’s $PUMP token launch raised $500M in under 12 minutes. One of the largest and fastest token sales in recent history. Here’s a breakdown of what happened, how tokens were distributed, and how markets reacted:

@pumpdotfun 2/ The public sale was originally planned to span multiple days. Instead, it concluded in just over 10 minutes, raising ~$500M across , Bybit, Kraken, and KuCoin. 340 wallets acquired 60% of the allocation, each hitting the $1M cap.

3/ Token distribution: – 1T total supply – 33% sold to public/private investors  • 15% public sale  • 18% private/institutional – 67% reserved for internal use and ecosystem development All sale tokens were fully unlocked at launch.

4/ Insider and ecosystem allocations: – 20% team (1-year cliff, multi-year vest) – 13% investors – 24% community/ecosystem initiatives – Remaining split between liquidity, streaming, and reserves Vesting varies, with gradual release schedules across categories.

5/ No official airdrop has been confirmed. Despite months of speculation, the launch included no dedicated airdrop. While 24% is reserved for community initiatives, no eligibility criteria or timeline has been published.

6/ Trading dynamics post-launch: – The top 500 wallets by profit earned $173M – Top 500 losing wallets lost ~$4.8M – Early entries had significantly higher trade volumes and PnL – Many wallets have since exited their positions Market remains retail-heavy at higher entry prices.

7/ Perpetuals market sentiment (as of July 18): – Shorts: $60M unrealized profit – Longs: $51M unrealized loss – Funding rate: +0.88% (longs paying shorts) Despite losses, open interest from longs remains high, indicating lingering optimism.

8/ Key takeaway: ’s $PUMP launch reflects a shift toward rapid, institutionally-driven token sales with limited public allocation. It highlights growing tensions between capital efficiency and community inclusion. Full report includes detailed PnL data, tokenomics, vesting breakdowns, and onchain trading insights: