Pump.fun, a memecoin launchpad on the Solana blockchain, just had a ridiculously fast and successful initial coin offering (ICO). Their native token, PUMP, completely sold out in a mere 12 minutes on July 12th.
Lightning-Fast Sale
The platform announced on X (formerly Twitter) that the public sale was a huge success, raising millions of dollars. They thanked their community for participating and said that token distribution would happen within 48 to 72 hours. Once the distribution is complete, PUMP tokens will be available for trading.
Token Allocation
Pump.fun previously revealed their token allocation plan:
- 33%: Sold during the ICO.
- 24%: Reserved for community and ecosystem projects.
- 20%: Allocated to the team.
- 13%: For existing investors.
- 2.4%: For the ecosystem fund.
- 2%: For the foundation.
- 3%: For livestreaming initiatives.
- 2.6%: For liquidity and exchanges.
Massive Funding
According to Gate.io exchange data, the ICO sold 125 billion PUMP tokens at $0.004 USDT each, resulting in a whopping $500 million raised.
Disclaimer: This information is for general knowledge only and is not financial advice. Investing in cryptocurrencies is risky, so always do your own research before investing./p>