A high buyback ratio sounds great. But where does the money actually come from?

That is where the revenue-to-buyback ratio becomes useful.

It measures how much of a project’s actual revenue is directed toward buying back and burning its own token.

Here is how several projects compare:

🔥 $ASTER: 99%
🟢 $HYPE: 97% to 99%
🔴 $GEOD: 80%
🔵 $JUP: 50%
🟢 $PUMP: 50%
🟣 $RAY: 12%

At first glance, $ASTER and $HYPE stand out because most of their revenue is allocated toward buybacks and burns.

But there is an important catch.

The ratio alone doesn’t tell you how strong the buyback actually is.

A project can allocate 99% of revenue to buybacks, but if revenue falls, the actual dollar amount going into the market can shrink too.

Meanwhile, a project with a lower percentage but much larger revenue could potentially generate larger buybacks in absolute terms.

So before calling any model a winner, I would check three things:

1. Is revenue actually growing?
2. Are the announced buybacks being executed on-chain?
3. Are burns keeping up with new token issuance?

The percentage is a useful starting filter.

The real test is whether actual revenue keeps flowing back into the token, consistently and on-chain.

Disclaimer: This is not financial advice. Please do your own research before making investment decisions.