeds will directly impact the future ecosystem of projects like $PUMP, $DOGE, and $SHIB, and it’s worth watching closely.