Solana-based memecoin launchpad Pump.fun has confirmed that its native PUMP token will debut through an Initial Coin Offering (ICO) on July 12.
The token will have a total supply of 1 trillion and a structured allocation designed to serve institutional, community, and internal stakeholders.
PUMP’s ICO details
About 33% of the total PUMP token supply will be sold during the ICO. Of this, 18% is designated for institutional buyers through a private sale. The remaining 15% will be available to the public via major exchanges like Kraken, Bybit, KuCoin, Gate.io, Bitget, and MEXC.
The platform stated that private and public sale participants will purchase the asset at $0.004 per token. Notably, all tokens purchased in the ICO will be fully unlocked once they become tradable, with no vesting period.
In addition to the ICO allocation, the remaining supply will be distributed as follows: 24% will be reserved for community and ecosystem initiatives, 20% for the team, and 13% for existing investors.
Meanwhile, the Pump.fun foundation will receive 2%, the ecosystem fund will receive 2.4%, and exchange liquidity will be allocated 2.6%. Interestingly, 3% of the total token supply is set aside specifically for live streaming.
The public sale will run until the 150 billion tokens are sold or until 14:00 UTC on July 15, whichever comes first. Token sale participants will receive their tokens shortly after the sale ends. However, tokens will be non-transferable for 48 to 72 hours before they can be traded.
The platform stated that US and UK residents are excluded from participating in the ICO.
Despite the structured rollout, Pump.fun’s token distribution plan has drawn criticism from some in the crypto community.
Crypto researcher Rex described the tokenomics as exploitative. He argued that the team is allocating over 40% of the supply to itself while monetizing a community that has helped generate more than $750 million in revenue over the past year.
He added:
“Community reward which should be the purpose of $PUMP is said to be ‘coming soon’ which is just another term for ‘we do not really have a plan to airdrop.’”
Pump.fun’s broader goal
Looking ahead, Pump.fun outlined plans to evolve beyond its current launchpad model into a decentralized social platform.
According to the firm, it aims to become an alternative to existing social platforms like Facebook, TikTok, and Twitch by rewarding users instead of monetizing their attention.
Alon Cohen, co-founder of Pump.fun, emphasized the platform’s commitment to leveraging social trends in on-chain trading. He explained that the platform aims to revolutionize livestreaming by rewarding viewers for discovering talent early and allowing creators to monetize more effectively.
Cohen further stated that Pump.fun intends to foster thriving communities, movements, and even cults. He said this would create a new space for crypto-native engagement within the social media landscape.
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