‍Sky Protocol's $75M Buyback Strategy Drives 8% SKY Token Growth

Sky protocol has successfully boosted its native token, SKY, by 8% over the past six months through a $75 million token buyback initiative. This strategy involves removing tokens from circulation to restrict supply and increase value.

The protocol utilized 5.5 million USDS stablecoins in August to acquire 73 million SKY tokens, bringing the total buyback expenditure to $75 million since February.

Other projects like World Liberty Financial (WLFI) and Pump.fun (PUMP) are also employing buyback strategies to manage token value and demonstrate ecosystem commitment.

https://cryptovka.ru/en/news/4373/the-power-of-buybacks-sky-s-75m-strategy-drives-8-sky-token-growth