Gate Leaks $PUMP Token Sale Details - ICO Scheduled for July 12

Pump.fun’s eagerly anticipated TGE seems to be right around the corner, potentially creating the biggest liquidity event since January’s $TRUMP launch. 

Despite the official details surrounding the pump.fun token sale being kept under wraps, crypto exchange Gate has let the cat out of the bag.

What did Gate’s leak reveal about the $PUMP token sale, and has LetsBonk’s recent success expedited pump.fun’s TGE?

$PUMP Token Sale Page Appears on Gate

On July 7, Gate.io published a $PUMP token sale page on its website. Featuring a countdown set to end on July 12, Gate’s page outlined new details surrounding $PUMP’s tokenomics.

First announced on June 4, the pump.fun ICO sale was originally slated to offer $1B worth of tokens. The revamped sale terms dictate that the viral launchpad will sell 150B tokens at a set price of $0.004, collecting $600M.

At first glance, this might suggest that pump.fun has been forced to re-evaluate the scope of the sale in the face of fierce competition from rival launchpads. However, one could argue that $1B was split between private and public investors, meaning that 40% of the sale supply has already been allocated to private buyers.

Perhaps inspired by the palpable excitement, Gate’s publication of the ICO page looks to have been premature. Neither pump.fun, nor any other centralized exchanges, have confirmed July 12’s sale, suggesting that Gate may have jumped the gun. Gate has since removed the ICO page from its website.

Rumored Tokenomics Hint at Buybacks

While nothing has been confirmed regarding $PUMP token utility, network participants are adamant that pump.fun will implement some kind of value accrual model to support the platform’s native asset.

Although publicly unconfirmed, rumors suggest that 25% of pump.fun’s revenue will be allocated to token buybacks. Pump.fun advocates have also hinted that the platform could have set aside tokens for further airdrops beyond its initial TGE.

Pump.fun Loses Ground to LetsBonk

Pump.fun’s TGE comes as the no-code token deployer faces mounting pressure from competing launchpads. For the second consecutive day, pump.fun has trailed rival launchpad LetsBonk in both trading volume and revenue, suggesting the first-mover is losing its grip on Solana’s memecoin trenches.

Part of LetsBonk surging popularity stems from the belief that the platform takes a more altruistic approach to revenue distribution, allocating funds to buying $BONK and bolstering the $bonkSOL validator.

6th Man Ventures partner Mike Dudas argues that, should pump.fun introduce buybacks of its own, there is little separating the two platforms in terms of revenue management. However, this doesn’t take into account the $700M worth of $SOL that pump.fun has already generated in revenue and reportedly sold.

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