Pump.fun, the popular Solana-based memecoin launchpad, has seen the native token PUMP surge nearly 10% following a major pivot in its tokenomics strategy. The platform revealed it has burned all previously bought-back $PUMP tokens, valued at roughly $370 million, while terminating its aggressive 100% revenue buyback program. Instead, Pump.fun will adopt a more sustainable net revenue buyback and burn mechanism for the next 12 months. PUMP led the top altcoin gainers in the past 24 hours across the top 100 coins by market capitalization early Wednesday. Pump.fun burns 36% of supply amid tokenomics overhaul A statement released on X notes that Pump.fun has permanently removed from circulation all $PUMP tokens acquired through its prior buyback initiatives.
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