TechFlow news — On December 5, Backpack CEO Armani Ferrante posted, "Buybacks and burns are the dumbest token mechanism I can think of. It signals that a project's team lacks better ideas, can't generate solid returns on investment, and has no superior use for that capital. Don't buy back and burn. Instead, reinvest available funds back into growth until growth potential is exhausted."
Armani Ferrante added, "Binance might be the only crypto company I can imagine for which buyback-and-burn makes sense, given its scale. But no other projects should follow this approach."
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