pump.fun Exposed for Poaching Rival KOLs With Huge Sums, Escalating Meme Launch Platforms' Business War Again

BlockBeats News: Multiple crypto KOLs have recently revealed that meme launch platform pump.fun is offering lucrative recruitment packages (a $20,000 signing bonus plus $30,000 monthly compensation) to users of rival platform FOMO to migrate to its app. The agreement comes with strict migration terms and payment conditions, requiring users to transfer funds and positions, use a dedicated wallet, publicly declare it as their sole wallet, permanently delete their FOMO accounts, prohibit use of this wallet on competing platforms, and include a non-disparagement clause. This controversial poaching move unfolds against the backdrop of pump.fun’s persistent revenue slump and FOMO’s record revenue growth. Per DefiLlama data, pump.fun earned $6.49 million in revenue over the past seven days, holding an undisputed top position, though pressure from trailing competitors remains intense. FOMO generated $2.64 million in revenue over the same period, having grown rapidly since July and hitting successive all-time highs. Additionally, Flap — a meme coin platform that has performed well recently on BSC and the Robinhood chain — recorded $1.39 million in revenue. Against this backdrop, paired with pump.fun’s newly launched social trading feature this week, it is evident that pump.fun’s high-value poaching agreement is designed to nip its fast-growing rival in the bud. Notably, despite the highly controversial nature of this action, crypto lawyer Ariel Givner analyzed that pump.fun’s move does not violate any laws or regulations, representing a standard commercial transaction.