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DWF Labs finds 13 of 15 value-accrual tokens beat Bitcoin this year
A DWF Labs study found that revenue-to-buyback links are a key filter for tokens that accrue value, with Hyperliquid and Pump.fun leading as of October 27.
Quick take
- A DWF Labs analysis found 13 of 15 value-accrual tokens beat Bitcoin so far this year.
- Hyperliquid and Pump.fun led as of October 27, with revenue-linked buybacks seen as the key filter.
- Maple SYRUP fell about 45% since January 1 after cutting its buyback share from 25% to 10%.
BeInCrypto reported on a DWF Labs analysis of value-accrual tokens. The firm found that 13 of the 15 tokens it reviewed had beaten Bitcoin year-to-date. As of October 27, Hyperliquid and Pump.fun led the group, and the analysis singles out the link between revenue and buybacks as the key filter.
The analysis points to Hyperliquid, which directs 95% to 99% of its revenue to buybacks, and Pump.fun, which commits 50% of its net revenue to them. Coinbase, the analysis notes, passes 90% of its reserve income on USDC along, while Lido's NEST buyback has been live since August but has not fired.
Not every example has held up. According to the analysis, Maple SYRUP has fallen about 45% since January 1, after Maple cut its buyback share from 25% to 10%. The same analysis lists HYPE at $73.31, about 25% below its record, and PUMP at $0.00352, about 60% below its peak.
Sources
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