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Pump.fun has changed its token burn policy after reviewing nine months of full revenue buybacks. The Solana-based launchpad will now split revenue between token burns and internal operations, according to an update posted on X. The company also carried out large token burns this week.
Previously, Pump.fun directed 100% of its net revenue to automated buybacks and burning PUMP tokens. The company said that approach did not fully support long-term operations. Under the new model, 50% of net revenue will be allocated to automated buybacks and burns, while the remaining 50% will be retained to fund business growth.
Pump.fun said it has burned all PUMP tokens acquired through buybacks, totaling about $370 million in purchases, or roughly 36% of circulating supply. The company described the update as a programmatic buyback and burn scheme at 50% of revenue for the next year.
According to Pump.fun, half of future net revenue will flow into an irreversible smart contract that will purchase PUMP tokens on the open market and burn them over the next year. The retained portion will be used for product development, hiring, marketing, and acquisitions.
Co-founder Alon Cohen said the company needs resources to keep Pump.fun operating for “decades to come.” He also pointed to concerns about trust in the certainty and purpose of buybacks.
Pump.fun acknowledged that PUMP traded below its launch valuation for most of 2026. The company said this happened despite nine months of full revenue buybacks and more than $1 billion in lifetime revenue, attributing it to “a lack of trust in the longevity of the business.”
Pump.fun confirmed it burned all PUMP tokens acquired through buybacks over the past nine months. The burns removed roughly 36% of the circulating supply in two Solana transactions, which the company described as among the largest supply reductions by circulating share.
The company explained that burning permanently removes tokens by sending them to an inaccessible wallet address, reducing circulating supply and preventing those tokens from reentering the market. It said the smart contract will continue weekly burns using half of net revenue.
DefiLlama data cited by Pump.fun shows it generated $971.37 million in gross protocol revenue during 2025. For 2026, revenue annualizes at roughly $320 million so far, which would reduce burn volumes under the new 50% revenue structure.
DefiLlama also reports annualized fees of $802 million and revenue of $416 million. Pump.fun ranks among crypto platforms producing large cash flows. Following the announcement on Wednesday, PUMP rose 6.9% within 24 hours.
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