Could pump.fun launch its own Axiom competitor?
The post Could pump.fun launch its own Axiom competitor? appeared on BitcoinEthereumNews.com. This is a segment from the Empire newsletter. To read full editions, subscribe. Apparently, pump.fun’s making buybacks already, just days after the PUMP ICO. Mind you, the pump team has not publicly confirmed the buybacks, though they did leave us a rather cheeky post on X just after onchain analysts noticed that a wallet tied to pump.fun was making buybacks. The buybacks are perhaps not surprising, given that we reported that pump planned a 25% revenue share with token holders. “I think the big question on the buyback is, can the thing keep generating enough revenue to do a buyback in size? You know, Bonk really attacked pump at the right time, and did a really good job. And now it’s on pump to reclaim a lot of those lost volumes. I think that they have the tools to do it, [but] I think perhaps that’s keeping some people on the sidelines, just like the whole Bonk volume flip,” Blockworks Research’s Ryan Connor told me. In a note to Blockworks Research subscribers last week, Connor also wrote that his team heard buybacks will be “discretionary and programmatic.” Additionally, they fit a need in the market for value capture. “Modern crypto markets are increasingly wary of low float/high FDV and weak value capture for project tokens,” he noted. For Connor, the private round showed that crypto may be an ideological market, but it’s not as important nowadays. He told me that, of the $700 million raised in the private round, $100 million of that came from a single check, which shows the amount of weight behind pump. “If this thing continues to print … if they double revenues over the next 12 months, or if they 5x revenues over the next 12 months, that’s all that matters, because the capital [allocators]…
The post Could pump.fun launch its own Axiom competitor? appeared on BitcoinEthereumNews.com.
This is a segment from the Empire newsletter. To read full editions, subscribe. Apparently, pump.fun’s making buybacks already, just days after the PUMP ICO. Mind you, the pump team has not publicly confirmed the buybacks, though they did leave us a rather cheeky post on X just after onchain analysts noticed that a wallet tied to pump.fun was making buybacks. The buybacks are perhaps not surprising, given that we reported that pump planned a 25% revenue share with token holders. “I think the big question on the buyback is, can the thing keep generating enough revenue to do a buyback in size? You know, Bonk really attacked pump at the right time, and did a really good job. And now it’s on pump to reclaim a lot of those lost volumes. I think that they have the tools to do it, [but] I think perhaps that’s keeping some people on the sidelines, just like the whole Bonk volume flip,” Blockworks Research’s Ryan Connor told me. In a note to Blockworks Research subscribers last week, Connor also wrote that his team heard buybacks will be “discretionary and programmatic.” Additionally, they fit a need in the market for value capture. “Modern crypto markets are increasingly wary of low float/high FDV and weak value capture for project tokens,” he noted. For Connor, the private round showed that crypto may be an ideological market, but it’s not as important nowadays. He told me that, of the $700 million raised in the private round, $100 million of that came from a single check, which shows the amount of weight behind pump. “If this thing continues to print … if they double revenues over the next 12 months, or if they 5x revenues over the next 12 months, that’s all that matters, because the capital [allocators]…
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