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Pump.fun Acquires Kolscan Tracking Tool Ahead of $600M ICO

2 days ago
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Pump.fun is making a strategic move ahead of its public token sale, acquiring Kolscan, a robust wallet tracking tool. With a massive $600 million token sale on the horizon, the key question arises—how will this acquisition shape Pump.fun’s ecosystem and drive its growth?

Pump.fun Secures Kolscan: Details

Earlier today, Pump.fun, the Solana-based memecoin launchpad, declared the strategic acquisition of Kolscan, a wallet tracker. In an X post, the platform asserted that this move, marked as the first of its kind, would “change the entire on-chain trading landscape.”

Notably, this development comes just a day ahead of the much-anticipated public coin offering (ICO), scheduled for July 12. Pump.fun posted on July 9 that the platform is gearing up for a public coin sale, with the plan to “Kill Facebook, TikTok, and Twitch.”

Significantly, the integration enhances transparency, copy-trading, and wallet tracking, solidifying its memecoin launchpad’s position. By combining Kolscan’s analytics with its social trading tools, Pump.fun aims to create more robust products for users. Co-founder Alon Cohen stated,

We believe that products that provide social insights/tools and gamify the trading experience are key to growing our ecosystem…More importantly, the success of the projects you invest in are often determined by the kinds of people that are involved, when they got in, how much conviction they have, etc.

As part of the deal, Cohen announced that Kolscan’s services will now be offered free of charge. Notably, the platform had already attracted tens of thousands of users before the acquisition was even announced. Cohen added, “We look forward to integrating Kolscan’s products, making them a core part of our push to building crypto’s social media platform that can scale to the billions.”

Countdown Begins: Pump.fun ICO Set for July 12

As recently reported by CoinGape, Pump.fun is preparing for a massive $600 million ICO on July 12. The ICO aims to raise $1.32 billion by selling 330 billion PUMP tokens, representing 33% of the total 1 trillion token supply, at $0.004 per token. This confirms CoinGape’s previous report that the platform plans to raise around $1 billion through its token sale.

Adding more intrigue to the matter, exchanges like Gate.io and Bitget had leaked posts on the potential pump.fun token sale. On July 9, CoinGape reported that Bybit unexpectedly announced and then promptly removed details of a planned $600 million token sale for Pump.fun.

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Nynu V Jamal

Nynu V Jamal is a Senior Journalist at CoinGape. She boasts more than 3 years of experience in content writing, with expertise in crypto and blockchain. She has contributed to platforms like CoinEdition and CryptoTale, demonstrating her proficiency in navigating the dynamic crypto landscape.

Beyond her journalistic pursuits, Nynu is a literary enthusiast, having served as an Assistant Professor of English Language and Literature. She is a Master’s degree holder in English Literature and a UGC NET qualifier. Her academic background has enabled her to publish research papers on literature, while also nurturing her creative side as a published poet.

Her creative side extends to music, crafts, and art, which she actively explores. Her unique blend of analytical and creative skills allows her to craft engaging stories that captivate audiences. Stay updated with Nynu on LinkedIn

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Source: https://coingape.com/pump-fun-acquires-kolscan-tracking-tool-ahead-of-600m-ico/