PANews June 7 news, according to The Block, two insiders revealed that Pump.fun plans to raise $1 billion through an Initial Coin Offering (ICO) and is currently considering establishing a revenue-sharing mechanism for its native token. It is not yet clear how much revenue will be allocated or whether it will include revenue from its decentralized trading platform PumpSwap. Pump.fun's daily revenue peaked at over $7 million on January 23 but has since declined to about $1 million per day. Since its launch at the beginning of 2024, the platform has generated approximately $677 million in total revenue, making it one of the most profitable startups in the cryptocurrency space.
In addition, according to two people familiar with the plan, the PUMP token will be offered to both public and private investors and is expected to be fully unlocked on the token issuance date. There may be more token issuances in the future, but the total supply cap is expected to be 1 trillion tokens. According to one insider, the team is currently pitching to private investors at a price of $0.004 per token and plans to conduct a public sale in two weeks. Some of the sale will occur on exchanges including Binance, and an airdrop is also expected. One insider estimated that about 25% of the token supply will be used for the public sale, with another 10% allocated for the airdrop.
