2.1 The Problem

The excitement of a token launch on platforms like pump.fun is undeniable. However, the economic model presents a significant imbalance:

• Centralized Gains: The creator of the token captures all trading fees, regardless of community effort in generating volume and hype.

• Passive Community: Participants, other than through speculative trading, have no direct mechanism to share in the fundamental success of the launch's trading activity.

• Fleeting Engagement: Once a token launches, the initial community's focus can quickly dissipate, moving to the next new thing.