?According to Blockworks, citing multiple sources familiar with the matter, Pump.fun is planning a $1 billion token sale in the coming weeks
Memecoin platform Pump.fun is planning to sell its own native tokens to investors in the coming weeks, multiple sources familiar with the matter told Blockworks.
The platform, which allows anyone to instantly launch and promote their own token on the Solana blockchain, aims to reach a unicorn valuation of $4 billion with a $1 billion token sale.
According to Blockworks Research, Pump.fun has generated over $700 million in cumulative revenue and users have created nearly 11 million new tokens through the platform, which together have a combined market cap of about $4.5 billion.
Revenue of Pump.fun. Source: Blockworks Research
According to the report, the platform’s new AMM will also be included in the token sale.
Earlier this year, part of Pump.fun’s core business model was revamped when it launched its own AMM and ended its informal collaboration with Raydium, an AMM on Solana.
Recently, Pump.fun also launched a mobile app and relaunched its livestreaming feature, which was temporarily paused late last year due to moderation complaints.
As Blockworks reported, Pump.fun has sold 120,000 SOL (Solana) for $16 million to a crypto hedge fund to support its operations.
News data source: kdj.com
The above is the detailed content of ?Memecoin Platform Pump.fun Plans $1B Token Sale. For more information, please follow other related articles on the PHP Chinese website!
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