Pump.fun has been allocating 100% of protocol revenue toward token buybacks for several months now. The move reflects a distinct strategy compared to other platforms in the space. Some competitors like Believe operate as prediction markets, while others such as GP maintain a more conservative 20% buyback ratio. This aggressive buyback approach raises questions about sustainability and community incentives. The protocol's governance model represents a shift from its earlier phases, addressing past criticisms. Whether this aggressive capital allocation strategy proves effective depends on market conditions and long-term token holder sentiment.