Pump.Fun’s Bounties Platform Is a Black Hole of Circular Grifting
Would you run into a crowded university lecture hall, fart into a megaphone, and bellow “fartcoin” at the top of your lungs? If so—and should you have the means to document this stunt on video, preferably capturing the audience’s reaction—you may claim a reward of approximately $1,000.
The money, of course, will be dispensed in fartcoin, a meme cryptocurrency trading at a little over 10 cents at time of publication, with a total market capitalization hovering around $130 million.
Such is the promise of Pump.Fun GO, a new feature on Pump.Fun, one of the fastest-growing crypto businesses of the past few years. It supposedly allows users to “pay anyone to do anything.” Crypto bounties are put up by individuals—or pooled from multiple wallets—and held in escrow by Pump.Fun until a countdown clock runs out. Finishing a task is supposed to net you the prize payout; creators get a...
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