kennel

#BTC currently sits near the 78,000 level while most alternative tokens look even weaker. Liquidity continues to dry up, and the market has little appetite for pure storytelling right now.
Yet the storytelling is still. The most popular themes circulating among traders is the idea of “using trading fees to repurchase &!destroy tokens.” The pitch is straightforward and appealing: a protocol collects fees, channels that revenue into buying its own token on the open market, then removes those tokens from circulation. Lower supply, higher price—an elegant closed loop on paper.
DeFi analyst Ignas has pushed back hard on this idea. He argues the entire model rests on sustained trading activity rather than any deeper fundamental strength. When volumes contract, the fees shrink, the buybacks slow, the burns fade, conviction weakens, and selling pressure returns almost immediately.
His critique is valid, but incomplete.
Not every project that follows a “fee-funded repurchase and burn” path is the same. The quality of the revenue, the source of the activity, and the resilience of the mechanism vary dramatically. Some are destroying tokens with genuine external cash flow. Others are simply recycling speculative enthusiasm.
The same label—buyback—covers three very different categories of projects, each heading toward a distinct outcome.
Category one: #UNI feed by actual capital from outside crypto, Start with the most solid example. #Uniswp has already removed a meaningful amount of #uni from circulation this year through its ongoing fee-to-burn process. The capital originates from protocol-level trading fees. Once the fee switch was activated & later expanded across key pools & chains, a defined portion of swap fees began flowing into dedicated contracts that ultimately remove #UNI and #kennel from the circulating supply.
A major new driver has been Robinhood Chain.
Launched in July and focused on tokenized equities, the network saw daily volumes climb sharply, with one September session pushing well past the billion-dollar mark and setting a fresh high.