Quick answer: The Pump.fun Squads competition pays $2.5 million to the three teams with the highest memecoin profit over two weeks, with sign-ups closing Oct. 26, 2026, at 14:00 UTC. It lands as Pump.fun launchpad revenue fell about 36% between Oct. 4 and Oct. 24, per DefiLlama, and a #BoycottPumpFun tag spreads on X.
The Pump.fun Squads competition is Pump.fun’s biggest trading contest so far, and it arrives at an awkward moment. The Solana memecoin launchpad is offering $2.5 million to the three best-performing trading teams, while its own numbers are sliding and a boycott hashtag is trending on X.
Pump.fun announced the contest on Oct. 23, 2026. Co-founder Alon Cohen (@a1lon9) posted the rules on Oct. 24: teams must register in the Squads tab by Monday, Oct. 26, 2026, at 14:00 UTC, or they are left out.
How does the Pump.fun Squads competition work?
According to Pump.fun and Cohen, the contest runs for two weeks once it starts on Monday. The three Squads with the highest profit and loss (PnL) win:
| Place | Prize |
|---|---|
| 1st | $1,500,000 |
| 2nd | $750,000 |
| 3rd | $250,000 |
Key rules from the official posts:
- Score: realized PnL plus unrealized PnL (uPnL) at the end of the contest.
- Where trades count: only the Pumpfun app, Pumpfun web and the Terminal platform. Perpetual futures PnL does not count, even after the Pump.fun perps launch on Hyperliquid.
- Team roster: every member must join the Squad before the 14:00 UTC deadline.
- Payout split: members are paid by how much they added to the Squad’s result, so a member who drags the team down gets less.
- Anti-gaming: Pump.fun says it will watch the leaderboard and “punish offenders.”
Why are traders calling for a Pump.fun boycott?
The prize pool comes as frustration with the launchpad grows. X’s post counter shows 3,054 posts using #BoycottPumpFun between Oct. 20 and 12:52 UTC on Oct. 25, 2026. Daily use jumped from 9 posts on Oct. 20 to 1,067 on Oct. 24, and 1,183 more came on Oct. 25 before midday UTC.
The complaints on X fall into three groups: memecoins that crashed soon after being promoted, a feeling that marketing is misleading, and a demand for real rewards for regular traders. Some users argue a profit contest helps large, well-funded teams most. Others joked that it pushes people to take bigger risks. These are opinions shared on X, not findings by any regulator or court.
Memecoin scandals are not new; a judge recently dismissed the LIBRA case in Argentina, and sudden pumps and dumps like IRYS’s 1,078% spike keep traders wary.
Is Pump.fun revenue falling?
Yes, based on DefiLlama data checked on Oct. 25, 2026:
- Launchpad revenue: $1.15 million on Oct. 24, down from $1.78 million on Oct. 4, a drop of about 36% and the lowest daily figure of the past three weeks.
- Launchpad volume: $119.1 million on Oct. 24, down from $184.2 million on Oct. 4, a 35% fall.
- PumpSwap volume: $112.7 million on Oct. 24, far below the $545.4 million peak on Oct. 16.
- Whole group: the Pump protocol, which includes pump.fun, PumpSwap, Terminal and the mobile app, still made about $64.6 million in revenue over the previous 30 days.
Combined, the launchpad and PumpSwap traded about $232 million on Oct. 24, well below the $400 million a day that traders on X cited as a floor. One quiet Saturday does not make a trend, but the three-week slide is clear.
What does it mean for Solana memecoin traders?
A $2.5 million prize could bring volume back for two weeks, since traders must use Pump.fun’s own apps to score. That could lift fees for Pump.fun and activity on Solana; check the live Solana price for the wider market.
The risks are real, though. Scoring on unrealized PnL rewards holding volatile tokens to the end. Thin memecoins can drop 90% in minutes. Most traders will not win, and fees add up with every trade. If the boycott keeps growing, the contest may mostly attract existing power users rather than new ones.
Not financial advice. Memecoins are extremely risky; do your own research (DYOR) and never trade money you can’t afford to lose.
Pump.fun Squads Competition FAQ
When is the deadline for the Pump.fun Squads competition?
Squads must register in the Squads tab of the Pumpfun app by Monday, Oct. 26, 2026, at 14:00 UTC. All members must join before that time, according to co-founder Alon Cohen’s Oct. 24 post on X.
How much can you win in the Pump.fun Squads competition?
The total prize pool is $2.5 million: $1.5 million for first place, $750,000 for second and $250,000 for third. Each member’s share depends on how much they added to the Squad’s PnL.
Do perps trades count toward the Pump.fun Squads competition?
No. Pump.fun says perpetual futures PnL does not count. Only trades on the Pumpfun app, Pumpfun web and Terminal are scored.
What is #BoycottPumpFun?
It is a hashtag used by traders unhappy with memecoin crashes and Pump.fun’s marketing. X counted 3,054 posts with the tag from Oct. 20 to midday UTC on Oct. 25, 2026.
Is Pump.fun still making money?
Yes. DefiLlama shows the Pump protocol earned about $64.6 million in revenue over the previous 30 days, but launchpad revenue fell to $1.15 million on Oct. 24 from $1.78 million on Oct. 4.
