Crypto Memecoin Creation Platform Pump.fun made its first acquisition after purchasing the wallet tracking platform Kolscan and considering gamification to drive growth.
Pump.Fun said Thursday it acquired Kolscan, a platform named after the term “key opinion leader” that “monitors the activity of top-on-chain traders.”
“Our integration not only allows for great products for both the fun users of both Kolscan and Pump, but also offers a completely new experience that will change the entire on-chain trading environment,” says Pump.Fun.
The acquisition is expected to be a bid from Pump.Fun to strengthen its future offering ahead of Saturday’s first coin offering (ICO). The platform has lost market share in rival newcomers Memecoin launcher Letsbonk.
Gamemy trading: “The key to growth”
Alon Cohen, co-founder of Pump.Fun, writes that the acquisition of Kolscan is in line with his belief that “Onchain Trading is a social sport.”
“We believe products that provide social insights/tools and gaming trading experiences are key to expanding ecosystems.”
Pump.Fun was credited with Memecoin Revival last year. MemeCoins are cryptographic tokens that are typically tied to social media trends that have no intrinsic value or utility beyond highly speculative transactions.
According to Defilama, the platform makes it easy for users without coding skills to create tokens.
pump.fun plans more Kolscan features
Cohen added that Pump.Fun plans to improve and tackle Kolscan’s additional features, allowing the tool to be freely used.
He plans to improve the reliability and speed of tokens, trades, losses and loss data, and rewards real traders again on the leaderboard, not just “colls.” ”
Pump.Fun also plans to “give additional insights on copy trading activities (and other data points) that can shed light on the trader’s strategy.”
Cohen said the platform is “a central part of Crypto’s push to build a social media platform and can expand to billions.”
Related: Bots behind most tokens in pump.fun and letsbonk: Coinbase exec
Pump.Fun is already beginning to offer social media type features such as live streaming. It was closed last year after users broadcast harmful and violent behavior.
This feature was revived in April for a small number of users with moderation systems.
Pump.Fun ICO aims to raise $1 billion
Meanwhile, Pump.Fun said Wednesday it was launching an ICO for its “pump” tokens on Saturday after weeks of speculation and leaks.
The pump’s total supply is 1 trillion tokens, of which 300 billion people, or 33%, target investors at $0.004 per person, targeting $1 billion in salary increases.
Institutional investors will be allocated 180 billion tokens from the ICO and public sales including 150 billion pumps will confirm previous leaks from Crypto Exchange Gate.io.
Pump.Fun has banned US and UK investors from offering ICOs due to regulatory concerns.
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