Pump.fun has completed its ICO for PUMP token, raising $600 million
The post Pump.fun has completed its ICO for PUMP token, raising $600 million appeared on BitcoinEthereumNews.com. Pump.fun, the popular Solana-based memecoin launchpad, has completed its PUMP token’s initial coin offering (ICO). The massive success of the ICO comes amidst criticisms of Pump.fun and early concerns as to how the presale would go. The protocol announced it a few days ago, noting that the ICO would start from July 12 and end by July 15 or until the available tokens sold out. With 150 billion PUMP tokens, which represent 15% of PUMP’s total supply available for sale through the ICO at a price of $0.004, the successful sale means that Pump.fun raised $600 million through the public sale. Pump.fun has also confirmed the conclusion of the sale, noting that it happened within 12 minutes and praising its community for participating. It said: “The $PUMP public sale has now ended. We are delighted to reveal that the $PUMP public sale was able to sell out in only 12 minutes. We would like to thank our entire community for participating!” With the sale ending, the protocol said that the distribution phase will start within 48 – 72 hours. Based on the protocol’s plan, the token will only become tradable after the distribution phase has ended. Interestingly, the ICO did not allow US and UK residents to participate with Know Your Customer (KYC) verification in place to prevent residents of those countries from participating. However, the restrictions did not impact interest in PUMP, with demand outstripping supply. Pump.fun warns users about copycat tokens Meanwhile, the protocol has warned users to be careful with copycat tokens that may have similar names. It noted that the contract address for the official PUMP token is pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn. It said: “Do not trust any other tokens. The $PUMP token is not yet tradable or transferable. This is the only official $PUMP contract address.” The warning…
The post Pump.fun has completed its ICO for PUMP token, raising $600 million appeared on BitcoinEthereumNews.com.
Pump.fun, the popular Solana-based memecoin launchpad, has completed its PUMP token’s initial coin offering (ICO). The massive success of the ICO comes amidst criticisms of Pump.fun and early concerns as to how the presale would go. The protocol announced it a few days ago, noting that the ICO would start from July 12 and end by July 15 or until the available tokens sold out. With 150 billion PUMP tokens, which represent 15% of PUMP’s total supply available for sale through the ICO at a price of $0.004, the successful sale means that Pump.fun raised $600 million through the public sale. Pump.fun has also confirmed the conclusion of the sale, noting that it happened within 12 minutes and praising its community for participating. It said: “The $PUMP public sale has now ended. We are delighted to reveal that the $PUMP public sale was able to sell out in only 12 minutes. We would like to thank our entire community for participating!” With the sale ending, the protocol said that the distribution phase will start within 48 – 72 hours. Based on the protocol’s plan, the token will only become tradable after the distribution phase has ended. Interestingly, the ICO did not allow US and UK residents to participate with Know Your Customer (KYC) verification in place to prevent residents of those countries from participating. However, the restrictions did not impact interest in PUMP, with demand outstripping supply. Pump.fun warns users about copycat tokens Meanwhile, the protocol has warned users to be careful with copycat tokens that may have similar names. It noted that the contract address for the official PUMP token is pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn. It said: “Do not trust any other tokens. The $PUMP token is not yet tradable or transferable. This is the only official $PUMP contract address.” The warning…
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