Only a few DeFi projects do buybacks that exceed their token emissions. In the past 90 days: 1. @HyperliquidX • Bought back $135M worth of HYPE • $64M HYPE was unlocked for its team 2. @chainlink • Bought back $15M worth of LINK • No LINK tokens were unlocked 3. @Uniswap • Bought back $11.9M worth of UNI • No UNI tokens were unlocked 4. @Lighter_xyz • Bought back $6.4M worth of LIT • No LIT tokens were unlocked (its unlocks start 1 year after TGE) 5. @JupiterExchange • Bought back $5.7M worth of JUP • No JUP tokens were unlocked (Jupiter passed a proposal to pause its token emissions) 6. @SkyMoney • Bought back $3.3M worth of SKY • No SKY tokens were unlocked (all its supply is already in circulation) 7. @Raydium • Bought back $3M worth of RAY • No RAY tokens were unlocked Hyperliquid clearly dominates in terms of buybacks. But what's great to see is that more and more projects have started to allocate a good chunk of their revenue to token buybacks. DeFi is significantly more sustainable now than it was a few years ago.(The DeFi Investor 🔎)