Pump.enjoyable plans to lift $1 billion by means of a token sale that might assign the Solana-based memecoin launchpad a $4 billion absolutely diluted token valuation, Blockworks reported on June 3, citing two individuals conversant in the matter.
Sources mentioned the providing will goal each private and non-private patrons. Nonetheless, they didn’t specify whether or not the brand new token will launch on Pump.enjoyable’s personal platform or give particulars on the sale’s construction.
Pump.enjoyable didn’t make an announcement on the providing as of press time.
Income observe document and product enlargement
Pump.enjoyable permits any person to create a token on Solana (SOL) immediately and at no preliminary price. In line with a Dune dashboard created by person adam_tehc, customers have launched almost 11 million tokens on the platform.
When a token “graduates” from its bonding curve on Pump.enjoyable and goes to PumpSwap for buying and selling, a 0.015 SOL price is charged. Moreover, trades on PumpSwap have a 0.3% price, a decentralized change associated to the launchpad.
The platform has generated over over $732 million in charges since its launch in January 2024. Moreover, it has continued to develop its function set regardless of intensifying competitors within the token-launching sector.
First, it launched PumpSwap on March 22 to seize a number of the buying and selling exercise that exited the launchpad and entered Raydium, one other decentralized change on Solana. In lower than two months, the platform surpassed $100 million in whole worth locked.
On Could 12, Pump.enjoyable launched a program to reward token creators. Customers get 0.05% of the buying and selling quantity on Pump.enjoyable and PumpSwap paid in SOL.
DefiLlama knowledge attributes almost $18 billion in quantity from each platforms in Could. If this system have been efficient all through the whole lot of final month, creators would have earned $9 million in whole rewards.