Lead · Project Wiki
Buyback-and-burn is half the supply equation -- the other half is new supply. Looking at only half means seeing only half the story.
William Zhang
·
July 30, 2026
Buyback-and-burn is often packaged into a simple narrative: a protocol earns revenue, repurchases its token, burns it, supply shrinks, price should rise. That chain of logic sounds intuitive, but 2025's actual data tells a more complicated story -- crypto protocols spent over $1.4 billion combined on buyback programs, yet among tokens with an active buyback mechanism, only about 30%...