Pumpfun’s founding partner Alon rejected the rumors about the Pumpfun Token in a certain language. Alon warned users only to trust official announcements and said the team is currently focusing on developing the platform instead of removing token. However, “correct rewarding users has led to speculation that the commitment, token or a different incentive system may still be planned.
Contradictory reports on pumpfun token
Although Alon rejected speculation, some crypto news sources claimed that Pumpfun was preparing to remove his tokens. Crypto Beast claimed that Pumpfun could launch a token named “Pump, and that the announcement would be made soon.
Colin Wu of Wu Blockchain reported that Pumpfun will launch the Token with the Dutch Auction. In this model, the starting price is high and the price decreases over time depending on the demand. In addition, according to the report based on internal resources, the token has already begun negotiations to list the central stock exchanges.
Token economy and legal difficulties
A document revealed by Wu Blockchain reveals the token economy planned by Pumpfun. It is stated that the total supply will be 420 million token and that 210 million will be allocated for the sale of the public. In addition, the document includes certain allocations for team and early investors. Early investors will be allocated 22.05 %and 25 %to the team. These shares will be subject to a three -year lock opening calendar after one year’s waiting time. However, legal problems can complicate these plans.
Pumpfun has collected approximately $ 572 million transaction fee and reported that it transferred to Kraken $ 386.8 million. However, the fact that Burwick Law and Wolf Popper LLP, the US law firms in the United States, against Pumpfun, are uncertain about whether the token can be put on the market as planned.
Legal problems and mobility in the market
Burwick Law and Wolf Popper LLP accused Pumpfun of imitating their companies using the platform Dogshıt2 token by sending an official warning letter to Pumpfun. This was considered as a move aimed at misleading investors and announced that legal firms will apply to legal remedies.
Despite all these developments, rumors about the Pumpfun token led to a major increase in trade volume on UNISWAP. While the transaction volume increased by 300 %, the relevant token prices increased by 15 %in only one hour. It is clear that investors maintained their interest in Pumpfun despite the ongoing legal problems. As a result, uncertainties on the pumpfun tokene continue. Until an official statement arrives, investors should be cautious against speculation and carefully monitor developments.
