12 minutes.
That is the time it took in Fun tokens offer to raise approximately $ 500 million retail investors in several exchanges, including Bybit, Kraken and Kucoin.
The sale with a price of 125 billion tokens at $ 0.004 each, which implies a fully diluted valuation of $ 4 billion for the new token of Memecoin Launcher with headquarters in Solana.
For now, the headlines must wait to put in their hands the file they bought.
Pump.Fun said that the bought tokens will land on the wallets during the next 48–72 hours and remain blocked until the distribution ends, blocking exchanges or transfers.
The team shared the official direction of the Solana contract, pumpcmxqmfrsakq5r49wcjnrayyrqmxz6ae8h7h9dfn, and warned users to reject similar assets.
Read more: The pump persists at 40% of premium over the price of ICO in hyperlichid before the pump.
In total, the ICO of FUM.Fun was established to sell 33% of the 1 billion Pump tokens supply, and 18% has already been assigned before through a private sale. The public allocation was recently reduced from 15% to 12.5%, which was exhausted in just 12 minutes.
Its other assignments include 20% for the team behind the project, 24% for community and ecosystem incentives, 13% for existing investors, 2.6% for liquidity, 2.4% for an ecosystems fund, with the remaining for a fundamental fund and live broadcast incentives.
Pump.fun allows anyone to coin and list a currency with a new token in a few clicks. When a newly coined token reaches a specific threshold, it is listed in decentralized exchanges.
The sale occurs when Token Launchpad metrics show a decrease in activity. Lid data shows that in January the bomb. Fun’s launch volume was greater than $ 11.6 billion, and since then it has constantly decreased to $ 3.65 billion last month.
Similarly, the revenues generated through the launch of the launch platform fell from $ 133 million in the first month of the year to almost $ 34 million last month, according to Defillama data.
While the launch volumes of the platform were submerged, the decentralized Fun Fun Exchange pumping, which was launched in March, has been compensating for the decline, seeing $ 14.3 billion volume in May and $ 10 billion last month. Pumpwap revenues remained at $ 7 and $ 5 million for those months, according to the same data source.
UPDATE (July 12, 15:54 UTC): Add more context at all times.
