A counterintuitive question: when a project spends money to buy back its own token, is it really bullish, or is it just providing exit liquidity for retail holders?
$PYTH surged 12% today, reaching 0.084. The catalyst was DAO approval of OP-PIP-136 — from now on, every dollar the product earns will be used 100% to buy $PYTH on the market and add it to the reserve fund. The oracle business has reached $11.5 million in ARR, so the revenue is real.
But let’s stay calm: $PYTH has fallen all the way from its high of 1.16 to now, wiping out 92%. The amount of buybacks over a year is just a drop in the bucket compared with the 2.1 billion tokens that will still be unlocked by May 2027.
So what do you think of the buyback story: is it a faith boost, or just a carrot for bags that are already down 90%? Let’s argue in the comments.
$PYTH #预言机 #buyback
$PYTH surged 12% today, reaching 0.084. The catalyst was DAO approval of OP-PIP-136 — from now on, every dollar the product earns will be used 100% to buy $PYTH on the market and add it to the reserve fund. The oracle business has reached $11.5 million in ARR, so the revenue is real.
But let’s stay calm: $PYTH has fallen all the way from its high of 1.16 to now, wiping out 92%. The amount of buybacks over a year is just a drop in the bucket compared with the 2.1 billion tokens that will still be unlocked by May 2027.
So what do you think of the buyback story: is it a faith boost, or just a carrot for bags that are already down 90%? Let’s argue in the comments.
$PYTH #预言机 #buyback