Pump.fun Burns $370M PUMP Tokens, 36% of Supply

Pump.fun, a leading Solana-based memecoin launchpad, permanently burned approximately 370 million dollars worth of its native PUMP tokens on April 28, 2026, removing roughly 36 percent of the circulating supply. The action, executed through two onchain transactions using the Solana blockchain's Squads Program, destroyed all tokens previously accumulated via buybacks funded by 100 percent of the platform's revenue over the prior nine months.

The burns involved 123.1 billion PUMP tokens valued at about 234.9 million dollars in one transaction and an additional 4.15 billion tokens worth roughly 7.9 million dollars in another, according to onchain records from Solscan. Pump.fun described the move as a deliberate step to rebuild community trust amid concerns over the longevity of buybacks and the intended use of repurchased tokens. "We have burned ALL bought back PUMP tokens, around 370M worth of purchases 36 of circulating supply, to gain trust with our community," the platform stated in an announcement on X. "On top of that, we have initiated a programmatic buyback and burn scheme at 50 of revenue for the next year."

Alongside the burn, Pump.fun unveiled a new one-year structure...