Everyone’s calling their buybacks the “next $HYPE flywheel,” but most are just smoke. If the flywheel doesn’t have these two, it won’t hold: • real cashflow from people actually using the product • clean tokenomics, no VC/team dumping into buybacks $HOME recently launched its buyback program and checks both, imo: ▸ 80% of revenue flows straight into buybacks ▸ DAO reabsorbs 150% of emissions weekly ▸ $366k+ already bought back onchain But does it have the volume and PMF to sustain? They’ve pulled $16B+ volume in the last 8 months, with 500k+ users Growth is coming from the retail-friendly product design ( perps, dex, yield in one app ) I’ve been using it a lot, and while farming the airdrop, I genuinely love the UX. Try it here: Team/VCs are locked with a 9-month cliff, so no aggressive unlock drag on the buybacks. So far, it’s a proper deflationary flywheel. I’ll run deeper on numbers later, but for now, I like it. I aped.