12 minutes.
That’s how long it took for Pump.fun’s token offering to raise roughly $500 million from retail investors across various exchanges, including Bybit, Kraken, and KuCoin.
The sale priced 125 billion tokens at $0.004 apiece, implying a $4 billion fully diluted valuation for the Solana-based memecoin launcher’s new utility token.
For now, holders must wait to get their hands on the token they bought.
Pump.fun said the purchased tokens will land in wallets over the next 48–72 hours and will stay locked until distribution ends, blocking trades or transfers.
The team shared the official Solana contract address— pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn— and warned users to shun look-alike assets.
Read more: PUMP Lingers at 40% Premium Over ICO Price on Hyperliquid Ahead of Pump.fun Token Sale
In total, Pump.fun’s ICO was set to sell 33% of PUMP’s 1 trillion token supply, with 18% having already been allocated earlier via a private sale. The public allocation was recently lowered from 15% to 12.5%, which sold out in just 12 minutes.
Its other allocations include 20% for the team behind the project, 24% for community and ecosystem incentives, 13% for existing investors, 2.6% for liquidity, 2.4% for an ecosystem fund, with the remaining for a foundation fund and live streaming incentives.
Pump.fun allows anyone to mint and list a coin with a new token in a few clicks. When a freshly minted token reaches a specific threshold, it gets listed on decentralized exchanges.
The sale comes as the token launchpad’s metrics show a deepening decline in activity. DeFiLlama data shows that in January Pump.fun’s launchpad volume was above $11.6 billion, and has since been steadily declining to $3.65 billion last month.
Similarly, revenue generated via the launchpad dropped from $133 million in the first month of the year to nearly $34 million last month, according to DeFiLlama data.
While launchpad volumes plunged, Pump.fun’s decentralized exchange PumpSwap, which was launched in March, has been making up for the decline, seeing $14.3 billion of volume in May and $10 billion last month. Revenue for PumpSwap stood at $7 and $5 million for those months, per the same data source.
UPDATE (July 12, 15:54 UTC): Adds more context throughout.