The Solana launchpad’s repurchases since July now exceed $400M, yet PUMP trades roughly 83% below its record and is little changed on the day
Pump.fun, the Solana-based memecoin launchpad that has generated more than $1.1 billion in lifetime fees, has repurchased over $400 million of its PUMP token, with the running total crossing that mark in recent days, according to the company’s onchain dashboard.
The tracker showed cumulative buybacks of about $400.9 million as of Monday afternoon, covering roughly 145.5 billion PUMP acquired over 346 days. Pump.fun burns every repurchased token immediately under the policy it adopted in April, so the running buyback total now closely tracks the amount of PUMP permanently removed from circulation.
The milestone tests the central premise of Pump.fun’s tokenomics: that steady, revenue-funded buying and burning will tie PUMP’s value to the platform’s cash flows. So far, the supply cuts have not lifted the price.
PUMP edged up about 1% in the 24 hours through Monday, matching Bitcoin’s gain, according to CoinGecko. The token has fallen about 16% over the past 30 days and trades roughly 83% below its record of about $0.0088, set in September.
Revenue Directed at Repurchases
Pump.fun started buying back PUMP in July 2025 and initially directed all revenue toward repurchases. In late April, the company burned about $370 million of accumulated tokens, roughly 36% of the circulating supply at the time, and switched to a programmatic model.
The platform now routes 50% of net revenue from its bonding curve, PumpSwap and Terminal products into an irreversible smart contract that buys PUMP on the open market and burns it. The Defiant reported the change at the time. The remaining revenue funds operations, hiring and acquisitions.
The platform has produced about $1.13 billion in fees and $1.05 billion in revenue since launching in January 2024, according to DefiLlama. Fee generation has cooled alongside the broader memecoin market, totaling about $23.5 million over the past 30 days.
