Market Dynamics - Hyperliquid's annual revenue flips $191 million from Circle to Hype buybacks in 6 days [1] - Daily buybacks jump from $2.7 million to $3.2 million, representing an increase of approximately 185% [1] - qianbaidu.eth deployed $14 million in 48 hours [1] - Saudi sovereign wealth is accumulating 800,000 tokens across protocols [1] Market Sentiment - Market is pricing this like the vote already failed [1]

Demand & Revenue - Daily revenue is estimated at ~$900 thousand - $1 million based on moving ~18 thousand - 20 thousand packs/day at $50 each [1] - Gross run rate is roughly $30 million/month, despite supply bottlenecks [1] - Demand significantly outweighs supply, which is considered bullish for the company [1] - 17% of total users contributed to 928% of total gachapon spending [1] - 496% of users spent > $1 thousand [1] Margins & Profitability - Some estimates put net profit at ~10% of gross sales, resulting in $85 thousand - $100 thousand/day profit [1] - Benchmarks show a true margin of ~215% net of buybacks across $203 million spent, suggesting the company's model could be significantly more profitable [2] - Base case: $25 million/month net profit is achievable with current constrained operations [4] - Bull case: With supply normalized + recurring buybacks, the company could easily scale into $7-10 million/month net profit [4] Recurring Revenue & Business Model - 95%+ of cards are sold back within 24 hours [2] - One-time sales yield ~10%, but recurring buy-sell loops create compounding 5% margins each cycle [2] - The company is evolving into a recurring revenue marketplace with margins closer to 20%+ [3] - The company is now more of an exchange or perpetual yield machine, monetizing trading flow continuously [2] Strategic Outlook - The key question is how much of the revenue/profit flows into the $CARDS token [3] - The company needs to onboard more fresh card inventory to keep up with demand [4] - Proper infrastructure would allow them to handle 9-figure inventory inflows [4]

sellers cannot outrun $5m daily buybacks. ...

Key Thesis - Pumpdotfun 的核心观点与六周前以当前价格购买 13.2 亿美元的公开和私募股份时相同 [1] - 主要假设的风险已经降低 [1] Buybacks - 他们表明愿意用 100% 的收入回购 $PUMP [1] Fundamentals - (No specific fundamentals mentioned in the provided content)

WLFI community has proposed allocating 100% of protocol-owned liquidity (POL) fees to open market buybacks and permanent burns of WLFI tokens, aiming to reduce circulating supply. The proposal applies only to fees generated by WLFI-controlled liquidity and excludes those from community or third-party LPs. https://t.co/Jhi9hRCpmB ...

hyperliquid generated $240m in buybacks from liquidation fees over 90 days.oracleless architecture isn't a bug, it's the revenue model feeding token holders. ...

hyperliquid was directing 99% of protocol revenue into buybacks, for capturing 36% of all crypto revenues at 1.2% combined market cap. how long before traders understand self-liquidating treasuries? ...

RT Mod (@wsbmod)@hyperunit Unit contributed 20% of the buy backs via HL's portion of the spot fees ($941,907) during this period.In addition, Unit is also using 100% of the fees of its portion to buy back HYPE, effectively resulting in $1.88M of HYPE buybacks directly attributable to Unit spot trading. ...

RT VIKTOR (@thedefivillain)If people are excited about the buybacks on $HYPE or $PUMP, they should have a look at the $QTO buybacks :The buyback wallet bought $800k of $QTO over the last 30 days (verifiable on-chain)... on a $12M market cap coinAnd all of this is happening while the volume on @quanto is still quite small, which means it could easily go up multiples.I love this asymmetric setup, so I am obviously very long $QTO ...

assistance fund burning $3.65m daily through hype buybacks, already consumed 2.9% of max supply. november unlocks hit exactly when fund crosses 5% ownership threshold. programmatic buyers controlling >5% of supply create permanent floors. positioning for the only buyer that never stops. ...