KEYTAKEAWAYS
- Pump.fun’s Project Ascend introduces dynamic creator fees on PumpSwap, aiming to reduce speculation, boost sustainability, and reward long-term project growth.
- Galaxy Digital tokenizes GLXY stock on Solana via Superstate, enabling KYC-approved investors to trade tokenized equity on-chain with real equity rights.
- Powell signals September rate cut, raising odds to 90%. Trump’s Fed interventions heighten political tensions, adding uncertainty to markets and crypto outlook.
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PUMP.FUN LAUNCHES “PROJECT ASCEND” PLAN
Pump.fun has launched the “Project Ascend” update plan. It aims to improve token sustainability and creator mechanisms. Updates include a new creator fee structure called “Dynamic Fees V1” for PumpSwap, which charges fees based on token market cap levels. Higher-cap tokens get lower creator fees, potentially limiting short-term speculation and guiding projects toward long-term growth.
The platform also accelerates CTO creator fee applications by about 10 times, addressing past delays and improving participation efficiency. Overall, Project Ascend adjusts revenue and process management. Future impact will depend on platform data and user feedback.
Analysis: Pump.fun’s Project Ascend introduces dynamic fees to help creators earn more on PumpSwap while rewarding sustainable projects. Fees decline as token market caps rise, reducing incentives for quick rugs and encouraging longer-term building.
In one day, creators claimed over $2.4 million in fees, with streams reaching thousands and 200K daily viewers, showing early traction. However, trader losses last month were high, underscoring risks. The update may influence meme coin dynamics in Solana’s ecosystem.
GALAXY DIGITAL TOKENIZES GLXY STOCK ON SOLANA
Galaxy Digital and asset tokenization platform Superstate announced a partnership to bring Galaxy’s listed stock GLXY onto the Solana blockchain through tokenization. Verified investors who pass KYC can convert GLXY stock into tokens via Superstate’s Opening Bell platform, enabling transfer and trading on select DeFi platforms.
Superstate noted this marks the first time a public company’s stock is tokenized and directly traded on a public chain. Compliance checks and investor limits currently restrict operations, but the move highlights new pathways for blending traditional securities with blockchain.
Analysis: Galaxy Digital’s tokenization of GLXY stock on Solana with Superstate provides real equity rights on-chain, with over 32K shares tokenized. This enables 24/7 trading and rapid settlement, a major milestone for tokenized assets connecting TradFi and DeFi. However, regulatory hurdles remain, as SEC approval is needed, and investors must pass KYC. If adoption expands, this case could drive broader equity tokenization and accelerate blockchain integration into traditional markets.
FED’S POWELL SIGNALS RATE CUT
At the Jackson Hole meeting on August 22, Powell signaled rate cuts, pushing September cut odds from 75% to about 90%. On the same day, Trump threatened to fire Fed governor Cook, later removing him on August 26. Cook announced plans to sue Trump. Trump stated he will soon hold a majority on the Fed and intends to review local Fed chair appointments more closely. The U.S. Senate Banking Committee will hold a confirmation hearing for Milan’s nomination on Thursday.
Analysis: Powell’s Jackson Hole comments strengthened expectations for a September rate cut, now seen as a 90% likelihood, a development supportive of crypto markets as lower interest rates favor risk assets.
Trump’s removal of Fed governor Cook and his push for greater influence over Fed appointments underscore growing political tensions. While Milan’s upcoming confirmation hearing may provide clarity, heightened uncertainty over Fed independence could fuel volatility across both traditional and crypto markets.
