Solana Meme Platform Pump.fun Sets Sights on $1.32 Billion Token Sale

• Pump.fun plans a $1.32 billion token sale on July 12 to fund social media platforms competing with major tech companies.

• The PUMP token sale excludes US, UK, and EU residents but offers immediate trading opportunities for eligible investors.

• The platform will sell 330 billion tokens at $0.004 each across multiple exchanges, including Bybit and Kraken.

The popular Solana-based meme coin platform Pump.fun has revealed plans for a massive token offering scheduled for July 12. The company seeks to raise $1.32 billion through its PUMP token sale, aiming to disrupt the social media landscape dominated by Meta, TikTok, and Twitch.

According to the platform’s announcement, the fundraising will involve selling 330 billion PUMP tokens at $0.004 per unit. This represents one-third of the total token supply, which caps at 1 trillion tokens. The initiative marks a significant pivot for the meme coin launchpad as it expands beyond its current operations.

The platform has declared its intention to “kill Facebook, TikTok, and Twitch” by building an alternative social media infrastructure on the Solana blockchain. Leadership emphasized creating a platform that provides value to users rather than extracting it, contrasting with traditional social media models.

ICO Structure and Accessibility

The token distribution follows a two-tier approach. Private investors have already secured 18% of the available tokens through pre-sales that have reached capacity. Public investors will have access to the remaining 15% through participating cryptocurrency exchanges.

Major exchanges supporting public sales include Bybit, Kraken, Bitget, MEXC, Kucoin, and Gate. The sale window closes when all 150 billion public tokens sell out or at 14:00 UTC on July 15.

Geographic restrictions significantly limit participation. Citizens and residents of the United States, the United Kingdom, and the European Union cannot join the token sale. These limitations reflect regulatory considerations across different jurisdictions.

Investors benefit from immediate liquidity without lock-up periods. Trading will commence 48 to 72 hours after the sale concludes, allowing quick market entry for participants.

Development Roadmap and Token Utility

The raised capital will fund multiple development initiatives. Platform co-founder Alon outlined priorities including enhanced coin quality, improved sustainability measures, and greater project diversity. The company plans a significant investment in social media features, particularly livestreaming functionality.

PUMP tokens will power the ecosystem through various mechanisms. Proposed utilities include transaction fee discounts, periodic token buybacks, and community incentive programs. These features aim to create ongoing value for token holders beyond initial trading opportunities.

The platform targets a broad user base encompassing traders, content creators, and entrepreneurs. This strategy reflects plans to build a comprehensive ecosystem supporting various digital commerce and social interaction forms.

Current success as a meme coin launchpad provides the foundation for these expansion plans. The platform’s established user base and proven track record in the Solana ecosystem position it for the challenging transition to full-scale social media competition.