Gate News message, April 29 — Pump.fun, a Solana memecoin launchpad, announced that it has burned all previously bought-back PUMP tokens worth approximately $370 million, representing 36% of the token’s circulating supply. The platform is simultaneously launching a new buyback-and-burn program funded by 50% of its future net revenue.
The buyback-and-burn scheme will operate for one year, with 50% of net revenue from Pump.fun’s bonding curve, PumpSwap, and Terminal automatically used to purchase and burn PUMP from the open market via an irreversible locked smart contract. The remaining 50% of revenue will support business operations, including product development, hiring, and marketing campaigns. Co-founder Alon Cohen stated the platform aims to operate sustainably for decades, transitioning from a memecoin launchpad into a default platform for launching any tokenizable asset.
Pump.fun became Solana’s first platform to surpass $1 billion in cumulative revenue since launching in January 2024. The platform generated over $664 million across its three main products and reported nearly $150 million in revenue year-to-date. PUMP token rose 7.1% in the past 24 hours to $0.0019.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Trader 0xcc15 Records $402K Loss on $MEGA Long Position
Gate News message, Trader 0xcc15 opened a 1x leveraged long position on 11.96 million $MEGA tokens valued at $1.96 million and currently shows an unrealized loss of $402,000.
GateNews41m ago
Riot Platforms Deposits 500 BTC Worth $38.24M to NYDIG
Gate News message, Riot Platforms has deposited another 500 BTC, valued at $38.24 million, to NYDIG five hours ago. This marks a continuation of the company's Bitcoin selling activity.
GateNews53m ago
Bitwise XRP ETF Records $5.8284 Million Net Outflows on April 30
According to Foresight News citing SoSoValue data, Bitwise XRP ETF recorded net outflows of $5.8284 million on April 30. The fund's historical cumulative net inflows have reached $422 million, with total assets under management at $1.044 billion.
GateNews1h ago
Grayscale Solana Trust Sees $1.24M Net Outflows on April 30
According to SoSoValue, Grayscale Solana Trust (GSOL) experienced net outflows of $1.2396 million on April 30 (U.S. Eastern Time). As of press time, Solana spot ETF assets under management totaled $849 million, with cumulative net inflows reaching $1.018
GateNews1h ago
Ark Invest Buys 500,000+ Robinhood Shares on Wednesday as Analysts Bet on Crypto Recovery
Cathie Wood's Ark Invest purchased over 500,000 shares of Robinhood on Wednesday (April 30), joining analysts including those at Cantor Fitzgerald who believe a surge in April trading activity will offset recent earnings disappointment. The move reflects institutional confidence in Robinhood's crypt
GateNews2h ago
Benchmark Defends Strategy's $3.5B STRC Bitcoin Accumulation Model as Sustainable
According to Benchmark analyst Mark Palmer in a Wednesday report, Strategy raised approximately $3.5 billion in early April through STRC preferred stock issuance, with over 85% of proceeds deployed to purchase 51,364 bitcoin. Palmer pushed back against critics framing the variable-rate perpetual pre
GateNews4h ago
