Many projects are considered air coins because their tokens have no utility other than governance voting, and the profits earned by the protocol have nothing to do with the token holders.
However, in the economic model design of @ListaDAO , the buyback and burn mechanism is the key link connecting protocol revenue and token value.
This is a simple and aggressive supply-demand logic, worth studying repeatedly by every investor.
As the TVL of the LISTA protocol continues to grow, lending interest and liquidation penalties accumulate into a massive cash flow.
The protocol will regularly use this revenue to buy back $LISTA on the secondary market and either burn or distribute it.
This means that the circulating chips in the market will rigidly decrease over time. This is a mechanism similar to stock buybacks, directly enhancing the value of each remaining token.
When the bull market arrives, lending demand surges, protocol revenue explodes, and the buyback force will also increase, while at this time, sell orders in the market will be exhausted due to the ve lock-up mechanism.
This supply-demand gap will create a strong price push.
For long-term holders, you do not need to profit through frequent trading; you just need to quietly hold the tokens and wait for the protocol to use its profitability to lift you up.
This is a long battle about value capture, and time is on the side of deflation.
