Pump.fun Co-Founder Denies Reports the Solana (SOL)-Based Memecoin Launchpad Will Issue Its Own Native Token

Crypto reporter Colin Wu earlier said that Pump.fun is working on launching its own token and plans to use the Dutch auction system in the public offerings.

Solana (SOL)-based memecoin launchpad Pump.fun is not planning to launch its own native token, according to its co-founder.

New: Pump.fun Not Launching Native Token Despite Earlier Reports, Co-Founder Says - Decrypt

Earlier this week, crypto reporter Colin Wu said that Pump.fun is working on launching its own token and plans to use the Dutch auction system in the public offerings.

Wu’s team reportedly confirmed the information with insiders from multiple centralized exchanges (CEXs) that Pump.fun is working with to develop the system.

However, Pump.fun co-founder Alon Cohen refuted the claims on the social media platform X, stating that the speculations are not true. He also advised his followers not to believe in anything that did not come directly from Pump.fun.

“Seeing rumors about a potential pump fun token – these are wrong…

Pump.fun is not launching a token, don’t believe anything you hear unless it comes directly from us or our official channels.

While the Pump.fun team has mainly been focused on improving the product in its one-year history, the team has always been committed to rewarding its users properly. Good things take time!”

Wu doubled down on his report, claiming that he has evidence to support the claim.

“It is almost a public fact that Pump.fun plan to issue token using the Dutch auction inside the CEXs…

Wu Blockchain Team obtained the detailed coin issuance preparation documents that Pump.fun provided to the CEXs. We can also publish with permission.

The listing staff of multiple exchanges also confirmed to us that Pump.fun plans to issue a token. But the time is indeed not determined.”

Pump.fun is a decentralized memecoin launchpad on Solana that boasts over 100,000 users. The platform is designed to help users quickly and easily launch their own memecoins with minimal technical knowledge.

The platform’s launchpad is currently closed to new projects due to the high demand from users. As such, the platform is reportedly working on expanding its capacity to accommodate more projects.

Solana is a high-performance blockchain that boasts fast transaction speeds and low costs. The network is designed to support a wide range of decentralized applications (dApps), including DeFi protocols, NFTs, and memecoins.

Solana’s native token, SOL, has experienced a significant rally in recent months, largely due to the growing popularity of NFTs and memecoins on the network. As a result, SOL is now among the top 10 cryptocurrencies by market capitalization.

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