[Pump.fun Co-Founder: Adjusted Referral Reward Program Algorithm, Marginal Returns Decrease with High-Frequency Posts, Encouraging Quality Token Recommendations] Pump.fun Co-Founder Alon stated in a post that two months ago, the platform launched a $15 million 'Callout Rewards' (referral/recommendation rewards) program aimed at making Pump.fun the most rewarding trading platform. However, the V1 version of the program unintentionally incentivized the wrong behaviors, leading to a flood of low-quality spam and discouraging users from creating high-quality content. Subsequently, the team updated the reward algorithm to prioritize 'quality' over 'quantity.' This means that, similar to other social media platforms, the more recommendations you post in a day, the lower the return rate per recommendation will be. Alon emphasized that with each iteration, they are moving in the right direction.