Hyperstition #46 — July 10, 2025
Pump.fun to buy wallet-tracker Kolscan in first-ever acquisition.
Pump.fun acquires Kolscan ahead of ICO
The Solana memecoin launchpad made its first acquisition as it prepares for $1.3B raise.
Pump.fun reportedly plans to share 25% of platform fees with PUMP holders.
Pump.fun has agreed to acquire Kolscan, a Solana-based wallet tracking platform, in its first-ever acquisition, the coin launchpad announced Thursday.
The deal comes just days ahead of Pump.fun’s July 12 initial coin offering (ICO), which aims to raise over $1.3 billion at a $4 billion fully diluted valuation (FDV).
The acquisition reflects Pump.fun’s push to expand beyond token launches into trading analytics and social media infrastructure.
Kolscan, a popular wallet explorer for onchain traders, offers real-time data on trader performance, token PnL, and a leaderboard of top-performing wallets.
Its tools are already used daily by tens of thousands of traders, Pump co-founder Alon said in a July 10 X post.
“We believe onchain trading is a social sport,” Alon said on X. “The success of the projects you invest in is often determined by the kinds of people that are involved, when they got in, how much conviction they have.”
Pump.fun plans to make Kolscan’s tools free to use and said it will improve performance metrics and leaderboard reliability.
The team also aims to provide deeper insights into copytrading behavior as part of its broader effort to become “crypto’s social media platform that can scale to the billions,” Alon said.
Pump.fun’s announcement coincided with a surge in trading of Kolscan’s legacy token, which originally launched on Pump.fun in November 2024.
The kolscan (kolscan) token’s market capitalization peaked at less than $2 million in its first month after launching and hovered under $100,000 for months before spiking past $20 million on the acquisition news.
It was trading near $5 million on Thursday evening, according to DexScreener.
Revenue-sharing plans
The Kolscan acquisition adds momentum to Pump.fun’s token launch strategy, which reportedly includes plans to deliver long-term value accrual for PUMP holders.
On Wednesday, Pump.fun confirmed it will sell 33% of total token supply during the ICO and has reserved another 24% for “community and ecosystem initiatives,” including an upcoming airdrop.
Two sources familiar with the company told The Block that Pump.fun will distribute 25% of protocol revenue to PUMP token holders via a buyback-powered rewards model.
Pump.fun has generated over $700 million in revenue since early 2024 and brought in $57 million over the past 30 days, according to DeFiLlama.
Hyperliquid, a comparable derivatives platform with similar revenues, trades at a roughly $40 billion FDV thanks to its buyback-heavy tokenomics.
The ICO is scheduled to begin Saturday, with tokens locked for 48 to 72 hours post-sale.
Retail investors in the U.S. and U.K. will be excluded due to KYC and firewall restrictions, but trading is expected to open globally on Solana DEXs once the lock period ends.
Pump.fun has also earmarked $120 million worth of tokens to incentivize livestream creators as part of its expansion into content and chat.
The platform is positioning itself not only as a launchpad but also as an onchain entertainment and distribution hub—backed by a growing ecosystem of traders, creators, and tokenized media.