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Nathaniel Whittemore @nlw
, 9 tweets, 3 min read Read on Twitter
1/ Crypto Narrative Watchlist: Token Buybacks. I’ve noticed an uptick in chatter about the idea of token projects buying back tokens. Some examples:
2/ This thread really super charged the discussion, and basically contains every aspect of it - from people who argue for it as a way to show confidence & reward holders to those re-articulating the belief that tokens are worthless.
3/ @brucefenton argues that the financial incentives to *not* buy back tokens are too strong in a down market for it to be plausible.
4/ Arjun argues that it’s largely irrelevant, as most projects with low daily trading volume are effectively zombies
5/ I’m not sure exactly why this discussion is picking up right now. Part of it could be the success of exchange token buy-and-burn models - notably @binance/BNB.
6/ It could also be the broader, highly contentious discussion of corporate buybacks in the stock market.
8/ In any case, will be interesting to watch. Could token projects start to face pressure from investors and holders to buy back as a sign of commitment?
9/ ADDITIONI had missed this thread on buy backs from @MikeBucella arguing the positive long-term community benefits
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