Solana Ecological Crypto Launch Platform Pump.fun has launched a IPO token, which is used to track some blue-chip private companies that may have high growth potential before going public.
The list includes OpenAI, Anthropic, Polymarket, Kalshi, and Neuralink, among others.
Driven by this progress, PUMP has risen by 8%, but these pre-IPO tokens are still in the early stages and characterized by high volatility.
Pump.fun has officially launched a token designed to track the market value and market sentiment of major companies before their initial public offerings (IPOs).
This feature is supported by @PreStocks. The initial launch includes pre-IPO assets as well as the paired meme currency. Previously, to issue meme currency on this platform, SOL or USDC had to be used as the underlying quoted asset. This stock integration means that meme currency will now use a specific pre-IPO tracking token as the quoted asset, hence it is referred to as “Custom Pairs”.
A total of eight initial companies are included in this launch, which are categorized as follows:
- AI companies – including OpenAI and Anthropic.
- Predictive market companies – including Polymarket and Kalshi.
- Robot companies – Figure AI belong to this category; the company creates autonomous, general-purpose humanoid robots.
- Neurotechnology company – another company under Elon Musk, Neuralink, is also among them.
- Defense technology contractors – Anduril fall into this category; the company manufactures indigenous military weapons.
- Health companies – Oura belong to this category; this company produces biometric smart ring trackers.
For Pump.fun, this development has driven its token PUMP to rise by 8.41% in the past 24 hours, reaching a price of $0.004475.
This increase is attributed to the newly launched custom and pair tokens, which will contribute transaction fees to the ecosystem, thereby supporting its token buyback and burn mechanism.
As of late October, the model had permanently destroyed 17.2% of the fixed supply of that token. Coupled with rising demand and the advancement of the project, this has increased the value of that token.
It should be noted that when the valuation of these synthetic assets soars to extreme levels (trillions of dollars), the total assets of the platform may still be significantly lower, resulting in a disconnect between valuation and actual assets.
In addition, the use of these tokens is currently restricted to all U.S. citizens, as they are considered synthetic derivatives. The U.S. Securities and Exchange Commission (SEC) recently prohibited this type of asset when granting a five-year innovation exemption for tokenized stocks.
Outside of the United States, users consider that a token fee of 3% to 5% for short-term, high-frequency trading to be a significant cost.
On the critic side, Ethereum, co-founder Vitalik Buterin, and Curve, founder Michael Egorov, have previously criticized this Solana launch platform, describing it as similar to a gambling den or casino.
On X, the community questions its liquidity issues and regulatory status, while some people are looking forward to participating in it.
