12 minutes.
That is how long the pump.fun token has been offering to raise nearly $ 500 million from retail investors in a variety of exchanges, including Bybit, Kraken, and Kucoin.
The sale priced 125 billion tokens at $ 0.004 each, indicating a $ 4 billion fully melted appreciation for the new Solana-based utility.
So far, holders must wait to get their hands on the token they bought.
Pump.Fun said the purchased tokens will reach the wallets in the next 48-72 hours and remain locked until the end of the distribution, blocking trading or shifts.
The team shared The official address of the Solana-PumpcMXQMFRAKQ5R49WCJNRAYYRQMXZ6AE8H7H9DFN-and warned users to dispel assets.
Read more: Pump lingers at 40% premium on ICO price on Hyperliquid leading to pump.fun token sale
In total, the Pump.Fun ICO is set to sell 33% of 1 trillion pump supply token, with 18% allocated earlier through a private sale. Public allocation was recently lowered from 15% to 12.5%, which was sold in just 12 minutes.
Its the rest of it Allocations Include 20% for the team behind the project, 24% for community and ecosy incentives, 13% for existing investors, 2.6% for liquidity, 2.4% for an ecosystem fund, with the rest for a foundation fund and live streaming incentive.
Pump.Fun allows anyone to mint and list a coin with a new token in a few clicks. When a freshly minted token reaches a specific threshold, it is listed in the decentralized exchange.
The sale arrives as the token launchpad metrics show a deepening decline in activity. Defillama data shows that in January Pump.Fun’s launchpad volume was more than $ 11.6 billion, and since continued to decline to $ 3.65 billion last month.
Similarly, the income generated by launchpad dropped from $ 133 million in the first month of the year to nearly $ 34 million last month, according to Delete Data.
While the volumes of the launchpad collapsed, the decentralized exchange of pump.fun Pumpswaplaunched in March, made up for refusal, seeing a $ 14.3 billion volume in May and $ 10 billion last month. The income for pumpswap stands $ 7 and $ 5 million for those months, every same Data resource.
Update (July 12, 15:54 UTC): Adds more context to the whole.
