2025-12-23 03:21:37

Seeing the latest buyback data from Sky Protocol, many people's first reaction is "the project party is doing marketing." In fact, if you truly understand the logic of Decentralized Finance, what is revealed behind this is a rather advanced structural signal.

Let's clarify the facts first. The data just disclosed by the Sky official is as follows: last week, 1.9 million USDS were used to repurchase 32.3 million SKY. Since the launch of the repurchase plan, a total of more than 94 million USDS has been invested. The numbers don't seem small, but what's truly interesting is not the amount itself.

Many projects' buybacks appear to be grand, but their quality varies significantly. What makes Sky special is that its buyback mechanism operates in a completely different way. Firstly, it is not the type that suddenly announces a buyback to stabilize emotions when the market is bad. Instead, it has a clear initiation plan and then continues to execute it, with a relatively stable amount being executed. This strong sense of rhythm, guaranteed source, and repeatable buyback model is actually quite rare in DeFi projects. This indicates that the project party has indeed put effort into financial operations, rather than making a temporary decision.

Looking at another detail makes it clearer. The numbers disclosed by the official party are priced in USDS, which is crucial. Why? Because this means that the buyback funds come from real stablecoin reserves, rather than some new coin swaps or accounting gimmicks. Simply put, the project party directly uses the "real money" earned from the protocol's operations to compress the circulating supply of SKY. This approach, to some extent, permanently locks the profits into the scarcity of the tokens.

This continuous and genuinely stablecoin-backed repurchase mechanism reflects the project party's serious attitude towards long-term development. It is not a momentary expression of emotion, but a systematic supply management system. In this market, there are not many projects that can do this in such a systematic and transparent manner.

SKY0.26%

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POAPlectionist

· 12-23 10:25

Using stablecoin for buybacks is indeed different; it's not just that trap of marketing gimmicks.

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FancyResearchLab

· 12-23 03:53

Theoretically, it should be feasible... However, regarding the USDS pricing, I need to verify it with a contract first before I believe it. I've locked myself in again; if Sky's continuous repurchase logic can really hold up until the Bear Market, it will be revealed. Doing a small experiment by using real stablecoins for this repurchase operation is indeed rare, but whether it can withstand market pressure remains to be seen. Luban No. 7 is under construction again, directly compressing supply from operating profits; academic value is MAX, practical value... we'll just have to wait and see. Now proficient in supply management, but let's not forget that the essence of repurchase is still a zero-sum game, my frens. It's quite interesting, with a clear launch plan + continuous execution, but the key is how long this rhythm can be maintained.

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JustHereForAirdrops

· 12-23 03:50

Hmm... this stablecoin buyback is quite interesting, not that kind of trap.

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StablecoinSkeptic

· 12-23 03:48

Continuous buyback of 94 million USDS? This buyback effort indeed has some substance, but we need to see if it can sustain in the future. I have to admit that using real money for buybacks is better than some projects that just shout slogans. It's just uncertain how long this pace can hold. Wait, the detail of pricing in USDS is indeed rare. It's not just a self-indulgent numerical game; it does show some sincerity, but we’ll see if they can truly manage the supply. When projects play with their supply management systems like this, it sounds good, but aren’t they all chasing token prices? A long-term attitude is a long-term attitude, but can it guarantee returns? Sky's approach is indeed more standardized than those projects in the market that just make empty moves, but I'm curious to see if their financial data aligns.

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