PANews reported on April 1 that according to the PumpBTC announcement, its newly launched governance token PUMP will serve as the core of the BTCFi ecosystem, enabling governance, staking rewards and fee discounts. The total supply of PUMP is 1 billion, 38% of which is allocated to the community ecosystem, 9% for initial claims, and 5% for ID0. The project adopts the ve-token mechanism, and users can obtain vePUMP in the form of NFT by locking PUMP to participate in governance and revenue sharing. 30% of the protocol revenue will be used for repurchase and destruction, and 70% will be allocated to vePUMP holders.