Key Takeaways
- Pump.Fun’s public sales of its native token, PUMP, will take place from July 12 to 15, 14:00 UTC.
- The public token sale will be conducted on a first-come, first-served basis, with all users required to pass KYC and be whitelisted for eligibility.
- U.S. and UK citizens have all been restricted from participating in Pump.Fun public token sale.
Solana-based memecoin launchpad Pump.Fun is moving ahead with its initial public token sale with an official announcement on its X account confirming July 12 as the day for this public sale. This announcement has generated a lot of buzz in the crypto space, with others questioning whether such sales align with the ethics of decentralization, given that many centralized exchanges are involved.
According to the token sale info, Pump.Fun is planning to launch TikTok, Facebook, and Twitch on Solana through this public token sale, with plans to utilize the generated funds to expand its ecosystem, revolutionize the memecoin creation industry, and establish itself as a key player in the memecoin launchpad space.
Related Read – PumpFun Token Sale on July 12-15 as Gate.io Deletes Page
Token Sale Info and Distribution
Source – Pump.Fun token distribution
According to an official statement on Pump.Fun X account, its native token PUMP will have a maximum supply of one trillion and will be distributed as follows:
- 33% will be sold in the Initial Coin Offering
- 24% reserved for community and ecosystem initiatives
- 20% to the team
- 2.4% to the ecosystem fund
- 2% for the foundation
- 13% to existing investors
- 3% for livestreaming
- 2.6% for liquidity + exchanges
In its initial coin offering (ICO) of PUMP token scheduled on Saturday, July 12, 14:00 UTC will allow 33% of its PUMP token to be sold in an ICO: 18% in a private sale for institutional buyers, while the remaining 15% will be sold out in public with both private and public sales on same terms.
The public sale will allow over 15,000,000,000 PUMP tokens to be sold for $0.004 per PUMP token. This sale will continue until Tuesday, July 15, at 14:00 UTC, at which point the tokens will be sold out.
This public sale is based on a first-come, first-served basis, with all users expected to pass KYC and be whitelisted for token purchase. Additionally, Pump.fun has partnered with centralized exchanges such as Bybit, Gate.io, MEXC, and others to enable users in the crypto space to participate in the public sale, with Bybit spearheading this initiative.
All tokens allocated after public sales are tradable across different exchanges with no vesting periods.
Finally, citizens from the U.S. and the UK have all been restricted from participating in this public sale, according to a Pump.fun announcement on their official X account.
Controversies Over PUMP Launch
Many crypto degens have questioned the route taken by Pump.Fun for its public and private presale rounds, getting centralized crypto exchanges involved is the opposite of what it stands for: decentralization.
While this is troubling for many, other traders are optimistic about the presale rounds and how they will be conducted in the coming days, as well as the potential the PUMP token would present for traders.
