Solana-based memecoin launchpad Pump.fun burned around 36% of PUMP▲$0.00152531 supply, lifting Pumpfun coin price 7.6% under its new tokenomics plan.
Pump.fun, the Solana-based token launchpad that made it cheap and fast for almost anyone to create a memecoin, said it burned about $370 million worth of PUMP tokens that had already been bought back from the market.
In an X thread on April 29, the platform said the burn removed roughly 36% of PUMP’s circulating supply.
According to the team, the move is aimed at one of the main complaints around PUMP since launch. Traders could see buybacks happening, but as Pump.fun co-founder Alon Cohen put it, there was still concern over “the certainty of buybacks,” and “what would happen to the bought-back tokens.” The launchpad is now saying those tokens are gone for good.
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Pump.fun Turns Fees Into Pumpfun Coin Burns
Pump.fun also said it has started a new one-year buyback and burn program.
- Under the plan, 50% of net revenue from the Pump.fun bonding curve, PumpSwap and Terminal will be used to buy PUMP on the open market and burn those tokens.
- The project said the process is programmed through an irreversible locked smart contract for one year. The other 50% of revenue kept for operations, hiring, marketing, and acquisitions.
That changes the setup from the past roughly nine months, when Pump.fun said it had been allocating 100% of revenue to buybacks. The team said the new structure is meant to give token holders more certainty while still leaving the business enough cash to keep growing.
Pump.fun Revenue Gives the Plan Real Weight
Data from DeFiLlama shows Pump.fun has generated over $1 billion in cumulative revenue as of April 29, with about $24.8 million coming over the past 30 days and annualized revenue near $303 million.
That makes the buyback plan easier to measure. If activity stays high, the 50% revenue rule creates a steady buyer of PUMP, and every purchased token under the plan is supposed to be burned.
Following the news, the price of Pumpfun coin (PUMP) jumped 7.6%, pushing the memecoin to around $0.0019 on April 29, with CoinGecko showing a market capitalization of about $687.7 million.
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