Upbit Announces Listing of Solana-Based Meme Coin Pump.fun (PUMP)

South Korean cryptocurrency exchange Upbit has officially revealed plans to list Pump.fun (PUMP), a Solana-based meme coin platform, in its trading markets. Starting at 10:00 PM Korean Standard Time (KST) on November 11, Pump.fun (PUMP) will be available for trading on both the Korean Won (KRW) and Tether (USDT) markets. The listing enables users to trade the PUMP token in a secure and regulated environment tailored to the specialized needs of cryptocurrency enthusiasts.

With deposits and withdrawals active within two hours of the announcement, Upbit has urged users to ensure the deposit network is correctly set to "Solana." Any deposits made via unsupported networks will result in failures, providing added emphasis on accuracy during transactions for seamless integration into the Solana ecosystem.

Initial Trading Restrictions Enhance Market Stability

Upbit has introduced temporary trading restrictions designed to ensure stability and fairness during the initial stages of PUMP’s introduction to the market. For the first five minutes after the listing, traders will be prohibited from placing buy orders. Additionally, sell orders cannot be initiated at prices that are 10% or lower than the previous trading day's closing price, as reported by CoinMarketCap.

Between the first and the second hour of trading, only limit orders will be permitted, while market and reserve orders will remain restricted during this timeframe. These measures aim to mitigate market volatility and establish a more predictable trading environment for new participants. The token's reference price is set at 7.76 KRW (approximately 0.0056 USDT), reflecting the closing price from the previous day. As of the latest update at 7:00 PM KST on November 11, the PUMP token was trading slightly higher at 8.07 KRW (approximately 0.0059 USDT).

Secure Deposit Guidelines and Protective Measures

Upbit has detailed critical security measures for deposits, emphasizing the importance of adhering to the correct PUMP contract address: (pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn). Users must utilize this officially supported address to guarantee proper deposit procedures.

Additionally, Pump.fun (PUMP) deposits and withdrawals will remain restricted to exchanges that comply with the Travel Rule or personal wallets fully verified under the ownership of the respective user. This adherence ensures compliance with international anti-money laundering regulations while enhancing the platform's security framework.

Understanding Pump.fun

Pump.fun is an innovative decentralized platform built on the Solana blockchain with a focus on simplifying the creation and exchange of meme coins. Distinguishing itself through automation, Pump.fun streamlines the token lifecycle—including issuance, trading, and pricing—via an on-chain bonding curve mechanism. This pricing model offers automatic price discovery while leveraging its proprietary Automated Market Maker (AMM) protocol, PumpSwap, for seamless user experience.

The PUMP token serves as the utility backbone of the platform, incentivizing community engagement through promotional campaigns, including airdrops. However, unlike other utility tokens, PUMP does not grant holders voting rights for governance decisions nor entitlement to revenue shares from the platform.

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