The ICO, which ended far quicker than the assigned 72 hours, put the platform’s fully diluted valuation at $4 billion, according to the platform.
Investors from the U.S. and the U.K. were barred from participating in the ICO for regulatory reasons. According to Bloomberg, today’s ICO pushed Pump.fun’s total token sales to $1.32 billion.
The platform describes the PUMP token as a “utility coin that will be used alongside the pump.fun brand behind the Pump.Fun Protocols.”
Holders of the PUMP token can choose to participate in promotional giveaways. Pump.fun, however, clarifies that its protocols will remain permissionless and will not require the use of PUMP tokens.
“$PUMP is going to be getting 25% of Pump revenues, so beyond one of the largest ICOs ever, this will be one of the highest gross revenue tokens in crypto.”
“Pump.fun and those supporting it (even if at arm’s length) are Pied Pipers leading Gen Z to ruin.”
