Key Insights:
Crypto news: Token buyback programs concentrate purchases during periods of high market demand, while reducing spending during periods of lower demand.
Current taker-focused buyback models remove liquidity and create immediate price impact during high-activity periods.
New maker-based approaches and temporal smoothing techniques address structural timing inefficiencies in protocol buyback programs.
Crypto protocols operate with a fundamental flaw in their token buyback strategies, which concentrate purchases at market peaks while starving them during periods of lower prices.
An anonymous Raydium contributor known as Infra identified this structural problem in an Aug. 26 report shared via X.
The analysis revealed how current revenue-based buyback programs created reflexive timing issues that worked against optimal execution.
Reflexive Timing Issues
The dominant buyback model ties spending directly to protocol revenue, which creates counterproductive timing p
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