SunPump Adopts New 100% On-Chain Buyback and Burn Strategy

Justin Sun, the founder of Tron, has revealed a major change for the SunPump meme token.

The community has opted to adopt a new strategy of a 100% on-chain buyback and burn process, moving away from the earlier plan of burning liquidity pool (LP) tokens.

In a recent update on X, Sun highlighted that the shift comes in response to community feedback and a lack of understanding about LP token burning, which had led to confusion. The original idea was inspired by practices seen in popular memecoins like Shiba Inu, which aimed to enhance token liquidity.

Sun emphasized that the new approach, starting September 3, will involve a transparent and straightforward buyback and burn method. This process will ensure that all transactions are recorded on-chain, providing clear, immutable records without the need for additional explanations.

This method is similar to strategies used by other crypto entities, such as Binance, which conducts buybacks and burns of its BNB token from its profits.

Additionally, SunPump has surpassed its Solana-based predecessor, Pump.fun, in terms of daily revenue and activity. According to blockchain researcher Adam, SunPump saw 7,351 new tokens created and $585,000 in revenue over a 24-hour period, outperforming Pump.fun’s 6,701 tokens and $366,000 in revenue.