Latest Lightspeed podcast - Breaking Down the PUMP Launch, Friday 18th Jul @Lightspeedpodhq $PUMP ICO Breakdown: 0xResearch Podcast Deep Dive 🧵 Key Highlights [00:31-02:05]: - First decentralized token sale where Solana outperformed centralized exchanges - Average ICO check size: ~$500 - Over 20,000 unique KYC participants Token Economics [06:35-07:16]: - Initial valuation: $4B - Pre-market trading: $6B FDV - Hyper Liquid facilitating significant price discovery Unique Sale Dynamics [01:03-03:09]: - Centralized exchanges (Bybit) struggled processing orders - On-chain Solana sale worked seamlessly - Median order size around $400 Revenue Sharing Model [14:20-15:41]: - 25% of revenue potentially shared with token holders - Controversial discussion on appropriate revenue distribution - Compared to traditional equity structures Market Predictions [63:13-67:15]: - Panelists predict varied FDV: * Some expecting above $10B * Others anticipating stabilization - High volatility expected during initial trading Notable Quote: 'This is probably a fork in the road for decentralized vs centralized exchanges' [08:42]