Been thinking about token buybacks recently. My very simplistic view is: if you earn $100 from trading fees and can use them for buybacks, why not instead invest $100 somewhere where it will turn into $200 over time. The do buybacks with $100, and reinvest the remaining $100 elsewhere (i.e. into the product) Obviously it's more nuanced than that, but I'm happy to see teams experiment with this approach. Here's what Clawpump is trying out right now: i) Clawpump allows anyone to launch tokenized agents ii) each token launched generates trading fees iii) trading fees go to the token creator and Clawpump iv) Clawpump reinvests portion of its fees into the ecosystem, i.e. LPs for promising tokens and/or hoards them to get deeper exposure to its ecosystem (if one of the ecosystem tokens appreciates in price, they directly benefit from it) v) profits from LPs or strategic reserves flow back into CLAW You could simply do direct buybacks of CLAW from the trading fees, or you can create an additional flywheel and use the fees to help your ecosystem projects, after which you regain your capital from trading fees and then buy CLAW. Personally, I'd like to see even higher share of trading fees going into this play (if it proves to be profitable) to amplify the flywheel. It's time for projects to move beyond basic buybacks and burns.