At 2:00 PM on July 12, 2025, the memecoin platform on Solana, Pump.fun, officially launched its ICO for the PUMP token. In just 13 minutes, all 125 billion PUMP tokens (12.5% of the total supply) were sold out at a fixed price of $0.004/token, raising $500 million and making this event the third-largest ICO in crypto history.
ICO Details
- Trading Platforms: The ICO took place simultaneously on Bybit, Kraken, KuCoin, Bitget, Gate, MEXC, and the official Pump.fun website. Participants could use USDT, USDC, SOL, or bbSOL, but KYC was required.
- Expected Duration: From 2:00 PM on July 12 to 2:00 PM on July 15, 2025 (UTC). However, the tokens sold out earlier than expected.
Impressive Statistics:
- 10,145 wallets participated in direct purchases through the Pump.fun website, with an average spend of $44,000 per wallet.
- 202 wallets reached the maximum purchase limit of $1 million.
- Total Raised: Combined with a private sale of $700 million, Pump.fun raised a total of $1.3 billion.
- Valuation: The Fully Diluted Valuation (FDV) reached $4 billion with a total supply of 1 trillion tokens.
Related: XRP Could Surge to $11, $20, or Even $30 If Historical Pattern Repeats
Tokenomics and SocialFi Vision
PUMP is the native token of Pump.fun, serving governance, staking, revenue sharing, and participation in token sales. The project aims to build a SocialFi ecosystem where value is redistributed to the community, challenging Web2 platforms like Facebook, TikTok, and Twitch.
Token Allocation:
- 33% (330 billion) for the ICO, including 12.5% (125 billion) for public sale, 18% for private sale.
- 24% for the community and ecosystem, 20% for the team, 13% for current investors, 2.4% for the ecosystem fund, 2% for the foundation fund, 3% for livestreaming.
- Unlocking: All ICO tokens (including private sale) will be unlocked after 48-72 hours, bringing the circulating supply to 55% of the total supply from the start.
Market Reaction
Despite its resounding success, the PUMP ICO has sparked controversy. Some concerns have been raised about the high valuation and potential negative impacts on the Solana memecoin ecosystem, with tokens like FARTCOIN, WIF, and POPCAT experiencing significant drops after the ICO announcement. Additionally, Pump.fun is facing a $500 million lawsuit in the U.S. and warnings from the FCA (UK).
In the futures market, PUMP is priced between $0.055 and $0.057, a 40% increase over the ICO price, indicating strong expectations from investors. Binance Futures has opened a PUMPUSDT contract with a maximum leverage of 5x, creating trading opportunities before the token officially circulates on July 18, 2025.
