Pump.fun, a memecoin creation platform, has announced the acquisition of Kolscan to expand its ecosystem ahead of its upcoming ICO.
Pump.fun's New Strategy
Pump.fun has completed its first acquisition by purchasing the wallet-tracking platform Kolscan. This move is aimed at strengthening the company’s ecosystem and attracting users ahead of its ICO, set for Saturday. At the same time, Pump.fun is facing increasing competition from other memecoin platforms like LetsBonk.
Kolscan Features for Traders
Kolscan provides users with the ability to monitor the activities of top traders, receive real-time transaction data, and track profits. Pump.fun co-founder Alon Cohen emphasized that this acquisition aligns with his belief that "onchain trading is a social sport," where traders can compete against each other.
Pump.fun ICO Details
The ICO for the "PUMP" token is scheduled for Saturday, aiming to raise $1 billion. The ICO parameters suggest that out of a total supply of 1 trillion tokens, 330 billion will be sold at a price of $0.004 each. However, participation from investors in the US and UK will be banned due to regulatory concerns.
With the acquisition of Kolscan, Pump.fun aims to attract more traders and enhance its analytical capabilities ahead of the $1 billion ICO launch.
