Description: Token buybacks look bullish on the surface, but the mechanics behind them tell a very different story. In this episode, we break down why buybacks feel so powerful in crypto and why they can quietly cap long-term upside if used the wrong way.

We’ll talk about:

• Why buybacks work so well at boosting price by tightening circulating supply
• The hidden opportunity cost most protocols ignore when choosing buybacks
• How demand-side growth like product and BD compares to supply-side engineering
• When buybacks make sense and when they’re a red flag for stalled innovation

Keywords: buybacks, token buybacks, circulating supply, crypto tokenomics, capital allocation, protocol revenue, crypto growth strategy