Solana Red’s MemeCoins creation platform, Pump.Fun, has launched its first offer for its native token, Pump Coin (ICO).
Development team is on sale 12.5% of the total supply of 1 billion pumps, or 125,000 million unitsat a price of $0.004 per token.
The ICO was extended until July 15th, but it was exhausted in a few minutes, raising a total of $500 million.
Sales were made through the exchange of Kucoin, Kraken, Bybit, Gate, Bitget and Mexc.
As Cryptootics reports, Tokens got it with ICO They will be completely unlocked from the first day when commercialization is enabled. But at first you can’t transfer them, Pump says. As reported, this occurs after the next 48 to 72 hours of the statement.
Similarly, the distribution of tokens for platforms living in Solana was reported as follows: 33% for ICO, 24% for community and ecosystem initiatives, 20% for equipment, 13% for existing investors, 2.4% for basics, and 2.6% for live transmission and liquidity and exchange.
It is noteworthy here that of the total allocated to ICOs, 18% were assigned to private sales (already fully awarded) and 15% were assigned to public sales. However, in this first phase, only 12.5% of the total supply was provided.
It’s important to remember What are the risks associated with this type of release?. This is because ICOs usually prefer it insider (people with privileged information), along with massive sales over the minutes and hours of commercialization of tokens, can generate unequal distributions from the start.
Despite Pump’s enthusiasm for its market debut, it is important for investors to assess risks before they can make a financial campaign.