Pump.fun’s initial coin offering is set to take place on Saturday, July 12. 

While there’s been speculation and reporting around a potential PUMP token, the announcement Wednesday is the first official communication from the team. Blockworks previously reported that pump.fun planned to raise $1 billion through a token sale, which would put the valuation at $4 billion. 

The PUMP ICO will not be made available to US or UK investors, the platform said.

The tokens will be sold for $0.004 apiece. With a maximum supply of one trillion tokens, that means the public sale will happen at a $4 billion fully diluted valuation. Only 49 tokens currently hold that high of an FDV, per…

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