Hyperstition #45 — July 9, 2025
Pump.fun confirms July 12 ICO, airdrop "soon"
Pump.fun confirms $1.3B+ token sale, airdrop “soon”
Pump.fun confirms July 12 PUMP ICO; airdrop details pending.
The Solana launchpad is expanding into social media and content creation.
Pump.fun, the dominant launchpad for Solana memecoins, confirmed on Wednesday that it will sell 33% of total supply for its long-awaited PUMP token via an initial coin offering (ICO) on July 12, with a $4 billion fully diluted valuation target.
The announcement ends weeks of speculation following media reports of an imminent raise. Pump is aiming to collect more than $1.3 billion between the institutional and public allocations.
The PUMP ICO is scheduled for Saturday, with tokens locked for 48 to 72 hours post-sale.
Lingering uncertainties
Traders are watching closely for more airdrop details and clarity on how protocol revenues will interact with the PUMP token.
Pump confirmed that an airdrop is “coming soon,” though specifics on eligibility and size remain undisclosed.
The platform has allocated 24% of total supply to “community and ecosystem initiatives,” suggesting a sizable pool for future distribution.
An internal vesting chart obtained by Hyperstition shows that team members and early investors — who collectively hold 33% of supply — will be locked for one year, with a four-year linear vest to follow, alleviating concerns that insiders might dump on the open market once trading begins.
Retail traders in the U.S. and U.K. will be blocked from participating in the ICO due to KYC restrictions and firewall enforcement.
However, a person familiar with the matter told Hyperstition that the PUMP token will become freely tradable on Solana DEXs after the unlock period, enabling global access via permissionless liquidity pools.
While no direct revenue-sharing mechanism was announced, Pump hinted at future token buybacks as a potential source of value accrual.
Hyperliquid, a comparable platform with ~$60 million in monthly revenue, trades at a $40 billion FDV due to its aggressive buyback program. Pump’s past 30-day revenue is roughly $57 million, according to DeFiLlama.
Emerging media platform
The ICO announcement also signals a deeper strategic shift. Pump co-founder Alon said in a Wednesday X thread that the platform will use part of the raise to expand livestreaming and media functions, evolving into a hybrid launchpad–social platform.
Three percent of token supply — or $120 million at PUMP’s ICO valuation — has already been earmarked to incentivize livestream creators.
Pump has also introduced in-app news updates and chat features, positioning itself to internalize the memecoin discourse now spread across X and Telegram.
The platform’s anticipated airdrop and media pivot may help revitalize a memecoin sector that has stalled after trading volumes peaked earlier this year.