PANews April 29 news, Pump.fun announced on the X platform that it has destroyed all previously repurchased PUMP tokens, valued at approximately $370 million, accounting for about 36% of the circulating supply. At the same time, Pump.fun has launched a one-year programmed buyback and destruction plan, using 50% of future revenue for purchasing PUMP tokens in the open market and immediately destroying them. The buyback and destruction are automatically executed through an irreversible locked smart contract. Pump.fun stated that for about 9 months prior, the platform had used 100% of its revenue for buybacks, but community trust had diminished due to a lack of transparency. After this adjustment, the remaining 50% of revenue will be allocated for operations, growth, and strategic investments, including recruitment, new product development, and marketing, with the goal of ensuring Pump.fun's long-term sustainable operation.

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