Pump.fun burns $370 million in PUMP token, commits 50% of future revenue for buyback-burn program
The Block
Pump.fun has burned $370 million in PUMP tokens and launched a program committing 50% of future net revenue to ongoing buybacks and burns.Summary
Solana-based memecoin launchpad Pump.fun has destroyed $370 million worth of PUMP tokens, representing 36% of the circulating supply, to address community trust concerns. Simultaneously, the platform introduced a new initiative allocating 50% of its net revenue from Pump.fun, PumpSwap, and Terminal to an automated buyback-and-burn program over the next year. The remaining 50% of revenue will be reinvested into product development and team expansion to support the platform's long-term vision of becoming a universal tokenization hub.
(Source：The Block)