Weekly Project Updates: Pumpfun Prepares for Token Sale, WLFI to Launch Official Wallet, Yuga Labs CEO Proposes Dissolving ApeCoin DAO, etc

Jun 07, 2025

1. Pumpfun Plans $1B Token Sale at $4B Valuation link

Pumpfun plans to conduct a $1 billion token sale at a fully diluted valuation (FDV) of $40 billion, targeting both public and private investors. As part of its proposed $10 billion token issuance plan, Pumpfun is considering allocating part of the protocol’s revenue to future PUMP token holders. It is currently unclear how much revenue will be distributed, nor whether this will include the revenue from its decentralized exchange platform PumpSwap. The total supply of PUMP tokens is expected to be 1 trillion, with the current private placement pricing set at $0.004 per token. The public offering is expected to launch within two weeks, accompanied by an airdrop. Approximately 25% of the token supply will be allocated to the public offering, and 10% for the airdrop.

2. Donald Trump Jr. Denies TRUMP Wallet Link, WLFI to Launch Official Wallet link

On June 4th, according to a report in The New York Times, the developers of the Trump — supported TRUMP Meme coin partnered with Magic Eden to launch the “official TRUMP wallet”, but there was a disagreement within the Trump family. Donald Trump Jr., Eric, and Barron Trump all denied the family’s involvement in the project on X. Eric said that legal action would be taken against projects that used the Trump name without approval. That day, the trumpwalletapp account on the X platform shows as frozen.

Donald Trump Jr. stated that the Trump Organization has no association with the TRUMP Wallet products currently on the market, and he and Eric Trump were unaware of the product. Meanwhile, they are advancing the official wallet project of World Liberty Financial, with related products coming soon to be released.

On June 5th, the X account @TrumpWalletApp of the TRUMP wallet was briefly unfrozen and then refrozen.

On June 6th, according to Bloomberg, a conflict emerged within the Trump family’s cryptocurrency — related business. World Liberty Financial, in which the president’s children hold shares, sent a legal letter to the Fight Fight Fight company led by Bill Zanker, a close friend of the president, demanding that it stop using the “TRUMP” name to promote the unauthorised wallet project “TRUMP Wallet”. This wallet was developed by Fight Fight Fight in cooperation with Magic Eden and promised to support the trading functions of memecoins and other digital assets, which has triggered public opposition from Donald Trump Jr. and Eric Trump.

3. EigenLayer Redistribution Mechanism Goes Live on Testnet link

EigenLayer announces that its redistribution mechanism has gone live on the testnet. AVS (Active Validation Service) can now redirect the penalized funds instead of destroying them, enabling new use — cases such as lending and insurance protocols. This feature is operational on the Holesky, Sepolia, and Hoodi testnets and is expected to be launched on the mainnet by the end of June or in July.

4. Yuga Labs CEO Proposes Voting to Dissolve ApeCoin DAO, Launch ApeCo Model link

Yuga Labs CEO Greg Solano has launched a proposal vote to dissolve the ApeCoin DAO and initiate a new operational model, ApeCo. The proposal states that the ApeCoin DAO has become disconnected from the future, while ApeCo is a new entity established by Yuga Labs to accelerate the APE ecosystem and solidify the three core pillars of ApeChain, BAYC, and Otherside. Except for fully funding the ApeCoin staking contract (approximately 11.25 million APE) and reserving 10 million APE for legal and contractual obligations, as well as other expenses, all remaining assets of the Ape Foundation and ApeCoin DAO will be transferred to ApeCo.

5. Ethena USDe Net Staking Hits $839M in May link

With the APY of sUSDe rebounding above 6.5%, Ethena’s USDe saw a net staking volume of $839 million in May, the third-highest monthly figure in history. The staking ratio rebounded from less than 45% at the beginning of the month to over 57%. Pendle Intern stated that Pendle contributed $8.2 billion (approximately 83%) of the inflows, and the TVL of Ethena sUSDe on Pendle grew from $1.07 billion to $1.89 billion in May.

6. Data: USD1 On — Chain Volume Surpasses CEX, Market Making Concentrated in Few Addresses link

According to Kaiko data, USD1 launched by WLFI has garnered recent attention, but most of its trading volume remains on-chain. Among them, the daily trading volume on PancakeSwap reaches $14 million, far exceeding the $8 million on Binance. More than half of the market-making activities of the leading USD1 Pool LP come from just three wallets. Additionally, the average trading volume of USD1 on centralized exchanges (CEXs) lags behind Ripple’s stablecoin RLUSD.

Furthermore, data from the @defioasis dashboard shows that USD1 trading pair volumes remain significantly concentrated on “B” and “CA.” These are the only two USD1 trading pair targets that exceeded $10 million in trading volume over the past 24 hours.

7. Sei Network Sees 621K Daily Active Wallets, 1.17M Transactions on June 3 (All — Time Highs) link

According to DappRadar data, on June 3rd, the number of daily independent active wallets on Sei Network reached 621,000, and the number of transactions reached 1.17 million, both hitting all — time highs. The growth of users and transactions on Sei Network is mainly driven by several games, including World of Dypians, Europe Fantasy League, Hot Spring, and Archer Hunter, etc.

8. Tether Launches Cross — Chain Gold Stablecoin “XAUt0” on TON Blockchain link

Tether announced a collaboration with the TON Foundation to launch XAUt0, an omnichain — version of its gold — backed stablecoin, on the TON blockchain. The aim is to expand the accessibility of digital gold through a multi — chain interoperability strategy. XAUt0 is built on the LayerZero ‘s Omnichain Fungible Token (OFT) standard, enabling free transfers between different chains. According to CoinGecko data, XAUt is currently the world ‘s largest — market — cap gold — backed stablecoin, with a circulation of over $832 million, and it is currently only issued on Ethereum. Tether has not yet revealed the list of other blockchain platforms that will support XAUt0 in the future.

9. Hyperlane Trade Volume Questioned; LayerZero Co — Founder Alleges Wash Trading link

Cross-chain communication protocol Hyperlane has come under scrutiny over its trading volume data from LayerZero co-founder Bryan Pellegrino, who claims some addresses have been engaged in wash trading — swapping $24,000 back and forth approximately every 30 seconds to simulate fake trading volume. Hyperlane responded that these users have no affiliation with the protocol itself and are likely chasing HYPER token rewards. Pellegrino argued that Hyperlane’s token reward distribution lacks fairness. Previously, LayerZero conducted a large-scale anti-sybil campaign during its airdrop.

10. Ripple’s RLUSD Stablecoin Gets Regulatory Approval in Dubai link

Ripple has announced that its stablecoin RLUSD has obtained approval from the Dubai Financial Services Authority (DFSA) for use in the Dubai International Financial Centre (DIFC). RLUSD was previously issued under the regulation of the New York State Department of Financial Services (NYDFS). This approval allows Ripple to integrate RLUSD into its DFSA-licensed payment solutions, while other licensed enterprises within the DIFC can also use the stablecoin.

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