Ex-Pump.fun Staff Say Layoffs Cut Them Off From PUMP Token Payouts
Former Pump.fun employees claim they were fired before their PUMP tokens vested, just before a 50 billion token unlock.
Pump.fun, a meme coin launchpad on Solana, is facing criticism from former employees who say they were dismissed before their PUMP token allocations vested. The ex-staff claim they missed out on potentially significant payouts because the layoffs occurred weeks before the team unlocked a large tranche of tokens.
According to the report, the affected workers say they were let go before the vesting period ended. The team later unlocked 50 billion PUMP tokens, an amount that would have been shared among eligible employees under the original compensation terms.
Key details
- Former employees say layoffs happened before PUMP tokens vested
- The token unlock involved 50 billion PUMP tokens
- The firings reportedly took place just weeks before that unlock
The incident highlights the risks of token-based compensation, where vesting schedules can leave workers vulnerable if their employment ends before the payout date. Neither Pump.fun nor the former employees have publicly commented beyond the initial allegations.