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DWF Labs Finds 13 of 15 Tokens Paying Holders Beat Bitcoin This Year
DWF Labs found that 13 of 15 tokens with active or announced value-accrual mechanisms outperformed Bitcoin (BTC) year-to-date. Hyperliquid (HYPE) and Pump. fun (PUMP), both running buybacks, led the group as of October 27.
Brief
A DWF Labs tally shows 13 of 15 tokens paying holders through value-return schemes beat Bitcoin this year. Hyperliquid and Pump.fun, both funding buybacks, led as of October 27, though each trades far below its peak. Investors now distrust narrative-only tokens, the report says, so revenue reaching holders through buybacks is the simplest filter. Maple Finance's SYRUP is down roughly 45% since January 1, and Lido's LDO has also fallen, with DWF tying both drops to buybacks that shrank or carried conditions. Hyperliquid sends 95% to 99% of revenue to HYPE buybacks, and Pump.fun sends half its net revenue to PUMP buybacks, the report notes. HYPE trades about 25% under its September 23 record, while PUMP sits roughly 60% below its September 14, 2025 peak. Whether that buyback funding stays steady is the next question.
Why it matters: The findings suggest buyback payouts to holders are becoming a central measure for judging tokens, though funding for those buybacks can change.
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DWF Labs finds 13 of 15 value-accrual tokens beat Bitcoin this year
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