Crypto memecoin creation platform Pump.enjoyable has made its first-ever acquisition, shopping for the wallet-tracking platform Kolscan, with its founder gamification to drive progress.
Pump.enjoyable mentioned on Thursday that it had acquired Kolscan, a platform named after the time period “key opinion chief” that “displays the actions of prime onchain merchants,” provides real-time transactions, their positive factors and a “leaderboard rating their efficiency.”
“Our integration won’t solely allow higher merchandise for each Kolscan and pump enjoyable customers, however enable for completely new experiences that may change your entire onchain buying and selling panorama,” Pump.enjoyable mentioned.
The acquisition seems to be a bid from Pump.enjoyable to bolster its future choices forward of its preliminary coin providing (ICO) on Saturday, which goals to boost $1 billion. The platform has been shedding market share to rival newcomer memecoin launcher LetsBonk.
Gamifying buying and selling “key to rising”
Pump.enjoyable co-founder Alon Cohen wrote on X that the Kolscan acquisition aligned together with his perception that “onchain buying and selling is a social sport,” with memecoin punters buying and selling with associates and evaluating their bets.
“We imagine that merchandise that present social insights/instruments and gamify the buying and selling expertise are key to rising our ecosystem.”
Pump.enjoyable was credited with final yr’s memecoin revival. Memecoins are crypto tokens which might be often tied to social media developments that haven’t any intrinsic worth or utility past extremely speculative buying and selling.
The platform permits customers with no coding expertise to simply create tokens, which noticed Pump.enjoyable make hundreds of thousands of {dollars} in income a day at its peak in January, in line with DefiLlama.
Pump.enjoyable plans extra Kolscan options
Cohen added that Pump.enjoyable plans to enhance and tack on further options to Kolscan and has made the software free to make use of.
He added Pump.enjoyable plans to enhance the reliability and velocity of the info for tokens, trades and revenue and losses, together with making the leaderboard “reward actual merchants once more, not simply ‘KOLs.’”
Pump.enjoyable additionally plans to “give further insights into copytrading exercise [and] different datapoints that may make clear a dealer’s methods.”
Cohen mentioned the platform might be “a core a part of our push to constructing crypto’s social media platform that may scale to the billions.”
Associated: Bots behind most tokens on Pump.enjoyable and LetsBonk: Coinbase exec
Pump.enjoyable has already began to supply social media-type options corresponding to livestreaming, which it shut down final yr after customers broadcast dangerous and violent acts.
The characteristic was revived in April for a handful of customers with moderation techniques in place.
Pump.enjoyable ICO goals to boost $1 billion
In the meantime, Pump.enjoyable mentioned on Wednesday that it was launching an ICO for its “PUMP” token on Saturday after weeks of hypothesis and leaks.
PUMP could have a complete provide of 1 trillion tokens, 330 billion of which, or 33%, might be put aside for traders at $0.004 a pop to focus on a $1 billion elevate.
Institutional traders might be allotted 180 billion tokens from the ICO, with the general public sale to comprise 150 billion PUMP, confirming an earlier leak from crypto alternate Gate.io.
Pump.enjoyable banned its ICO supply to traders within the US and UK as a result of regulatory issues.
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