Crypto Journalist
Anas Hassan
Crypto Journalist
Anas Hassan
Share
Pump.fun, the prominent Solana-based memecoin launchpad, has announced that its public token sale will commence on Saturday, July 12, at 14:00 UTC, and will continue until July 15th or until the token allocation is exhausted.
Based on an official announcement from July 9, the initial coin offering (ICO) will operate under a first-come, first-served framework, with 150 billion PUMP tokens priced at $0.004 per token made available.
This sale aims to generate up to $600 million in funding and accounts for 15% of the token’s total supply.
Participants can purchase tokens directly through the PumpFun platform after completing KYC verification, or via several prominent cryptocurrency exchanges such as Bybit, Kucoin, Bitget, MEXC, Kraken, and Gate.io.
Accepted payment methods include Tether (USDT), Circle’s USD Coin (USDC), Solana (SOL), and exchange-specific Staked SOL tokens.
However, the ICO excludes participation from US and UK citizens and residents, as well as users of EU-regulated platforms such as Bybit.eu, citing regulatory compliance concerns related to the European Union’s Markets in Crypto-Assets Regulation (MiCA).
PumpFun co-founder Alon revealed that beyond making PUMP tokens accessible to the general public, the Solana-based memecoin platform now seeks to disrupt established social media giants, including Facebook, TikTok, and Twitch.
Alon argued that modern users have become enslaved by algorithmic control, face monetization restrictions, and endure widespread censorship.
He further noted that bot proliferation has rendered many platforms nearly unusable, while AI-generated content has overwhelmed authentic user interaction, suggesting that the demise of traditional social media is approaching.
The company’s vision for the public offering centers on creating a Solana-native ecosystem that truly enables creators and innovators to take charge of their financial futures while providing their communities with opportunities to benefit from their achievements.
Following its January 2024 launch, pump.fun has worked to establish itself as a recognizable brand by enabling users worldwide to create and trade tokens without barriers.
The platform achieved remarkable growth milestones, becoming what many consider the fastest-expanding company in history by reaching $100 million, $300 million, and $500 million in revenue more rapidly than any previous company.
Recent speculation suggests that Pump.fun intends to raise $1 billion through its PUMP token sale, potentially valuing the company at $4 billion.
The published tokenomics structure supports these projections, with a maximum supply of 1 trillion tokens distributed as follows: 33% allocated to the ICO, and over 44% designated for ecosystem development and the team.
Community reactions have been mixed. While some participants express enthusiasm about potential exchange listings and trading prospects, others voice concerns about the platform’s market impact.
Prominent Solana memecoin key opinion leader “Bonk Guy” stated, “After considerable reflection, I’ve concluded that Pumpfun’s ongoing market dominance poses a potential existential risk to the memecoin ecosystem.”
He noted that when initial reports about the Pumpfun ICO emerged on June 3, several leading Solana-based memecoins experienced significant declines: FARTCOIN fell by 30%, WIF dropped by 24%, and POPCAT declined by 28%.
Similar market reactions occurred again yesterday following announcements that the Token Generation Event (TGE) would take place on July 12.
He characterized the forthcoming PUMP ICO as “the great extraction”, describing it as an event poised to withdraw billions of dollars from an already pressured memecoin market within a compressed timeframe.
Despite the excitement surrounding its token launch, Pump.fun has experienced a substantial 75% decline in trading volumes since the memecoin market peaked in January, according to data from Dune Analytics.
DefiLlama documented an even more severe 80% reduction in the platform’s daily trading volume over the previous six months.
This decline coincides with an increase in competition in the sector.
Earlier this week, Cryptonews reported that emerging competitor LetsBonk had surpassed Pump.fun’s daily revenue generation, achieving $1 million in earnings and indicating a possible shift in memecoin market leadership.
Credit: Source link
