Gate News message, April 28 — Pump.fun announced on April 29 that it has burned all previously repurchased PUMP tokens, worth approximately $370 million, representing about 36% of the circulating supply.
The platform is launching a one-year programmatic buyback and burn initiative, allocating 50% of future revenues to purchase PUMP tokens on the open market and immediately destroy them. The buyback and burn process is executed automatically through irreversible locked smart contracts. The remaining 50% of revenues will be directed toward operations, growth, and strategic investments, including hiring, product development, and marketing.
Pump.fun stated that for the previous nine months, it had allocated 100% of revenues to buybacks; however, this lacked transparency and eroded community confidence. The new structure aims to balance token value management with sustainable platform operations.
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