SunPump is making headlines with its new strategy to boost its token value. On September 3, the platform announced it would adopt a 100% on-chain buyback and burn process, moving away from the previous plan of burning liquidity pool (LP) tokens.
This change is a direct response to community feedback and confusion over LP token burning, a method originally inspired by popular memecoins like Shiba Inu.
In a recent X update, Sun explained that the new approach aims to simplify and clarify the process. All transactions will now be recorded on-chain, creating a transparent and immutable record. This shift ensures that the buyback and burn activities are easy to track, without the need for extra explanations.
SunPump’s new method is similar to strategies used by major crypto players like Binance, which buys back and burns its BNB tokens from its profits.
Additionally, SunPump is surpassing its Solana-based predecessor, Pump.fun, in both daily revenue and activity. Blockchain researcher Adam reported that in just 24 hours, SunPump created 7,351 new tokens and generated $585,000 in revenue. This significantly outperformed Pump.fun, which saw 6,701 tokens created and $366,000 in revenue.
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