Pump.fun launched Holder Rewards, a new token type that streams trading fees straight to holders, and retired Cashback Mode for every new launch on the platform.

Holder Rewards tokens route trading fees into a dedicated distribution wallet that pays out several times an hour, with bigger and longer-held positions earning more; any wallet above $20 qualifies. At launch there is no hybrid: creators pick either a standard Creator Fee token, where fees go to the team, or a Holder Rewards token, where fees flow back to holders. Existing Cashback and Creator Fee tokens can convert to Holder Rewards if they meet Pump.fun's criteria, but the switch is permanent.

Cashback Mode, added in February to reward active traders, is gone from standard launches after it kept favoring creators on abandoned projects. It now survives only on Custom Pairs, where creators still choose between a Creator Fee or Cashback.

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