On the occasion of Pump platform's second anniversary, the airdrop schedule has attracted market attention. Based on the current progress, if it cannot be fulfilled this month, the second half of the year will be the realistic execution window, and more pessimistic expectations even point to next year. The reasons are not hard to understand — the first half of the year is already a period of high volatility in the crypto market, with increasing time costs and market risks. Behind the delay, it may be that the platform hopes to maintain ecosystem activity by extending the cycle. But ultimately, the key lies in the distribution strategy. From historical data, teams in the SOL ecosystem and related platforms tend to sell continuously during token releases rather than precisely timing the peak, indicating that their core goal is to realize liquidity rather than carefully calculating the optimal selling point like traditional institutions. This differentiated operational logic reflects the different incentive mechanisms among ecosystem participants.