PumpFun has announced the destruction of all previously repurchased PUMP tokens, valued at approximately $370 million and representing about 36% of the circulating supply. This move aims to address market concerns regarding the purpose and sustainability of their buyback strategy. Additionally, PumpFun plans to allocate 50% of its revenue over the next year to programmatic buybacks and token destruction, aiming to reduce circulating supply and enhance the certainty of its mechanisms. This strategic adjustment follows nine months of high-revenue operations and seeks to bolster market trust.