Pump.fun to cut token buyback allocation from 100% to 50% of revenue

Solana-based memecoin issuance platform Pump.fun (PUMP) has announced a change to its strategy, reducing the portion of net protocol revenue allocated to PUMP token buybacks from 100% to 50%. The platform stated that over the past nine months, it has bought back and burned approximately $370 million worth of PUMP, which accounts for 36% of the token's circulating supply. For the next year, 50% of protocol revenue will be directed to an automated buyback and burn program based on smart contracts. The remaining 50% will be used for company operations, including product development, hiring, marketing, and potential mergers and acquisitions.