Original | Odaily Planet Daily ( @OdailyChina )
Author: Wenser ( @wenser 2010 )
As the only two bright crypto platforms in this cycle, Pump.fun, which has led the entire Meme coin craze, announced tonight that it will launch 1C0 on July 12, which also means that the PUMP token will be launched soon. At the same time, exchanges including Binance, Bybit, Bitget, Gate, MEXC, Kucoin and others have successively announced the launch of PUMP tokens, which also provides certain expected support for the rise of PUMP tokens. Odaily Planet Daily will briefly sort out the information related to the issuance of PUMP tokens in this article for readers' reference.
PUMP token economics model: 24% for the community and ecosystem, 33% for ICO public sale
Pump.fun published an article on the X platform to announce the PUMP token economics. The total supply of tokens is 1 trillion, including:
33% will be sold through an initial coin offering (ICO);
24% is reserved for community and ecosystem initiatives;
20% is allocated to the project team;
2.4% for ecological fund;
2% is allocated to the foundation;
13% allocated to existing investors;
3% is used for live broadcast related incentives;
2.6% is used for liquidity and trading platforms.
It is reported that 33% of the tokens will be sold in 1CO, 18% for institutional investors and 15% for public sales. Institutional investors and public sale buyers follow exactly the same investment terms, including the sale price, full unlocking on the first day, etc. Each token will be sold at $0.004; the private placement shares have been allocated.
PUMP Token Economics
It is worth mentioning that the total supply of PUMP tokens is 1 trillion, which is far beyond the regular token supply (usually 1 billion, while Meme coins are usually 10 billion, and at most 100 billion). It has to be said that Pump.fun's token PUMP, which is based on the concept of "one-click coin issuance platform", may become one of the Meme coins with the largest number of tokens.
1C0 Participation Notes: 6 major exchange channels, British and American citizens are prohibited from participating
According to the official information of Pump.fun, there are three main steps to participate in 1C0:
1. Complete KYC via https://token.pump.fun/ (UK and US citizens are prohibited from participating);
2. The six major exchanges (Kucoin, Kraken, Bybit, Bitget, Gate, and MEXC) will simultaneously open participation channels. If the user has completed the platform KYC, there is no need to repeat it;
3. The PUMP token ICO will be open at 22:00 Beijing time on July 12th until all 150 billion tokens are sold out, or end at 22:00 Beijing time on Tuesday, July 15th, whichever comes first. After the public sale ends, ICO participants will receive tokens, which are initially non-transferable (non-tradable), and token transfer rights will be enabled within 48-72 hours after the end of ICO.
PUMP 1C0 channel
The business behind PUMP ICO: $4 billion valuation, $600 million in public offerings, $700 million in private offerings
As the "Meme coin cycle engine", pump.fun once occupied more than 90% of the market share in the coin issuance platform track, leading the "one-click coin issuance platform craze". However, after the TURMP official Meme coin completed its "last dance" and drained market liquidity this year, the heat of the crypto market gradually returned to Bitcoin and mainstream markets dominated by compliant institutions, and Meme coins fell into silence.
In addition to the declining market, competitors are also rising. Just recently, in terms of the number of coin issuance projects, Letsbonk.Fun, a meme startup platform under BONK, once surpassed Pump.fun. According to Dune data , in the past 24 hours, the number of coins issued by the Letsbonk.Fun platform was more than twice that of the latter, and its number of users also increased to nearly half of the latter. The former's "number of graduated tokens" within 24 hours was about 3 times that of the latter. This may be one of the reasons why Pump.fun is eager to issue coins and start the "second spring of platform business."
Comparison of the number of coins issued by one-click coin issuance platforms
The question that follows is: Who will buy the coins? Is the conspiracy of raking in $600 million in ICOs a “harvest” of Chinese users?
Previously, Pump.fun, as a phenomenal platform application in the Solana ecosystem and even in the cryptocurrency market, was once regarded as a model of Mass Adoption. It was also dubbed as the "10th largest gambling company in the world in 2024" by the X platform KOL @SigmaSquared_ due to its revenue of about $1 billion. According to its post , if calculated by company revenue, pump.fun will rank 10th in the world in terms of gambling company revenue in 2024. It even added in the comment area: If calculated by net profit, pump.fun is expected to rank 5th.
However, one of the things that Pump.fun was criticized for by crypto users was that it “took income from the people but did not use it for the people.” Previously, the team had exchanged platform protocol income for SOL many times, and also deposited hundreds of millions of dollars worth of SOL into the Kraken exchange for sale. At a time when on-chain liquidity is tightening, it can be called a “blood-sucking king.”
However, perhaps in order to ensure the smooth progress of TGE and 1C0, Pump.fun has not deposited SOL to Kraken for nearly a month since June 10. This may be one of the reasons why SOL has not seen a sharp decline recently.
At present, the main target of the PUMP token 1C0 public offering is still the crypto population other than British and American citizens represented by Chinese. The official team may be convinced that the market still has hope for the issuance of coins by the largest Meme coin launch platform, but the issuance of PUMP coins has reminded many community users of the "last death knell" of NFT's decline from prosperity - the grand occasion of Yuga Labs' sale of Otherside Monkey Land. In just one day, the gas fee burned 20,000 ETH. After the crazy trading, it was the bubble bursting and the cold winter of no recovery.
Today, as crypto users are repeatedly harvested and increasingly immune to "large projects with high valuations", can the tokens of Pump.fun be paid for by the market? The answer will be revealed soon.
