Solana-based memecoin launchpad Pump.fun is set to launch its official token, PUMP, via an initial coin offering (ICO) on Saturday, July 12. The announcement was made on July 9 through Pump.fun’s official X (formerly Twitter) account.
The ICO will make 15% of the total PUMP supply—equivalent to 150 billion tokens out of a 1 trillion maximum—available to the public. An additional 18% of the supply was previously sold to institutional investors in a private sale, under the same terms.
Each PUMP token is priced at $0.004, with no lockups or vesting—meaning all tokens will be fully unlocked at launch.
To participate in the ICO, users must complete KYC (Know Your Customer) verification either on Pump.fun’s official token site or through participating partner exchanges, which include Bybit, Kraken, Bitget, MEXC, KuCoin, and Gate.io.
The public sale for Pump.fun’s official token, PUMP, will kick off at 14:00 UTC on July 12 and run until 14:00 UTC on July 15, or until the full allocation is sold. However, residents of the U.S. and U.K. will be excluded from participating due to regulatory restrictions.
While the token’s full utility is still in development, features under consideration include fee rebates, token buybacks, and incentives for meme creators. In terms of token distribution:
- 24% is allocated to community and ecosystem initiatives
- 20% goes to the core team
- 13% is reserved for existing investors
The ICO comes at a time of mixed momentum for Pump.fun. Since launching in January 2024, the Solana-based memecoin platform has generated over $720 million in fees, according to Dune Analytics. However, revenue has been declining, and the platform’s market share recently dropped below 60%, as new competitors like LetsBonk.fun gain traction. A recent version 2.0 update introduced features like one-click trading and a “movers” feed to help maintain its lead.
The token launch hasn’t been without controversy. Critics have pointed to comments made by co-founder Alon, who previously labeled presales as “scams”—a statement some now see as contradictory in light of the ICO. Tensions escalated when Gate.io briefly listed PUMP for pre-market trading, only to delist it shortly afterward and refund users, citing unresolved negotiations with Pump.fun.
Despite the backlash, excitement remains strong. An airdrop is expected shortly after the token launch, and PUMP tokens will become transferable 48 to 72 hours after the ICO ends.
