Venmo co-founder Iqram Magdon-Ismail and early investor Sam Lessin have launched a token called Jelly-my-jelly (JELLYJELLY) on Pump.fun, with a market cap reaching $250 million. The token is intended to support the upcoming JellyJelly video sharing app. It was initially rumored to be a meme coin but is actually part of a new trend of projects launching tokens on Pump.fun that will later tie in with a product. Holders of the token will gain early access to the JellyJelly app. The token's value spiked rapidly but has since retraced. The details of how the token will be integrated into the app are still unclear.



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