Token buybacks from the open market is one of the best ways to keep it alive and sustainable in the long term. Revenue --> Buybacks This is how a lot of tokens get back above ICO price after the first dump. Recently, @Covalent_HQ announced that they bought back 900,000 $CXT. They've monetized the usage and used that cash flow to erase $CXT from existence. That’s 900K tokens permanently removed from circulation, funded by real revenue. Covalent routes 95% of paid API fees into daily token buybacks—not monthly, not quarterly, but daily. This is happening on autopilot, and it’s only getting stronger. Over the last year, they’ve burned nearly 0.77% of total supply while locking up another 33% in staking. That means more than a third of all CXT is already off the market. And what’s driving this machine? Real API usage across 200+ chains. Covalent is indexing the full chain state, powering developers, dApps, AI agents, and DePIN infra with high-resolution data. With modules like...
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