Pump.fun, a platform in pursuit of raising a staggering $1 billion via an initial coin offering (ICO), is reportedly in the stages of deliberating a revenue sharing plan with potential PUMP token investors, according to insiders acquainted with the proceedings.
Details on what portion of the revenue from this Solana-based memecoin platform will be channelled towards the upcoming PUMP token via the “buyback-powered utility structure” remain hazy. It’s also unclear whether this will encompass revenues derived from PumpSwap, the decentralized exchange that was inaugurated earlier this year. Multiple attempts to reach out to Pump.fun for a comment were met with silence.
As per data from The Block, Pump.fun saw its daily revenue crest at over $7 million on Jan. 23, before settling down to around $1 million daily. The platform has raked in an impressive total revenue of approximately $677 million since its inception in early 2024, positioning it as one of the most successful startups in the crypto sphere.
A source close to the founding team, who wished to stay anonymous, shared with The Block, “The plan is still fluid, but the aim is to have a buyback linked to a part of Pump revenue generated. The idea is for tokens to be unlocked at the TGE for those who partake in the sale, be it private or public.”
Pump.fun initially hinted at a token launch in October of the previous year, when one of the co-founders, who was then unidentified, stated during an X Spaces event that they were “intending to launch a token in the future” to “reward our pioneering users.” Earlier this week, Blockworks reported that the startup is gearing up for an ICO valued at $4 billion. The company has yet to confirm or refute this report, which has sparked widespread discussion in the crypto world.
The PUMP token, set to be offered to both public and private investors, is predicted to be fully unlocked at the token generation event, as per two sources acquainted with the plan. Future token issuances are a possibility, although the total supply is projected to be capped at 1 trillion tokens.
At present, the team is pitching to private investors at $0.004 per token, with plans for a public sale in the pipeline within a fortnight, said one source. A portion of the sale is said to be conducted on exchanges including Binance, and an airdrop is anticipated. Roughly 25% of the token supply will be allocated for the public sale, with an additional 10% earmarked for the airdrop, one source speculated.
“All the revenue we’ve accrued so far is being poured back into the platform,” the founder revealed in October. “We aspire to establish something as monumental as Binance — even surpassing it. Our goal is to democratize this.”
Pump.fun is often lauded for breathing life back into the Solana ecosystem, which was pummelled by the downfall of significant SOL supporter Sam Bankman-Fried. The potential ICO appears to have invigorated recent user activity on Pump, which had been experiencing a notable decline since the year’s commencement. According to data from The Block, the percentage of “graduated” tokens — those that witness enough market activity to transition onto an affiliated decentralized exchange — has shot up to over 4% from a recent low beneath 1%.
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