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Pump.Fun ICO was a huge success, raising $500 million on-chain with a fully diluted value of $4 billion (FDV). Another $100 million was raised through CEXS.
Over 10,000 addresses participated in the Saturday sale at Solana. In total, 12.5% of the total supply was sold in 12 minutes, with 125 billion pumps each for $0.004.
Within two days, the pump was 70% higher than its initial mark, then returned 14% ahead with a $4.6 billion FDV.
Such rapid sales have made the available person a major concern for everyone. And, after all, it was much easier to scoop tokens on decentralized exchanges than on standard trading platforms.
BlockWorks Research analyst Boccaccio spoke to the 0xResearch podcast.
“I have a very medium Lukewarm take, which is the first time I can think of (for sales like this).
“Historically, if someone gives you an option – do this with central exchange and decentralized rails (token sales) – you always do it with central exchanges.
“This is the only example where you can think of where you were violated if you tried to do it in a central exchange. And if you did it in a decentralized (exchange) – like Solana itself – you could actually get in.
Ryan Connor, head of research at Blockworks Research, sees it as a road fork for token sales to advance.
