Trading volume tells you how much activity is happening. But I think the more interesting question is what happens to the fees generated by that activity. That’s one reason I find the contrast between @Hypesium and @RebateLaunch interesting. Rebate Pad has a stated 0.7% platform fee, with fees from Robinhood Chain and Elysium intended to buy and burn $REBATE. Hypesium sits on a different part of the ecosystem. Its Telegram trading tools and Elysium launch discovery are designed to make finding and executing trades easier. So there are two different pieces at work. Hypesium can contribute to the trading and discovery layer, while Rebate has a mechanism that connects platform fees to $REBATE burns. The interesting part is that the latter can be followed onchain. But more activity doesn't automatically mean more token value. I'd want to verify a few things: • Are the stated fees consistently being collected? • Can the buybacks and burns be tracked onchain? • How much activity remains when incentives are reduced? • Is the trading volume coming from sustainable demand? For me, the strongest token mechanisms are the ones where you can follow the money from the original transaction all the way to the final action. A good design shouldn't just sound convincing. It should leave enough evidence for users to check what actually happened.