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LONG
2026-07-25 03:40:45

LONG says 25% to 50% of protocol fees are being routed into daily liquidity cycles

LONG co-founder Nate said the team is directing 25% to 50% of protocol fees into liquidity through a daily cycle designed to improve liquidity for LONG assets. In his post on X, he said the end state is for the protocol to hold more permanently locked equity liquidity that benefits the community and cannot be withdrawn by anyone. Nate added that, once the process has been validated, the mechanism will be expanded step by step to cover more fully diluted valuation, or FDV, ranges and additional assets. Progress will be published on the LONG dashboard. The statement outlines how the team plans to recycle part of protocol revenue back into market depth rather than leaving the fees idle. No further implementation timeline or asset list was disclosed in the post cited by Foresight.

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LONG says 25% to 50% of protocol fees are being routed into daily liquidity cycles
Ansem
2026-07-17 08:55:00

Ansem says buybacks alone do not explain why Hyperliquid trades far above pump.fun

Solana trader Ansem argued in an X post on July 16 that token buybacks do not create value on their own, and that the real driver of valuation multiples is what he called a “trust premium” between a project team and its community. He compared Hyperliquid and pump.fun, two protocols with large revenue bases and aggressive buyback programs, yet sharply different fully diluted valuations. According to the figures cited in the post, Hyperliquid generates roughly $800 million in annualized revenue and trades at about a $65 billion FDV, while pump.fun generates about $440 million in annualized revenue and sits near a $1.4 billion FDV. Both teams have directed most of their revenue toward buybacks, but their valuation gap is close to 50x. Ansem said Hyperliquid earned a higher multiple because the team, including founder Jeff, built credibility by focusing on products, sticking to pre-defined on-chain reward metrics, and delivering on earlier commitments. For pump.fun, he pointed to an unfulfilled airdrop promise as the main source of market distrust. He also said that if pump.fun were to honor that commitment and address core user concerns, the token could rise 10x to 15x, with trading activity, attention and platform revenue also improving.

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Ansem says buybacks alone do not explain why Hyperliquid trades far above pump.fun