#新币发行与空投 Seeing Lighter start using protocol fees to buy back LIT, I have to pour cold water on it—this is a very misleading signal.

Buybacks may look like the project team is confident in itself, but in reality? This is often a common tactic in the later stages of new coin issuance. Data shows they have already repurchased $540,000 worth of tokens, which sounds like a lot, but you need to ask yourself a few questions: Where does this fee come from? Is the protocol really generating stable revenue? Or is it just creating a false illusion of "prosperity" by pumping up the price?

I've seen too many projects use buybacks to attract retail investors to take the bait. They create an expectation that the "token is supported," making people feel safe. But what happens? After large investors and team members cash out, this support collapses.

The key is to look at the real purpose of the buyback—Is it for long-term token burning to reduce supply, or to maintain the price from falling? One is a mechanism beneficial to the ecosystem, the other is a smokescreen hiding fundamental issues.

Airdrops and buybacks of new tokens are tests of one's mindset. Don't be fooled by superficial appearances; ask more "why" questions, only then can you survive longer.