The PUMP token and its buybacks

PUMP is the token pump.fun issued in July 2025. Its main published mechanism is a buyback and burn: pump.fun says it spends half of what it earns buying PUMP on the open market and destroying it.

This page explains the mechanism and reconciles the numbers. It is independent and unofficial, and it says nothing about PUMP’s price or where it might go. Like most crypto tokens, PUMP can lose most of its value.

What PUMP is

• Sale: a public sale opened on 12 July 2025 at $0.004 per token and sold out in about 12 minutes. The Block reported the public raise at $600M, correcting an earlier $500M figure taken from the on-chain dashboard.
• Supply: 1,000,000,000,000 (1T) tokens at launch. On 4 November 2026 the on-chain supply of the PUMP mint (pumpCmXq…Dfn) was 824,337,038,029, read through public Solana RPC.
• What it gives you: pump.fun’s PUMP page describes the buyback and nothing else. We found no published right to revenue, dividends or governance.

How the buyback works

pump.fun’s PUMP page says: “Half of every dollar Pump.fun earns buys $PUMP on the open market, then burns it forever.” Its weekly newsletter (written by Baton Corporation “for the Pump Foundation”, on the same page) adds that 50% of net fees go to “programmatic $PUMP buybacks and burns via a locked smart contract”. Since 9 September 2026, 50% of custom-pair revenue goes to the buyback too.

The page lists every daily burn. For 5 to 11 October 2026 it shows between $0.93M and $1.30M a day, about 50% of that day’s revenue, and $7.93M for the week.

Two things are outside the program’s published numbers:

• Mayhem Mode fees. pump.fun’s docs say protocol fees from Mayhem coins go to an insurance fund and aren’t tracked on fees.pump.fun.
• Custom pairs. The PUMP page itself warns: “Since the introduction of the custom pairs, the fee dashboard does not correctly reflect the revenue and buyback amount. This will be fixed soon.”

Reconciling the three buyback totals

Three totals circulate. They come from two different counts taken on different dates, plus one relay we couldn’t verify:

Total	Source	Date	Status
$463.7M	DefiLlama, holders revenue for Pump, all-time	to 3 Nov 2026	Verified via the DefiLlama API
$482.29M (171.19B PUMP burned)	pump.fun’s PUMP page	data to 11 Oct 2026	Verified (archive copy), with pump.fun’s own accuracy warning
$499.8M	Secondary sites relaying an X post	about 3 Nov 2026	Unverified: we couldn’t find the original

Lining the counts up on the same dates shows where they split:

Date	pump.fun’s own count	DefiLlama	Gap
4 Oct 2026	$465M (newsletter #14)	$437.5M	$27.5M
11 Oct 2026	$482.29M (page headline)	$445.2M	$37.1M
3 Nov 2026	not published (archive has no later copy)	$463.7M	—

What this tells us:

1. Day to day, the two agree. For 5 to 11 October, DefiLlama’s series rose $7.65M and pump.fun’s own daily table summed to $7.93M.
2. pump.fun’s headline runs ahead of its own table. Its newsletter total of $465M at 4 October plus that week’s $7.93M of burns gives about $473M, not the $482.29M headline. That roughly $9M jump fits pump.fun’s own warning that the dashboard has been wrong since custom pairs.
3. There is a standing offset of about $27M. Even before that jump, pump.fun’s count was $27.5M above DefiLlama’s. DefiLlama’s series starts on 15 July 2025 with a $16.1M day; the rest of the offset we can’t attribute.
4. The $499.8M figure fits pump.fun’s higher count. DefiLlama’s $463.7M plus the $37M gap at 11 October is about $500M. That’s consistent with the relayed figure coming from pump.fun’s dashboard, but it is not confirmation.

The token count is the firmest number. pump.fun’s page counted 171.19B PUMP burned by 11 October 2026. The daily table shows about 165M–200M burned a day; at that pace the next 24 days add roughly 4–5B, which matches the on-chain supply falling to 824.3B (175.7B below 1T) on 4 November. Whatever the dollar total, the tokens are verifiably gone. This assumes the full 1T was minted at launch and that the supply has only fallen through burns.

For the running series, see our datasets.

What the buyback does not mean

• It isn’t a promise. pump.fun can change its revenue split; the program depends on pump.fun’s revenue, which DefiLlama shows swinging widely month to month.
• Revenue comes from traders. The money for buybacks comes from the fees paid on the bonding curve, PumpSwap and the app, including the Platform Fee.
• No price talk here. A buyback reduces supply; it doesn’t fix the price. We don’t predict prices, and nothing on this page is a reason to buy PUMP.