The Success of Pump.fun’s Memecoin Launchpad ICO
Pump.fun, the memecoin launchpad, has achieved a significant milestone by completing one of the fastest-selling initial coin offerings (ICOs) in recent times.
On July 12th, the Solana (SOL)-based platform announced on X that its official native token, PUMP, was completely sold out within minutes during the ICO event, generating millions of dollars in sales.
“The PUMP public sale has now concluded, selling out in just 12 minutes. We extend our gratitude to our community for their participation. The PUMP tokens will now proceed to the distribution phase.”
All tokens sold through the Pump.fun website and participating crypto exchanges will be transferred within 48 to 72 hours post-sale. Once the protocol confirms completion, the tokens will be tradable and transferable.
In a previous statement, Pump.fun mentioned that 33% of the maximum supply of 1 trillion PUMP tokens were sold in the ICO. Distribution includes allocations for community and ecosystem initiatives, team members, existing investors, and various funds and foundations.
Gate exchange data reveals that 125 billion PUMP tokens were sold at 0.004 USDT each during the public token sale, raising a total of $500 million.
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