Pump.fun (PUMP), a Solana (SOL)-based memecoin issuance platform, announced that it is changing its strategy of allocating 100% of its protocol net profit to PUMP token buybacks, reducing the buyback allocation to 50%. Pump.fun explained, "Over the past 9 months, we have bought back approximately $370 million worth of PUMP and burned it all. This accounts for 36% of the PUMP circulating supply. For the next year, 50% of the protocol's revenue will be allocated to a smart contract-based automatic buyback and burning program, and the remaining 50% will be used for company operations such as product development, recruitment, marketing, and potential mergers and acquisitions."
