Pump.fun Acquires Kolscan Ahead of $1B ICO

Pump.fun, the viral memecoin creation platform, has made its first acquisition. On Thursday, it announced the purchase of Kolscan, a wallet-tracking tool that monitors top onchain traders.

The move comes just days before Pump.fun launches its highly anticipated initial coin offering (ICO) for its new “PUMP” token. The platform is aiming to raise $1 billion in the offering, set for Saturday.

Kolscan Adds Gamification to Pump.fun

Kolscan, named after the term “Key Opinion Leader” (KOL), provides real-time tracking of crypto whales and influencers. It includes transaction insights, profit and loss data, and a leaderboard of top traders.

Pump.fun says the acquisition will create “totally new experiences” for both Pump.fun and Kolscan users.

Alon Cohen, co-founder of Pump.fun, said the acquisition reflects the company’s focus on social engagement and gamification.

“Onchain trading is a social sport,” Cohen wrote on X. “We believe that tools that gamify trading will grow our ecosystem.”

Platform Pushes Social Features

Pump.fun made waves in 2023 for reviving the memecoin boom, allowing anyone to launch tokens without coding. At its peak, it generated millions in daily revenue, according to DefiLlama.

Facing competition from rival LetsBonk, Pump.fun is now pushing social media-style features. These include livestreaming, which the platform shut down last year due to harmful broadcasts. It relaunched the feature in April with moderation.

The Kolscan acquisition is part of a larger vision. Cohen said the platform aims to become “crypto’s social media platform that can scale to the billions.”

Pump.fun has already made Kolscan free to use and plans upgrades. These include faster data feeds, better trade analytics, and a revamped leaderboard that rewards actual traders—not just influencers.

Pump.fun ICO Targets $1 Billion Raise

Pump.fun confirmed it will launch the PUMP token ICO on Saturday. The token has a total supply of 1 trillion, with 33% (330 billion tokens) offered to investors at $0.004 per token.

Of that, 180 billion tokens will go to institutional investors. The remaining 150 billion will be available to the public. The platform has excluded investors from the U.S. and U.K. due to regulatory issues.

The ICO follows weeks of leaks and speculation, with listings confirmed by Gate.io.