Pump.fun Burns $370 Million in Tokens, Launches 50% Revenue Buyback Plan

Pump.fun, a meme-coin launchpad that has recently drawn significant attention in Web3, has attracted substantial capital and user interest with its distinctive token issuance model. Its tokenomics now face a critical test, as the value of its token and the health of its ecosystem will directly affect decentralized finance market confidence in such high-risk projects. The outcome will also be an important gauge of whether emerging Web3 protocols can survive over the long term.

Pump.fun is set for its first unlock of 82.5 billion PUMP tokens in July 2026, potentially creating about $125 million in selling pressure and directly testing the market's capacity to absorb the supply. At the same time, the platform said it would cut its buyback ratio to 50% from 100%, significantly reducing buying support. Without a strong mechanism to absorb supply, the token's outlook has raised serious concerns among the community and investors.