tl;dr
Solana-based token launchpad Pump.fun is rumored to launch its native token, PUMP, with a public sale initially listed on crypto exchange Gate for July 12, though the listing was later removed. The sale planned 150 billion PUMP tokens (15% of a 1 trillion total supply) at $0.004 each, valuing the to...
There are rumors swirling around Solana-based token launchpad Pump.fun potentially dropping its own native token, dubbed PUMP. A major crypto exchange, Gate, reportedly listed a public sale slated to begin on July 12, although this page has since been removed after catching significant social media attention.
The now-deleted Gate page revealed plans for a public sale of 150 billion PUMP tokens, which constitute 15% of the total 1 trillion token supply. Priced at $0.004 each, this public offering implies a fully diluted valuation of $4 billion, with the 150 billion tokens amounting to approximately $600 million. The sale was advertised as first-come, first-served with a 72-hour window and no upper limit on individual token purchases, only a minimum threshold.
Interestingly, Pump.fun’s co-founder Alon Cohen had previously downplayed expectations of a native token release for the platform, employees, or himself. Despite this, the platform remains one of the crypto space’s most influential launchpads, responsible for greenlighting several popular meme coins such as Fartcoin (FARTCOIN) and Peanut the Squirrel (PNUT), along with other tokens like Moo Deng and Chill Guy.
The anticipation of a PUMP token airdrop has energized the community, as early adopters hope for rewards tied to the launchpad’s ongoing success. Meanwhile, Pump.fun faces new rivalry from BONK’s LetsBonk launchpad, which recently overtook Pump.fun in new tokens created, signaling shifting dynamics in the meme coin ecosystem on Solana.