Crypto security experts have determined that the $500 million worth of tokens sold during the recent Pump.fun initial coin offering (ICO) are not subject to a lock-up period as previously suggested.
The analysis indicates this characteristic stems directly from the specific structure of the Pump.fun smart contract deployed on both the Solana and Ethereum blockchains. Security firm Hacken clarified the token mechanics, distinguishing the authentic Pump.fun ICO token from any test or counterfeit tokens, confirming the legitimacy and intended design of the main token.
The landmark ICO event raised $500 million in just 12 minutes. The tokenomics allocated 33% of the total 1 trillion PUMP tokens for the presale, with further allocations designated for institutional investors (18%), retail contributors (15%), and ecosystem development/future incentives (24%).
Transparency regarding token distribution was reportedly verified through independent checks using Solana blockchain explorers, which showed 85% of all PUMP tokens had been distributed according to the project’s plan.
The successful fundraising outcome and subsequent clarification of the token’s accessibility mechanics have positively influenced sentiment within the memecoin sector. Observers note increased traction for projects like LetsBonk alongside the confirmation of Pump.fun’s token parameters.