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Solana founder Toly: Instead of buybacks, a long-term capital structure should be built through staking mechanisms

2026-01-03 12:29:22

SOL0.94%

PANews January 3 News, Solana founder toly posted on X platform in response to Jupiter co-founder’s question about “whether to continue token buybacks or provide growth incentives for existing users,” stating:
“Capital formation itself is very difficult—traditional finance usually takes more than 10 years to truly achieve capital accumulation. Compared to buybacks, I believe a more reasonable approach is to replicate this long-term capital structure. In the crypto industry, the closest mechanism to this is staking. Participants willing to hold long-term will dilute those unwilling to hold long-term through the mechanism. The protocol can accumulate profits as future protocol assets that can be claimed by tokens, allowing users to lock and stake for a year to earn token rewards. As the protocol’s asset-liability sheet continues to expand, those who choose long-term staking will gain a larger share of actual rights.”
When asked about “how to prevent delta-neutral short-selling arbitrage,” toly said: “The rights themselves are linked to the protocol’s future profits, which will continue to grow with future earnings.”

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

Comment

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Xerodollar

· 01-03 17:50

good read, but why is everyone acting like buy backs don't stabilise chat?

Reply0