Pump.fun burns $370 million PUMP, launches a 50% revenue buyback and burn program

Solana meme coin launchpad Pump.fun announced on X on April 28 that it has burned all PUMP tokens from prior buybacks. The total burned amount is approximately $370 million, accounting for 36% of the circulating supply of PUMP tokens. At the same time, it has launched a new buyback-and-burn program, funded by 50% of net income from Pump.fun’s bond curve, PumpSwap, and Terminal.

PUMP Token Burn Scale and Community Trust Statement

（Source: SolScan）

According to Pump.fun’s official statement released on X, the value of the PUMP tokens burned in this event is approximately $370 million, accounting for 36% of the circulating supply. In the statement, Pump.fun said: “We believe there was a problem of missing trust in the past—there was a lack of trust in the company’s long-term operations, the certainty of token buybacks, and the purpose of the buyback tokens. Now, we are taking a community-first approach to address these uncertainties in a positive way.”

Buyback-and-Burn Program Structure and Revenue Allocation Mechanism

According to Pump.fun’s official statement, revenue will be allocated as follows in the new buyback-and-burn program:

50% of net revenue used for buyback-and-burn: Through an irreversible, locked smart contract, PUMP will be automatically bought back and burned from the public market within one year; it covers the net revenue from three lines of business: Pump.fun’s bond curve, PumpSwap, and Terminal

The remaining 50% of net revenue used for business development: Including talent recruitment, building an elite product team, large-scale investments, and marketing activities for its product portfolio

Pump.fun co-founder Alon Cohen explained that the buyback ratio changes from 100% of revenue previously to 50%, saying: “With strong financial strength, we can make bold investments over the next 5 to 10 years, and the 50% of ongoing revenue will allow us to build better products.” According to The Block, Alon Cohen said Pump.fun’s long-term goal is to transform from a memecoin launchpad into a default launch platform for any tokenizable content.

Current Platform Revenue Situation

According to on-chain data platform DefiLlama, since launching in January 2024, Pump.fun has generated cumulative revenue of more than $664 million through its memecoin launchpad, PumpSwap, and the Padre platform. According to The Block, last month Pump.fun became the first platform in the Solana ecosystem to surpass $1 billion in cumulative revenue; this year to date, revenue is nearly $150 million.

FAQ

How many PUMP tokens did Pump.fun burn this time? What are the sources of the information?

According to The Block’s report and Pump.fun’s official X platform statement, Pump.fun has burned all previously bought back PUMP tokens, with a total value of approximately $370 million, accounting for 36% of the circulating supply of PUMP tokens.

What are the funding sources and execution mechanism for Pump.fun’s new buyback-and-burn program?

According to Pump.fun’s official statement, the new program is funded by 50% of the future net income from three lines of business: Pump.fun’s bond curve, PumpSwap, and Terminal. It will automatically buy back and burn PUMP tokens from the public market within one year through an irreversible, locked smart contract.

Which source provides Pump.fun’s cumulative revenue data? What are the latest figures?

According to DefiLlama data, Pump.fun’s cumulative revenue since launch is more than $664 million; according to The Block’s report, revenue this year to date is close to $150 million. Last month, it became the first platform in the Solana ecosystem to achieve more than $1 billion in cumulative revenue.