TL;DR
- Pumpfun confirmed that the ICO for its PUMP token will take place from July 12 to 15, with 150 billion tokens available and mandatory KYC.
- The sale will run on Pumpfun and six centralized exchanges but will exclude users from the U.S. and U.K. due to current regulatory restrictions.
- PUMP will have a total supply of 1 trillion tokens: 33% for the ICO, 24% for community initiatives, 20% for the founding team, 13% for prior investors, and 10% for liquidity and funds.
Pumpfun officially announced the launch of its PUMP token, with an initial coin offering (ICO) scheduled from July 12 to 15, or until all 150 billion tokens allocated for the sale are sold out.
The operation will take place on the Pumpfun platform and six major centralized exchanges, including Bybit, Kraken, Bitget, MEXC, KuCoin, and Gate.io. All participants will be required to complete a know-your-customer (KYC) verification process. Due to regulatory restrictions, users from the United States and United Kingdom will be barred from participating in the sale.
How Will Pumpfun’s Tokens Be Distributed?
PUMP’s total supply will reach 1 trillion tokens, distributed as follows: 33% will be offered during the ICO, 24% will go to community and ecosystem initiatives, 20% will be allocated to the founding team, and 13% to existing investors. The remaining 10% will be divided between liquidity, livestreaming feature funds, an ecosystem fund, and a foundation.
The decision to conduct the sale through an ICO aims to distribute tokens among a wide base of users genuinely interested in the project. Pumpfun seeks to improve the quality and sustainability of the tokens it launches while also increasing social interaction in memecoin trading by investing more in livestreaming and expanding its team.
The token’s launch has stirred controversy. Industry analysts have suggested valuations ranging between $7 billion and $20 billion, driven by mechanisms like fee rebates and token buybacks. The platform stated that the token will be fully functional at launch but is still considering additional incentives for users.
One of DeFi’s Most Successful Protocols
Since its debut in the first quarter of 2024, Pumpfun has grown rapidly, generating $715 million in cumulative revenue. Over the past year, it became the third most profitable protocol in DeFi, with $662 million in earnings, trailing only behind stablecoin issuers Tether and Circle. Other projects on Solana, such as Phantom and Photon, have also benefited from its growth
