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Enterprise Note: Thoughts on PUMP's ICO
Key Insights:
- PUMP’s planned tokenomics include an increased allocation to ICO investors, a 20% allocation to the team, and a lack of commentary around the airdrop and token value accrual mechanisms.
- Initial sentiment seems to skew negative, with retail participants frustrated over the lack of clarity, a KYC-gated ICO, and a smaller than expected airdrop allocation.
- Despite this, we think there are positive dynamics in play for the TGE, including a high cost basis for ICO participants, a lack of initial airdrop sellers, and PUMP’s unique value proposition within the asset class.
We recommend reading our previous report on PUMP’s valuation for more context here.
PUMP Releases Initial Tokenomics
Today, the pump.fun team dropped the initial tokenomics for their much anticipated PUMP token, which has a total supply of 1 trillion.
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Sunny was previously a TradFi Research Analyst at a long-only hedge fund. He is now an Enterprise Research Analyst at Messari focusing on consumer, DeFi, and all things cool.