SunPump has unveiled a significant shift in its strategy, moving to a 100% on-chain buyback and burn approach in a bid to enhance the value of its tokens. The platform announced this change on September 3, abandoning its previous method of burning liquidity pool (LP) tokens—a practice borrowed from popular memecoins like Shiba Inu.
The decision comes in response to community feedback, which highlighted confusion surrounding the LP token burning process. In an effort to address these concerns, SunPump has opted for a more straightforward and transparent approach. By conducting all buyback and burn activities on-chain, SunPump ensures that every transaction is publicly recorded, providing an immutable and easily trackable history without the need for complex explanations.
This strategy mirrors those employed by major players in the crypto space, such as Binance, which regularly buys back and burns its BNB tokens using profits from its operations.
SunPump’s revamped approach is already yielding impressive results. According to blockchain researcher Adam, in a 24-hour period, SunPump generated 7,351 new tokens and brought in $585,000 in revenue. This performance significantly outpaces its Solana-based competitor, Pump.fun, which produced 6,701 tokens and earned $366,000 in the same timeframe.
With this shift, SunPump is not only simplifying its processes but also establishing itself as a formidable force in the crypto market, surpassing its predecessors in both revenue generation and activity.
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