According to ChainCatcher's message, the well-known crypto KOL He Bi (@hebi555) posted a disclosure on X: "The known information about pump.fun is that it will be publicly offered on major exchanges, and it is said to be a Dutch auction model. It was originally exclusive to a certain exchange, but due to compliance issues, that exchange has canceled it, and now it has been changed to a public offering on multiple exchanges.
Because the project is huge and has many requirements, the public offering systems of the major exchanges currently do not meet the needs of pump.fun. All the major exchanges are customizing the public offering procedures for pump.fun.
However, it is still full of variables until the end. pump.fun is also facing a class-action lawsuit in the United States, and it seems that the token will only be issued after the litigation is over."
