PUMP · the burn is behind it, a giant unlock is ahead.

PUMP has a fixed one-trillion supply cap and no staking or block mint, so the protocol never creates new coins on its own.

The first large lockup expires Jul 12 2026, releasing about 82.5B PUMP in a single cliff to early investors and ecosystem partners — close to a fifth of today's circulating supply landing at once. This is the biggest supply event in the window.

Large locked allocations remain — team about 20% of supply, community and ecosystem about 24%, investors about 13% — but they release on the vesting calendar, not at will; the Jul 12 2026 cliff is booked under vesting above. No unscheduled release observed — monitored.

No bankruptcy estate or court-ordered distribution applies to PUMP.

Since late April 2026, half of all platform revenue is spent buying PUMP on the open market and burning it, locked into a one-year contract that runs without team discretion — about 18B coins over the next 90 days at the current, lower revenue. A one-time burn of ~127.3B (the prior nine months of buybacks) was destroyed on Apr 29 2026, inside the last window.

There is no separate base-fee burn — the revenue-funded buyback is the only burn, and it is already counted above.

No discretionary open-market buying outside the published revenue buyback — monitored.

No new multi-year lock or escrow announced in the window — monitored.