The leading platform in the Solana ecosystem's memecoin space has recently made a big move—officially announcing the launch of a funding division and introducing the Pump Fund plan. The first phase involves investing $3 million in a BiP hackathon, aiming to support 12 high-quality projects.

This approach is a bit different. Instead of the traditional VC judging system, it lets the market be the judge—users directly bet on participating projects, which is equivalent to investing. The projects must issue tokens and lock more than 10% of their supply. It's quite interesting.

Here's the background: this platform once made a fortune during the memecoin craze two years ago, raising over $1 billion with its own PUMP token. But now? It has fallen 70%, nearly halving from its peak. Plus, the recent cooling off of meme coin popularity has made the entire sector a bit awkward.

This time, shifting from simple memecoin issuance to ecosystem financing can be seen as an active attempt to break the deadlock. Whether it can turn the tide in a cooling market depends on how subsequent operations unfold. The market will naturally provide the answer.