Pump.fun to Launch PUMP Token via ICO on July 12

Pump.fun, the Solana-based meme coin platform that lets anyone create and trade tokens, is launching its token, PUMP, via an Initial Coin Offering (ICO) on Saturday, July 12. The company said PUMP is the “official native token” of the pump.fun protocol and is part of a broader effort to build a decentralized alternative to Facebook, TikTok, and Twitch. The pitch is to create a social platform that rewards attention with money and not just engagement metrics. According to Pump.fun, 33% of PUMP’s total 1 trillion supply will be sold in the ICO. Of that, 18% has already been allocated via a private sale, and 15% will be made available to the public on launch day. Both tranches were priced identically at $0.004 per token, and all tokens sold during the sale will be fully unlocked from day one. Other allocations include: 24% to ecosystem and community initiatives 20% to the core team 13% to investors 2.6% for liquidity The rest split between a foundation fund, live streaming incentives, and a 2.4% ecosystem fund To participate in the public sale, users must complete KYC via pump.fun or partner exchanges, including Bybit, Kraken, Bitget, MEXC, KuCoin, and Gate. U.S. users are excluded. Pump.fun said it reached $100 million, $300 million, and $500 million in revenue faster than any company in history, derived mainly from rapid issuances of memecoins on attention-driven topics every day, of which the platform took a cut on each issuance and volumes. The protocol has been at the center of Solana’s meme coin boom since early 2024, known for low-friction token launches and chaotic viral pumps.

Source: CoinDesk