This year exposed the truth: Buybacks only work when the numbers are real. $1.4𝘉 𝘩𝘢𝘴 𝘣𝘦𝘦𝘯 𝘴𝘱𝘦𝘯𝘵 𝘴𝘰 𝘧𝘢𝘳, 𝘣𝘶𝘵 𝘰𝘯𝘭𝘺 𝘢 𝘧𝘦𝘸 𝘱𝘳𝘰𝘵𝘰𝘤𝘰𝘭𝘴 𝘵𝘶𝘳𝘯𝘦𝘥 𝘵𝘩𝘢𝘵 𝘪𝘯𝘵𝘰 𝘢𝘤𝘵𝘶𝘢𝘭 𝘷𝘢𝘭𝘶𝘦. In crypto, cashflow isn’t just king, it’s the whole kingdom.👇 --------------------------------------------- Projects have spent a combined $145.93 million on average each month on token buybacks this year. But, 𝐖𝐡𝐲 𝐝𝐨 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬 𝐝𝐨 𝐛𝐮𝐲𝐛𝐚𝐜𝐤𝐬? ➢By removing tokens from circulation either via burns or locking, buybacks can create scarcity, potentially supporting or stabilizing price. ➢Revenue is used for buybacks, which reduces the token supply and gives holders a clearer connection between the protocol’s cash flow and the token’s value. ➢Some protocols accumulate tokens to use later for growth, incentives, liquidity, or strategic initiatives. ➢Repurchased tokens can be used for staking rewards or other incentives, encouraging user engagement and long-term holding. 𝐓𝐡𝐞 𝐏𝐫𝐨𝐣𝐞𝐜𝐭𝐬 𝐝𝐨𝐢𝐧𝐠 𝐛𝐮𝐲𝐛𝐚𝐜𝐤𝐬: --------------------------------------------- ➢ @HyperliquidX (HYPE) has spent $644.6 million this year to repurchase 21.36 M HYPE which accounts for 2.1% of supply averaging $65.5 M per month. HYPE token buybacks have averaged $65.50 million a month in revenue spending, ranging from as low as $39.14 million in March, to as high as $110.62 million in August. The average HYPE buyback price is around $30.18 so far. The sheer scale and consistency created persistent buy pressure, compressed float, and indicates a revenue-backed tokenomics. HYPE became the poster-child of the buyback system. --------------------------------------------- ➢ @Pumpfun (PUMP) has spent $138M to repurchase its token, $PUMP, since July this year which equals 3% of supply, the recurring buybacks are supported by platform revenues. Pumpfun has spent an average of $40.47 million per month to repurchase PUMP. They converted their memecoin launchpad fees into recurring buys, They turned speculative hype into a recurring supply sink which helped stabilize price and reduced circulating supply during volatile periods. --------------------------------------------- ➢ @LayerZero_Core (ZRO) did a one-off $150M buyback to repurchase 5% of total ZRO supply from early investors. This massive buyback removed a meaningful chunk of supply at once which in turn stabilized price, reducing potential selling pressure from early investors and signalling long-term alignment. --------------------------------------------- ➢ @Raydium (RAY) is a Solana DEX and it leads as the project with the largest token buyback-and-burn spending of $100.35 million. Unlike the top three token buybacks which were only implemented this year, the programmatic RAY token buybacks have been in place since 2022. By funneling DEX fee revenue into buybacks and burns, Raydium helped support scarcity, improved staking/yield mechanics, and aligned token supply with actual usage. --------------------------------------------- ➢ @SkyEcosystem (SKY) since its launch in February, Sky Protocol's programmatic token buybacks have accumulated 5.4% of total supply using $78.82 million in surplus revenue YTD, This makes it the third highest share of supply that has been repurchased. SKY token buybacks have seen spending fluctuate between $2.96 million and $18.31 million a month, averaging $9.68 million --------------------------------------------- While these projects above have enjoyed the buyback system and it has really help them thrived, there are some other projects who are also using this system but it hasn't really moved the needle for them ➢ @JupiterExchange (JUP)aAllocated 50% of protocol fees to buybacks starting Feb this year. Since then, they have spent $57.85M on tokens and have repurchased 117M $JUP which amounts to 1.68% of the circulating supply. Despite buybacks, JUP remained under pressure. Weak demand and tough conditions meant the supply sinks didn’t help much even big allocations couldn’t lift the price back up. --------------------------------------------- ➢ @jito (JTO) completed an initial $1M buyback in late Q3 which was executed and the DAO has moved to allocate protocol revenue toward continued repurchases, Jito has since then 520k of the JTO supply which equals to 0.05% of the supply Even though they did this, $JTO remained under pressure in several windows. Market commentary concluded that the buyback size was too small relative to float/liquidity to create a durable price floor. It was therefore perceived as necessary signaling but insufficient to reverse the downtrend by itself. --------------------------------------------- ➢ @aave (AAVE) Aave’s DAO approved a $50M annual buyback program. This is a large, revenue-backed commitment that improved long-term framing for AAVE holders. However, price action remained correlated to macro factors like ETH correlation, lending market cycles, and the program, while constructive for capital allocation, it did not shield AAVE from broader market drawdowns. --------------------------------------------- ➢ @ether_fi (ETHFI) has a new proposal recently authorizing up to $50M from treasury to buy back ETHFI if price goes below $3 As a newly approved plan, no significant on-chain evidence yet of execution so the market hasn’t rewarded it. Demonstrates that intent alone isn't equal to impact, executions matter a lot. --------------------------------------------- 𝐖𝐡𝐚𝐭 𝐭𝐡𝐢𝐬 𝐬𝐡𝐨𝐰𝐬 𝐚𝐧𝐝 𝐰𝐡𝐚𝐭 𝐭𝐨 𝐰𝐚𝐭𝐜𝐡 𝐠𝐨𝐢𝐧𝐠 𝐟𝐨𝐫𝐰𝐚𝐫𝐝 ➢ Small buybacks rarely move the supply curve. Protocols that spent tens or hundreds of millions (like Hyperliquid, Pumpfun, LayerZero) showed real results. ➢ Consistency matters more than headlines . A one-off $150M buyback like ZRO can shift supply but only recurring, revenue-backed buybacks build long-term credibility. ➢ Even aggressive buybacks can have limited effect if token supply is huge, liquidity deep, or demand weak. ➢ Programs with public dashboards or verified on-chain buys like Hyperliquid and the EtherFi proposal build trust but the market values action, not just promises. ➢ When combined with real product usage, token utility, and growth, buybacks amplify value. Alone, they risk being just PR theatre. --------------------------------------------- 𝐂𝐨𝐧𝐜𝐥𝐮𝐬𝐢𝐨𝐧: 𝘛𝘩𝘪𝘴 𝘺𝘦𝘢𝘳 𝘱𝘳𝘰𝘷𝘦𝘥 𝘰𝘯𝘦 𝘴𝘪𝘮𝘱𝘭𝘦 𝘵𝘳𝘶𝘵𝘩: 𝘣𝘶𝘺𝘣𝘢𝘤𝘬𝘴 𝘰𝘯𝘭𝘺 𝘮𝘢𝘵𝘵𝘦𝘳 𝘸𝘩𝘦𝘯 𝘵𝘩𝘦 𝘧𝘶𝘯𝘥𝘢𝘮𝘦𝘯𝘵𝘢𝘭𝘴 𝘢𝘳𝘦 𝘳𝘦𝘢𝘭. 𝘛𝘩𝘦 𝘱𝘳𝘰𝘵𝘰𝘤𝘰𝘭𝘴 𝘸𝘪𝘵𝘩 𝘴𝘶𝘴𝘵𝘢𝘪𝘯𝘦𝘥, 𝘳𝘦𝘷𝘦𝘯𝘶𝘦-𝘣𝘢𝘤𝘬𝘦𝘥 𝘣𝘶𝘺𝘴 𝘴𝘢𝘸 𝘳𝘦𝘴𝘶𝘭𝘵𝘴; 𝘵𝘩𝘦 𝘰𝘯𝘦𝘴 𝘳𝘦𝘭𝘺𝘪𝘯𝘨 𝘰𝘯 𝘴𝘮𝘢𝘭𝘭 𝘰𝘳 𝘴𝘺𝘮𝘣𝘰𝘭𝘪𝘤 𝘣𝘶𝘺𝘣𝘢𝘤𝘬𝘴 𝘥𝘪𝘥𝘯’𝘵 𝘮𝘰𝘷𝘦 𝘵𝘩𝘦 𝘮𝘢𝘳𝘬𝘦𝘵. 𝘎𝘰𝘪𝘯𝘨 𝘧𝘰𝘳𝘸𝘢𝘳𝘥, 𝘵𝘩𝘦 𝘰𝘯𝘭𝘺 𝘣𝘶𝘺𝘣𝘢𝘤𝘬𝘴 𝘵𝘩𝘢𝘵 𝘤𝘰𝘶𝘯𝘵 𝘢𝘳𝘦 𝘵𝘩𝘦 𝘰𝘯𝘦𝘴 𝘱𝘢𝘪𝘳𝘦𝘥 𝘸𝘪𝘵𝘩 𝘳𝘦𝘢𝘭 𝘥𝘦𝘮𝘢𝘯𝘥, 𝘳𝘦𝘢𝘭 𝘶𝘴𝘢𝘨𝘦, 𝘢𝘯𝘥 𝘳𝘦𝘢𝘭 𝘦𝘹𝘦𝘤𝘶𝘵𝘪𝘰𝘯. 𝘌𝘷𝘦𝘳𝘺𝘵𝘩𝘪𝘯𝘨 𝘦𝘭𝘴𝘦 𝘪𝘴 𝘯𝘰𝘪𝘴𝘦. Your thoughs?

2026 is the year of RWA and tokenization @BlackRock and @Securitize just announced huge news. they are really putting more investment strategies onchain. ➢ BlackRock launched 3 portfolio strategies through Ondo. ➢ The portfolios are live across 2 blockchain networks. ➢ Securitize is tokenizing ARKVX with a $500 minimum. ➢ ARKVX holds exposure to private and public companies. the interesting part is what gets tokenized. we are moving beyond individual stocks and treasuries. entire investment products are becoming onchain assets. ➥ @Securitize brings @ARKInvest's ARKVX onto Ethereum. Securitize is bringing ARK Venture Fund onchain through Ethereum. eligible investors can access the tokenized fund for $500. ARKVX combines exposure across: > private companies. > public companies. the portfolio includes OpenAI, Anthropic, Stripe, and Databricks. Tesla, SpaceX, Coinbase, and Tempus AI are also included. the fund spans AI, space, digital assets, and biotech. all that exposure sits inside one actively managed fund. the structure is even more interesting than the launch itself. one token can represent an entire investment strategy. you guys need to understand what's being done here. this system gives RWA exposure beyond tokenized stocks. ➥ @BlackRock's portfolio strategies BlackRock is now bringing its portfolio expertise onchain. 3 model portfolios were developed for @Ondo. they cover income, diversified growth, and high growth. Ondo then turned each strategy into one token. that means investors can hold a diversified allocation through one onchain asset. the holdings, weights, and portfolio rebalances are visible onchain. the tokens can also move across supported wallets and DeFi. RWA is really growing right before our eyes. tokenization is becoming more about investment strategies. ➥ The bigger RWA picture BlackRock is tokenizing portfolio strategies through Ondo. Securitize is tokenizing venture fund exposure through Ethereum. different products are moving through the same rails. that should tell you that the market is getting broader. RWAs are moving beyond treasuries, stocks and simple funds. entire investment products are starting to move onchain. the more products that move this way, the bigger RWAs become.

RWA on robinhood keeps expanding everyday. @Arvo_Protocol just launched its staking layer with @Virtuals_io. Check it out here: app.virtuals.io/virtuals/139… $ARVO sits at the center, it covers > participation > governance > ecosystem rewards. ARVO really fits Robinhood well because of its established business. this is a business that has partners and an experienced team behind it. the team brings a combined 45 years of experience to build this. a thriving real business and a team with good years of experience. it just doesn't get better than that. not to talk of the good amount of transaction volume that's being done already. really glad to see that Arvo is building on robinhood. this is the launch of the staking and governance layer. i believe we'll see more interesting actions from here.

the RWA side of @HyperliquidX is getting harder to ignore. RWAs accounted for just 1.8% of Hyperliquid's volume in Q4 last year. By Q2 this year, that number had jumped to 32%. that’s a massive shift in such a short period. but what interests me more is what gets built around this growing liquidity. take @DinariGlobal, for example. with dShares, Dinari is bringing SpaceX and the full S&P 500 onchain. personally, I think bringing the entire S&P 500 onchain is a big deal for the ecosystem. we’re talking about giving crypto traders access to an entirely new set of markets, from major public equities to private companies like SpaceX. and Hyperliquid already has something most new platforms struggle to build: trading activity and liquidity. now imagine what happens when you introduce entirely new asset classes to that existing ecosystem. more assets bring new trading opportunities, attract different types of traders, and potentially drive even more liquidity. this is exactly the kind of RWA adoption I've been looking forward to. not just tokenizing assets for the sake of it, but actually bringing them into ecosystems where people can trade and use them. Dinari is making an interesting move here, and I'm excited to see how this plays out.

DeFi crossed $88B in TVL TVLs are climbing, liquidity is moving, and protocols are still shipping. The opportunities right now are honestly hard to ignore.👇 ---------------------- ➢ @Trueo_ announced its migration from Base to Ethereum, with future prediction markets, staking and liquidity incentives planned around the Ethereum deployment. ---------------------- ➢ @Kamino launched a tGBP lending market on Solana, allowing users to supply the pound stablecoin or borrow it against USDC, cbBTC and JitoSOL, with @SteakhouseFi serving as curator. ---------------------- ➢ @ZestProtocol launched its Bitcoin Collateral Vault mainnet demo, allowing users to deposit native BTC on Bitcoin L1 and borrow USDC on Ethereum without wrapping or bridging their BTC. ---------------------- 𝐘𝐢𝐞𝐥𝐝 𝐅𝐚𝐫𝐦𝐢𝐧𝐠 𝐏𝐨𝐨𝐥𝐬 ➢ USDC-AERO vLP DApp: @beefyfinance Chain: @base APY: 23.85% Pool type: LP Vault TVL: $1.04M ➢ avUSDC DApp: @verantaxyz Chain: @base APY: 13.69% Pool type: USDC Yield Vault TVL: $9.78M ➢ hBTC DApp: @EmberProtocol Chain: @base APY: 10.93% Pool type: Bitcoin Yield Vault TVL: $15.65M ➢ GRAM–USDT DApp: @dedust_io Chain: @ton_blockchain APR: 9.65% Pool type: Liquidity Providing TVL: $557.09K ➢ YUSD DApp: @aegis_im Chain: @ethereum APR: 5.54% Pool type: Bitcoin-backed Stablecoin TVL: $35.1M ➢ gtUSDa DApp: @gauntlet_xyz Chain: @arbitrum APY: 4.83% Pool type: Stablecoin Yield Vault TVL: $52.1M ➢ USDT DApp: @EvaaProtocol Chain: @ton_blockchain APY: 3.72% Pool type: Lending TVL: $490.05K ➢ bsdETH DApp: @reserveprotocol Chain: @base APY: 2.23% Pool type: ETH LST Basket TVL: $1.14M ➢ ezETH DApp: @RenzoAI Chain: @ethereum APY: 2.15% Pool type: Restaking TVL: $120M Which did I miss? Lemme know in the comments 👇

imagine being able to earn stocks on your everyday spending. this reminds me of the curve wars mechanism from 2021. looks like @lobbycash is bringing a similar idea into its ecosystem. whenever i use the card, i earn cashback in stocks like AAPL, NVDA, and TSLA. this is rather than farming random points. the launch video really goes hard. they actually shot and edited the promo video without AI. seeing that level of intentionality around the launch shows the team might really cook. looking at their website, you'd see EtherFi and KAST being specially called. this might just be a tease for reward, priority access, or future benefit. overall, the curve wars, cashback stocks, and the card are really interesting combination. i believe we'll see more, i can't wait.

RWA perps are now sitting above $5B in open interest. that market barely existed a year ago. now stocks, ETFs, and pre-IPO names trade 24/7. the numbers are really looking good. ➢ $5B+ in open interest across RWA perps ➢ $1.02B traded after the September FOMC per @binance ➢ RWA perp OI grew from near-zero to $5B+ in under a year it feels good to see the works these protocols put in turning into fruition. you could say @HyperliquidX's HIP-3 is a major part of this expansion. @tradexyz and @felixprotocol are building on top of Hyperliquid, deploying RWA markets via HIP-3. @Ostium runs its own RWA perp venue outside the Hyperliquid ecosystem. this is a market that gives users access to these traditional assets onchain. the FOMC just showed why it is a great initiative. after September's decision, @binance's RWA-linked perps traded $1.02B while U.S. cash markets were closed. those perps captured 97% of the next U.S. market opening gap, across 16 tracked companies. that means the market was already pricing the move before stocks reopened. there so much news we've been seeing on RWA lately and it just gets interesting with everyone. stocks and ETFs are also getting their own always-on price layer. pre-IPO names are also getting exposure before traditional listings. $5B in open interest makes this much harder to dismiss. RWA perps are becoming a serious part of onchain markets.

Tokenized stocks are everywhere on the timeline lately. Meanwhile, tokenized assets on Mantle crossed 1,340, up from 71 year to date, per @blockworksres. A new all-time high, led by stocks. More of global capital markets, within your reach.

excited to share that I'm joining @DinariGlobal as an advisor. being based in Asia, this one hits close to home for me. for millions across Asian markets, getting exposure to US stocks is either impossible or buried in friction and gatekeeping. Dinari changes that. dShares are live in 85+ countries and each one is backed 1:1 by the real underlying share. not a synthetic. not a wrapped derivative. when you hold a dShare, there's an actual share locked in custody, with dividends, voting rights, and corporate actions preserved. real equities. Onchain. 24/7. this is what opening up global access to US markets actually looks like. excited to be part of it.

bro, I was looking for a way to turn $30k into a billion. Can't believe the opportunity just landed in my DMs.

cope. seethe. rage

Bitcoin Hard Fork: eCash Beta Is Live Bitcoin's biggest limitation has always been change itself. New functionality means years of soft fork debate, while L1 stays intentionally frozen to protect the monetary base. Drivechains (BIP 300/301) fix this: sidechains pegged to BTC, independent of L1. Succeed, and Bitcoin gains new utility and fee revenue. Fail, and L1 is untouched. eCash is the first real network built on this model, and Alpha proved it. Hashrate hit 9.44 PH/s, 7 independent pools mined blocks, and the community shipped a bunch of tools unprompted: 1/ pecx.shop / peesex.shop - first pECX↔BTC AMM, built in days 2/ szats.world - pECX faucet, hit by proxy farmers within hours 3/ explorer.alpha.ecash.ninja - the first block explorer 4/ eCashPool & NurseryPool - community mining pools, one paying out in Thunder on principle 5/ ecashmeter.com - drivechain fee tracker, flipped live weeks early 6/ The eCash Splitter - official coin-splitting tool, GUI + CLI, shipped mid-alpha New drivechains proposed. Blind merge mining tested live. Consensus bugs diagnosed by block height and root cause, faster than most funded eng teams manage. Beta is now live: ecash.com/join Beta improves the pECX burn rate 👉 1,000 pECX → 20 real ECX (up from 10 in Alpha) The pECX tokens are in addition, not instead of the original 1:1 airdrop. Every BTC holder still gets ECX 1:1 at full launch on October 31 regardless. Burning pECX now is a bonus on top of that, extra ECX for showing up early. Receiving and splitting: Hold BTC non-custodially at the fork block, you get equal ECX automatically, nothing moves or converts. eCash uses opt-in protection, not built-in, so every wallet and exchange keeps working on day one, but that means until you split, moving BTC could move your ECX too. Splitting is a one-time fix, three ways to do it, two are one-tap in official eCash software, the third uses standard Bitcoin tooling only. BTC on an exchange? You can't split yourself. We're in touch with exchanges about crediting ECX, or you can withdraw to self-custody before Oct 31 and split it yourself. 👉 ecash.com/join

3 chains added nearly $400M to tokenized stocks. tokenization is seeing some big growth. ➢ over 2,603 assets spread across 19 chains. ➢ active deployments have climbed above 20,500. ➢ monthly trading volume reached $7.9B in August. ➢ active equity market cap is up 314% this year. the interesting part is where this growth is happening. Robinhood Chain added $129.3M over the past month. BNB Chain added another $125.7M during the same period. X Layer followed closely with another $115.3M added. and that number tells me distribution is becoming important. ➥ @RobinhoodCrypto has been moving quickly around stock tokens. Robinhood launched with roughly 95 stock tokens earlier. the catalog has now grown beyond 190 stock tokens. plus doing this, there are protocols on robinhood that are making this growth easy. @Uniswap is deploying an AMM for robinhood liquidity, while Pleaidas is also building a dedicated AMM on there. @rialto_xyz, @Lighter_xyz, @arcus_xyz and @1inch support trading access. these stock tokens can also plug into lending markets. and we also saw memestocks get introduced recently. the growth is as a result of active works put into place. ➥ @BNBCHAIN has built an even larger equity market. BNB Chain now has more than 709 tokenized stocks. cumulative trading volume has also crossed $5B there. bStocks are helping drive the ecosystem's tokenized equity growth. @Ondo stocks now also offers 430+ stocks and ETFs there. xStocks has also expanded its tokenized equity presence. these stocks are also used as DeFi utility, as we see in @VenusProtocol and @lista_dao. that combination gives tokenized stocks more places to move. ➥ @XLayerOfficial has grown extremely quickly through xStocks. it had zero tokenized stocks just 3 months ago. by September, it reached roughly $91.5M market cap. the ecosystem also had 836 listed tokenized assets. @okx has since expanded its Unified Tokenized Stocks offering. xStocks can move directly across the X Layer ecosystem. @wallet also supports swapping and holding these assets. that makes the growth here particularly interesting right now. looking at these 3 chains, you'd notice how they utilize these stocks in different ways. that is how a sector grows. by making accessibility easy for users and also giving it to them in many ways. stocks are becoming usable inside the DeFi stack. lending, trading, and collateral are opening new possibilities. the market is no longer just creating digital representations. the infrastructure around those assets is expanding quickly. really good to see.

quickest way to destroy a reputation you spent years building: wear a Kalshi badge keep supporting their fake volume

Bro said this and actually saw "incredible intellect on display" from Beni.