StonkFun said it generated $1.0953 million on Sept. 24 and spent $672,362 to buy and burn 2.05 million STONK tokens, bringing cumulative burns to 18% of total supply. The move is part of a broader crypto buyback-and-burn trend that has driven sharp gains in STONK and other launchpad tokens. Pons, a blockchain-based launchpad linked to Robinhood’s blockchain, uses 80% of fees to repurchase and burn PONS, while Pump.fun allocates about half of its revenue to buying and burning PUMP. Financial Times analysis of Alium Labs data found crypto companies spent a record $638 million on token buybacks from January through August. The model is attracting investors but carries risks because token holders generally lack equity rights and buybacks depend on sustained trading activity and platform revenue. Data from Bitquery showed 66.8% of wallets holding coins created on Pons lost value during the period studied, even as creators earned $9.7 million in fees. Separately, Backpack’s BP token reached a record above $1.27, gaining about 48% in 24 hours.