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Solan-The memecoin Launchpad Pump.fun has confirmed that his native pump token will make his debut through the initial offer of coins (ICO) 12 July.
The token will have a total offer of 1 trillion and a structured allocation designed to serve institutional, community and internal parties.
ICO pump details
During the ICO, about 33% of the total amount of pump tokens will be sold. Of this, 18% is intended for institutional buyer through private sales. The remaining 15% will be available to the public through the main exchanges such as Kraken, Byit, Kucoin, Gate.io, Bitget and Mexc.
The platform stated that participants in private and public sales will purchase an asset for $ 0.004 per token. In particular, all tokens purchased in ICO will be fully unlocked as soon as they become tradable, without summons.
In addition to ICO allocation, the remaining offer will be distributed as follows: 24% will be reserved for community and ecosystem initiatives, 20% for team and 13% for existing investors.
Meanwhile, the Pump Foundation receives 2%, the Ecosystem Fund will receive 2.4%and the liquidity of the replacement will be assigned 2.6%. Interestingly, 3% of the total supply of tokens is set special for live broadcasts.
Public sales will run up to 150 billion tokens or 14:00 UTC 15 July, depending on what comes first. The tokens sales participants will receive their tokens shortly after the sale. However, the tokens will be non -transferable for 48 to 72 hours before they can be traded.
The platform said the US and the UK people were excluded from participating in ICO.
Despite the structured introduction, the plan of the distribution of pump tokens caused criticism of some of the crypt community.
Crypto researcher Rex described Tokenomics as an exploitative. He claimed that the team would allocate more than 40% of the offer, while monetizing a community that has helped generate more than $ 750 million last year.
He added:
“Community reward, which should be the purpose of a $ pump, is said” coming soon “, which is just another term for” we don’t really plan a airdrop. “
Wider target pump.fun
Looking forward, pump.fun outlined plans for develop beyond your current Launchpad model to a decentralized social platform.
According to the company, its aim is to become an alternative to existing social platforms such as Facebook, Tiktok and Twitch, by rewarding users instead of monetizing their attention.
Alon Cohen, co -founder of pump.fun, emphasized Platform commitment to use social trends in chain trading. He explained that this platform aims to revolutionize lively by rewarding viewers for discovering talents in time and allowing creators to monetize more effectively.
Cohen further said that pump.Fun intends to support prosperous communities, movements and even cults. He said it would create a new space for cryptoral engagement in the social media environment.
