🖼️🖼️🖼️🖇️ Pumpfun Replied To Pumpfun

Today, we’re excited to announce that we have also initiated a buyback scheme under our long term goal to remove and burn as much of the circulating token supply as possible.

$PUMP buybacks & burns have been programmed to occur at 50% of revenue via an irreversible locked smart contract for 1 year.

This means 50% of all net revenue from the pump fun Bonding Curve, PumpSwap & Terminal is automatically used to purchase $PUMP on the open market and immediately burn 100% of those purchases.

Buyback & burns are carried out as follows:

1. Transaction happens on the pump fun Bonding Curve, PumpSwap or Terminal
2. 50% of net fee revenue goes towards a set of intermediary wallets
3. Periodically, all intermediary wallets consolidate funds into 1 of 2 buyback & burn wallets
4. The buyback & burn wallets carry out ongoing buyback & burns

Example transactions (random txn, not affiliated with pump fun):

1 & 2: https://solscan.io/tx/54ZKMX74e1D3Ek6gb9VTtUvmu4LCuM81d7b4LwZrGa9ozXcLtSyYXr6KT5cfS9qWn7rUvD7pje9Dbp3nKRd3kxz7

3: https://solscan.io/tx/2dxpwjPSJEADSkn2RCKGFvQbt9gZyVViQMbPTf4Ybtf2evySgvQ135zebYS97q4nmqJmnmcdfs1Fqrd6UZ2fyh1p

4 (buy): https://solscan.io/tx/4MD8thT9XYaViCJbWGtfUdggMLpaKcDBHHnmkY7Kq8f4ZuwVPUtT7e95tAnNTZs874gCwPt4tgbgm1Fowz4uSjDg

4 (burn): https://solscan.io/tx/3yHqeWtVk1YPxsycQvXExSronWeASUYatRZPc9PVVoRELcdGo5db6j4TMKPuPD9oxXriP9jjBNzAjbRaoB2dYVNZ

Track ongoing buybacks & burns at http://fees.pump.fun.Pump.fun (@Pumpfun)
Why we burned $370M worth of $PUMP tokens

Over the past ~9 months, despite being one of the biggest revenue generating platforms in crypto and allocating 100% of revenue to buybacks, 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.

Today, uncertainty is being addressed head-on by taking a community-first approach. The initial step involves burning ~$370M worth of $PUMP tokens, around ~36% of the circulating supply, as a gesture of trust for the community.

The burn occurred today at 20:52 UTC across 2 transactions. View the burn transactions here:

solscan.io/tx/5yc86uJeUco…

solscan.io/tx/3yXmFwbvspe…