Pump.fun, the Solana-based memecoin launchpad, burned approximately $370 million worth of its native PUMP token on Tuesday. The burn removed roughly 36% of the token’s circulating supply and was carried out across two on-chain transactions.
The burned tokens were accumulated through open-market buybacks over the past nine months, during which 100% of platform revenue was directed toward purchasing PUMP. All previously repurchased tokens have now been permanently destroyed.
The future of $PUMP
We have burned ALL bought back $PUMP tokens, around $370M worth of purchases (~36% of circulating supply), to gain trust with our community.
On top of that, we have initiated a programmatic buyback *and burn* scheme at 50% of revenue for the next year to…
— Pump.fun (@Pumpfun) April 28, 2026
“We believe there was a lack of trust — in the longevity of the business, the certainty of buybacks, and what the bought-back tokens would be used for,” Pump.fun wrote on X.
Co-founder Alon Cohen posted on X about the announcement, calling it “a turning point for PUMP and Pump.fun.” He said he is “extremely confident that 50% of the business we’re building toward will dwarf 100% of the business we have today.” Cohen’s post framed the decision as balancing token support with long-term growth.
today is a turning point for $PUMP and pump fun
I want to give more context on the bigger picture and where we're actually going.
over the past ~9 months, 100% of revenue went into buybacks. basically no other platform in crypto has done that at this scale.
however, we… https://t.co/3WTAHH1fUX
— alon (@a1lon9) April 28, 2026
Alongside the burn, Pump.fun announced a new programmatic buyback-and-burn program. For one year, 50% of net revenue from its Bonding Curve, PumpSwap, and Terminal products will be used to automatically purchase PUMP on the open market and immediately burn the tokens.
The mechanism runs through a locked smart contract and intermediary wallets, designed to automate execution and provide on-chain transparency.
This is a reduction from the previous model, which used 100% of revenue for buybacks. Pump.fun said the change was needed to avoid over-relying on its treasury and to free up funds for growth.
The remaining 50% of revenue will go toward operations, hiring, marketing, acquisitions, and new product development. Cohen said the platform wants to become the default venue for tokenizing and trading new asset classes on-chain.
Pump.fun surpassed $1 billion in cumulative revenue last month, becoming the first Solana platform to do so since its January 2024 launch. According to DefiLlama, the platform has generated over $664 million from its launchpad, PumpSwap, and Padre, with nearly $150 million earned so far in 2025.
PUMP initially jumped more than 10% on the news before giving back some gains. At the time of writing, the token was trading around $0.00184, up approximately 3% on the day.
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