比特币橙子Trader
比特币橙子Trader|Sep 21, 2026 17:37
FORM finally started its buyback, but after checking Four's revenue, I’m kind of losing it. This time, the official announcement says they’ll buy back and burn 408,601.81 FORM tokens, and they’ll continue using platform profits for buybacks in the future. The question is: how much profit does the platform even have now? According to the latest data from DefiLlama, Four’s 24-hour fees are down to just about $4,800, and over the past 30 days, it’s around $236,000. A platform that once raked in nearly $100 million in cumulative fees is now making less in a day than what many small projects spend on a single marketing campaign. Back in 2025, during the craziest BNB Meme hype, Four saw massive traffic and managed to hit protocol revenue of around $54.24 million in Q4 2025. Fast forward to now, http://Pump.fun and Flap launchpads are still making money, but Four’s revenue has basically dropped by two orders of magnitude. When they were making the most money, they didn’t bother with buybacks. Now that the platform’s revenue is almost flatlining, they finally remembered to do buybacks. No wonder so many people got wrecked along the way.
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