Core Viewpoint - Aave DAO is considering making its token buyback program permanent, proposing an annual budget of $50 million for the buyback of Aave governance tokens, reflecting a trend among crypto organizations to reward investors [1] Group 1: Buyback Proposal - The Aave Chan Initiative has proposed a permanent buyback program that would maintain a weekly buyback rate of between $250,000 and $1.75 million, depending on market conditions and protocol revenue [4] - Aave has experienced a price surge of over 50% since the initiation of its buyback pilot on April 9, although the token's value has declined from an eight-month high of $367 in August [4] Group 2: Financial Performance - Aave DAO has incurred a loss of approximately $1.7 million, or 7%, from the buyback program, having spent about $24.7 million to acquire nearly 106,000 Aave tokens at an average price of $234, which are now valued at $23 million [5] - The protocol has generated around $108 million in revenue this year, compared to $90 million for the entirety of 2024 [5][6] - Aave DAO holds approximately $268 million in crypto assets, with about half in AAVE and the other half in various cryptocurrencies [6] Group 3: Market Reactions - The buyback proposal led to a brief rally in the Aave token's price, but this was followed by a market-wide selloff due to external factors, including concerns over potential trade restrictions between the US and China [2] - Analysts have expressed skepticism regarding the effectiveness of buyback schemes, with reports indicating a lack of clear evidence that markets reward such initiatives [2]

Core Insights - SUN Token (SUN) has surged following Justin Sun's announcement that revenue from a new perpetual exchange, SunPerp, will be used for token buybacks, raising questions about its ability to maintain momentum above $0.3 and reach new cycle highs [1][2] Trading Performance - SUN traded between $0.034 and $0.035 recently, with a 24-hour trading volume of approximately $950 million and a market capitalization of around $656 million, marking a gain of over +22% [2] - The trading session's range extended from $0.0258 to $0.0412, indicating significant volatility and interest in the token [2] SunPerp Launch - The launch of SunPerp, a TRON-based perpetuals DEX, has been highlighted for offering the lowest trading fees in the market and a revenue-to-buyback model, which ties token demand directly to trading activity [2] - SunPerp will allocate 100% of its protocol income to buybacks, aimed at reducing circulating supply and reinforcing value within the SUN.io ecosystem [3] Liquidation and Volatility - Recent data indicates a sharp wave of liquidations for SUN, with over $1.5 million in liquidations occurring as the token surpassed the $0.03 mark, leading to a series of short squeezes and long wipeouts [4] - The $0.03 level is identified as a crucial indicator for maintaining momentum or reversing recent gains, amidst increasing volatility in SUN [5] Total Value Locked (TVL) - As of September 22, SUN's total value locked (TVL) stands at $986.5 million, significantly below its peak of $2.5 billion in 2021-2022 but above the 2023 low of under $500 million [5] - Despite lower market activity compared to previous highs, the TVL has remained stable around the $1 billion mark over the past year, indicating a consistent user base [6]