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- Pump. Fun makes its first acquisition by buying Kolscan, a wallet tracking tool on Solana.
- The deal comes just before Pump’s $4 billion ICO launch.
- The move aims to combine social features with on-chain trading analytics.
Pump.fun, a platform best known for creating memecoins, has announced the purchase of Kolscan. The tool runs on Solana and tracks the wallets of top on-chain traders. It shows real-time profit-and-loss updates and ranks wallet activity.
This transaction is the first major business venture of Pump since it was founded. The announcement comes a week before the scheduled initial coin offering, which puts the worth of the company at $4 billion, according to reports.
Kolscan already has a user base of thousands of active members. It focuses on offering detailed information on trades, including leaders of traders and current P&L data. Consumers employ it to view wallet activity as well as major moves. Through the incorporation of Kolscan, Pump aims to add variety to the offerings as well as strengthen the social trading aspiration.
Trading and Social Layers Combine
It views the trading activity as not only a financial activity, but a social activity as well. It aims to provide an environment for users to follow others, compete, and learn through the process of interactions. That aligns well with the design of Kolscan.
Leaderboard system and wallet transparency enable the traders to see what the top users are doing in real-time. They help the new users analyze and even mimic the strategies of the veteran traders. The team wants to reward real traders and make the leaderboards meaningful.
They will also seek to illuminate copy trading trends. That could spur greater activity among active users and build a community wherein data sharing and trading are highly correlated. All the tools of Kolscan will become free to use, increasing access and boosting activity among the users on the platform.
Pump.fun Expands Beyond Memecoins
Pump.fun has been developing several social features into their platform. Among them are a live broadcast feature and a revenue-sharing mechanism with token holders. Incorporating the features of Kolscan adds a robust analytics feature into such a system. It helps the users to interact, analyze, and trade through a decentralized and gamified community.
Pump’s bigger mission is the building out of a mass social network for cryptocurrency. By buying into this project, it makes a very explicit play towards that future. By giving people tools to track, compete, and communicate in real-time, Pump hopes to become something more than a memecoin hub.
It seeks to turn trading into a social activity. As the ICO draws near, Pump positions itself as a platform that mixes financial activity with social interaction. Kolscan therefore becomes a central part of the process.
This update reveals that Pump.fun is branching out of memecoins to build a social trading platform. Through the new project named Kolscan, the users will follow top traders, copy strategies, and interactively trade further. It’s going to become a social hub of cryptocurrency.
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