Pump.fun, the Solana-based memecoin launch platform, is set to hold its first and only token sale beginning July 12, targeting a massive $600 million raise. The sale will take place on Bybit and other yet-unnamed exchanges, marking one of the largest public offerings in the current crypto cycle.
Pump.fun Token Sale Details
According to Bybit’s official announcement, the exchange will list 150 billion PUMP tokens at $0.004 per token, representing 15% of the total supply. The sale is scheduled to run from July 12 to July 15 on a first-come, first-served basis.
Buyers can subscribe using:
- Tether (USDT)
- USD Coin (USDC)
- Solana (SOL)
- Bybit’s bbSOL token
At the stated price, the token sale implies a valuation of $4 billion for the Pump.fun platform.
Limited Exchange Participation Creates Buzz
While Bybit is currently the only major exchange confirmed to host the sale, it hinted that “several” others will participate. However, Gate.io, which previously listed the same sale details, abruptly removed the page earlier this week, creating confusion in the community.
Despite market speculation, no other major platforms have officially confirmed support for the token sale.
From $1 Billion Ambitions to $4 Billion Valuation
Launched in January 2024, Pump.fun lets users launch and trade memecoins on Solana without coding. The platform quickly rose to prominence during the early 2024 memecoin frenzy, generating over $700 million in activity within months.
Now, the decision to hold a $600 million token sale — rather than distributing tokens via a community airdrop, as many expected — is raising eyebrows. Analysts warn the move could damage public perception, especially given the project’s already substantial earnings.
Airdrop Still Likely, Despite Criticism
While the optics of a large-scale sale have sparked debate, speculation suggests that an airdrop is still possible in the future. For now, the project’s focus appears to be on securing additional funding through token distribution across centralized platforms.
Key Takeaways
- Pump.fun will launch a $600 million token sale on Bybit, starting July 12.
- 150 billion tokens at $0.004 each, equivalent to 15% of supply.
- Sale supports multi-chain assets including USDT, USDC, SOL, and bbSOL.
- Gate.io delisted the sale page, creating questions around exchange support.
- Community expected an airdrop, raising concerns over “bad optics.”
- At $4B valuation, Pump.fun becomes one of the highest-valued memecoin platforms.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.