Pump.fun, a memecoin creation platform, has made its first acquisition by purchasing wallet-tracking platform Kolscan. This move aims to enhance services and tools for traders as part of its preparation for an initial coin offering (ICO).
Acquisition of Kolscan
Pump.fun announced the acquisition of Kolscan, a platform that monitors the activities of leading on-chain traders. Kolscan provides users with real-time transaction data, income tracking, and a leaderboard ranking. According to Pump.fun, the integration will create new services for users of both platforms.
Gamification as a Growth Strategy
Pump.fun co-founder Alon Cohen noted that the Kolscan acquisition aligns with his view that "on-chain trading is a social sport." He emphasized that new products providing social data and gamified trading experiences would engage more users. In a message on X, he stated, "We believe that products that offer social insights/tools and gamify the trading experience are key to growing our ecosystem."
Pump.fun's ICO Plans
Pump.fun is launching an ICO for its "PUMP" token, aiming to raise $1 billion. The ICO will cover a total supply of 1 trillion tokens, with 330 billion tokens, or 33%, allocated to investors at $0.004 per token. Due to regulatory concerns, Pump.fun announced that it would not offer its token to investors in the US and UK.
The acquisition of Kolscan and the upcoming ICO highlight Pump.fun's strategic focus on innovation and platform development, which could have a significant impact on the memecoin market.
