Pump.fun Burns $370M in PUMP Tokens, Commits 50% of Future Revenue to Buyback-Burn Program

Gate News message, April 29 — Pump.fun, a Solana memecoin launchpad, announced on Tuesday (April 28) that it has burned all previously bought-back PUMP tokens worth approximately $370 million, representing 36% of the native token’s circulating supply.

The platform is simultaneously launching a new buyback-and-burn program funded by 50% of future net revenue for one year. According to Pump.fun, 50% of net revenue from its bonding curve, PumpSwap, and Terminal will be automatically used to buy back and burn PUMP tokens from the open market via an irreversible locked smart contract. The remaining 50% of revenue will support business operations, product development, hiring, and marketing initiatives.

Alon Cohen, co-founder of Pump.fun, explained the shift from 100% to 50% revenue allocation for buybacks, stating that maintaining a substantial treasury provides flexibility for major strategic bets over the next 5-10 years while advancing the platform’s vision of becoming a default launch platform for any tokenizable asset.

Pump.fun became Solana’s first platform to exceed $1 billion in cumulative revenue since launching in January 2024. The platform has generated over $664 million in total revenue across its services and reported nearly $150 million in revenue so far this year. The price of PUMP rose 7.1% in the past 24 hours to $0.0019 as of Tuesday evening.