12 minutes.
That’s how lengthy it took for Pump.enjoyable’s token providing to boost roughly $500 million from retail traders throughout numerous exchanges, together with Bybit, Kraken, and KuCoin.
The sale priced 125 billion tokens at $0.004 apiece, implying a $4 billion absolutely diluted valuation for the Solana-based memecoin launcher’s new utility token.
For now, holders should wait to get their arms on the token they purchased.
Pump.enjoyable mentioned the bought tokens will land in wallets over the subsequent 48–72 hours and can keep locked till distribution ends, blocking trades or transfers.
The group shared the official Solana contract tackle— pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn— and warned customers to shun look-alike belongings.
Learn extra: PUMP Lingers at 40% Premium Over ICO Price on Hyperliquid Ahead of Pump.fun Token Sale
In whole, Pump.enjoyable’s ICO was set to promote 33% of PUMP’s 1 trillion token provide, with 18% having already been allotted earlier through a personal sale. The general public allocation was lately lowered from 15% to 12.5%, which offered out in simply 12 minutes.
Its different allocations embrace 20% for the group behind the venture, 24% for group and ecosystem incentives, 13% for present traders, 2.6% for liquidity, 2.4% for an ecosystem fund, with the remaining for a basis fund and dwell streaming incentives.
Pump.enjoyable permits anybody to mint and checklist a coin with a brand new token in just a few clicks. When a freshly minted token reaches a selected threshold, it will get listed on decentralized exchanges.
The sale comes because the token launchpad’s metrics present a deepening decline in exercise. DeFiLlama knowledge exhibits that in January Pump.enjoyable’s launchpad quantity was above $11.6 billion, and has since been steadily declining to $3.65 billion final month.
Equally, income generated through the launchpad dropped from $133 million within the first month of the yr to almost $34 million final month, in keeping with DeFiLlama knowledge.
Whereas launchpad volumes plunged, Pump.enjoyable’s decentralized trade PumpSwap, which was launched in March, has been making up for the decline, seeing $14.3 billion of quantity in Could and $10 billion final month. Income for PumpSwap stood at $7 and $5 million for these months, per the identical data source.
UPDATE (July 12, 15:54 UTC): Provides extra context all through.