Pump.fun burned approximately $370 million worth of PUMP tokens, and 50% of its revenue over the next year will be used for buybacks and burning.

CoinFeed reported on April 29th that Pump.fun announced on its X platform that it has burned all previously repurchased PUMP tokens, worth approximately $370 million, representing about 36% of the circulating supply. Simultaneously, Pump.fun launched a year-long programmatic buyback and burn program, allocating 50% of future revenue to the open market to purchase PUMP tokens and burn them immediately. The buyback and burn are executed automatically through an irreversible locked smart contract. Pump.fun stated that for the previous nine months, the platform had used 100% of its revenue for buybacks, but a lack of transparency led to insufficient community trust. Following this adjustment, the remaining 50% of revenue will be used for operations, growth, and strategic investments, including recruitment, new product development, and marketing, with the goal of ensuring Pump.fun's long-term sustainable operation.