Pump.fun appears to initiate PUMP token buybacks using platform fees: onchain analysts

Pump.fun, a Solana‑based meme‑coin launchpad, appears to have started a multimillion‑dollar buyback of its PUMP token, deploying platform fee revenue to soak up nearly three billion tokens less than a week after the coin’s volatile public debut.

Onchain data from Solscan shows the project transferred 187,770 SOL — an estimated $31.3 million — to a dedicated buyback wallet late on Tuesday. Of that, 118,351 SOL, or roughly $19.3 million, has already been spent to repurchase about 2.99 billion PUMP at an average price of $0.0064 each, according to Lookonchain.

Previously, The Block reported that Pump.fun was mulling sharing protocol revenue with token holders. Blockchain research firm Delphi Digital estimated that the platform could allocate up to 25% of fee income to daily token repurchases for this revenue-sharing mechanism.

“Assuming Pump commits to using 25% of their current revenue from both launchpad and AMM operations, token holders would receive $0.369 million in daily $PUMP buying pressure, or $134.6 million annually,” Delphi Digital researchers wrote in a July 10 report.

News of the buyback sent PUMP as high as 17% on Tuesday, to around $0.0067, up from its initial $0.004 coin offering price. The public sale last weekend raised about $600 million in 12 minutes and initially valued the token at roughly $4 billion fully diluted valuation. PUMP had a $2.4 billion market cap and a $6.7 billion FDV as of writing, The Block’s price page shows.

Pump.fun’s token ICO and buyback program follow increased competition in the memecoin launchpad market. Rival platform LetsBonk recently launched to much fanfare, beating the popular Solana incumbent in daily fees and token graduations, according to The Block’s data dashboard.

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