Pump was sold at a price of $ 0.004 per unit.
Tokens were not yet distributed in the market.
Pump.Fun, the memecoins creation platform on the Solana Red, launched an initial offer of coins (ICO) of its native token, Pump, which was exhausted in just 12 minutes.
The development team put on sale the 12.5% of the total supply of 1 billion Pump, that is, 125,000 million unitsat a price of $ 0.004 per Token.
The ICO was going to extend until July 15, but it was exhausted in a matter of minutes, raising a total of 500 million dollars.
The sale was made through the exchanges Kucoin, Kraken, Bybit, Gate, Bitget and Mexc.
As cryptootics has reported, tokens acquired in the ICO They will be completely unlocked from the first day in which their commercialization is enabled. However, at the beginning they cannot be transferred, says Pump. As reported, this will happen between the next 48 and 72 hours later to the statement.
Likewise, it was reported that the distribution of the token of the platform that lives in Solana will be as follows: 33% for ICO, 24% for community and ecosystem initiatives, 20% for the equipment, 13% for existing investors, 2.4% for the bottom of the ecosystem, 2% for the foundation, 3% for live transmission and 2.6% for liquidity and exchanges.
Here it is worth noting that of the total assigned to ICO, 18% were allocated to a private sale (already completely awarded) and 15% for public sale. However, only 12.5% of the total supply was offered during this first phase.
It is important to remember What are the risks associated with this type of release. This is because ICOs usually favor Insiders (People with privileged information), which can generate an unequal distribution from the beginning, in addition to a mass sale during the minutes and hours of the commercialization of the token.
Despite the enthusiasm for Pump’s debut in the market, it is important that investors evaluate the risks before making any financial movement.
