PumpFun bought back 15% of the total supply for $217M - and the price still went down afterward. Yet people keep telling me that buybacks are what really matters. I’m actually glad the Polygon team doesn’t chase these kinds of “trends.” We’ve seen the same thing with DAT companies. And it was especially funny to read teams with low revenue talking about burns and similar ideas. These are all important tools, but they have to be used skillfully and in a way that strengthens the ecosystem’s position and moat - not just to create short-term speculative fuel for degens on crypto Twitter.

Sure. But do nothing and just be delulu and hope for the best isn’t a strategy either