The newly launched Pump derivative version is indeed interesting. It incorporates four mechanisms: buyback and burn, automated market making, holder distribution, and others, which have not been seen in the native version.

From a technical perspective, it is somewhat similar to the upgrade-style siphoning that Sushi did to Uniswap back in the day—the core logic is the same, but all the missing functionalities have been filled in. Automated market making is particularly crucial as it lowers the liquidity management threshold; the holder distribution mechanism directly stimulates the desire for long-term holding.

Whether it can succeed depends on community operation, but this idea does address several pain points of the original product. A team with technology and ideas doing this is quite promising.