Tokens with both buybacks AND burns

[sergiorus]

Seems like many projects run token buybacks nowadays, but the vast majority either just distribute the tokens to stakers/veTOKEN holders or lock them and I've discovered only 3 that actually burn them, permanently reducing the supply.

If you are aware of any others, feel free to post in here (with the source) and I will add them to the OP.



1. Hyperliquid's $HYPE



100% of revenue goes into buybacks and burns
Total burned (as of June 2026): 45.08 million tokens or 4.51% of total supply
Current annual burn rate: 1.5822%
Burns occur: once daily

Source: https://www.defiburn.com/hyperliquid



2. Uniswap's $UNI



Revenue from certain pools and chain goes into buybacks and burns. Revenue from more pools and chains is occassionally added via governance.
Total burned (as of June 2026): 105.5 million tokens or 10.5% of total supply
Current annual burn rate: 0.6057%
Burns occur: many small burns a day

Source: https://www.defiburn.com/uniswap and https://uni-burn.vercel.app/



3. Pancakeswap's $CAKE



100% of revenue goes into buybacks and burns
Total burned (as of June 2026): 54.68 million tokens or 16.23% of total supply
Current annual burn rate: 3.55% (YTD)
Burns occur: once a week

Warning: there is ongoing incentivisation program and the burn rate is only slightly higher than new token minting rate.

Source: https://pancakeswap.finance/burn-dashboard



4. UNUS SED LEO $LEO



Some part of Bitfinex's revenue goes into buybacks and burns
Total burned (as of June 2026): 79.56 million tokens or ~8% of total supply
Current annual burn rate: 0.32%
Burns occur: everyday

Source: https://leo.bitfinex.com/

[crwth]

Maybe it's best to check the net inflation/deflation rate for the tokens as well? I think there's something interesting in comparing projects that have that data. I think there could be a correlation with the % of revenue allocated to burn tokens.

An addition to the research may be DeFiLlama, which provides a dashboard to view project fees.

[Charles-Tim]

Uniswap rose to almost $20, but the coin is now at $2.48. Its all-time high which was in 2021 is $28.46. Cake fell from $5.24 to $1.31.Its all-time high was $15.42 which was in 2021.

Hype is still not long, let us see what will later happen, but the coin is performing good as Hyperliquid is also competing with other exchanges.

But from my explanation, what that is most important is demand and limited supply that bitcoin has.

[sergiorus]

Maybe it's best to check the net inflation/deflation rate for the tokens as well?

It is a little tricky. None of the above have any VC unlocks/vestings anymore.
Team/treasury unlock dates are well known but they may be postponed or not be immediately sold.
Incentives on the other hand, create constant selling pressure but as I have mentioned, only Pancakeswap has an ongoing program at the moment and the inflation from the incentives insignificantly less than the deflation from burns.

An addition to the research may be DeFiLlama, which provides a dashboard to view project fees.

Defillama seems to track everything under the sun but that feeling is misleading. Most of what it tracks is pretty useless at least without additional context.
For example, fees =/= revenue.

[MAAManda]

Image Source: DeFiBurn

It's surprising to see the total $HYPE that has been burned based on $, if that were all factored into $HYPE MC then they would currently have half of what $TRX has. With the steps they have taken, it shows that they're really serious about handling the economic side of $HYPE.

BTW, everything on your list is DeFi-based tokens. If it's not just DeFi-based tokens, one name that deserves a place on the list is BNB (BNB). They do buybacks & have quarterly burn mechanism.

[sergiorus]

one name that deserves a place on the list is BNB (BNB). They do buybacks & have quarterly burn mechanism.

You're right that BNBs burns are outstanding, however, as far as I know there's no buybacks of it, just operational fees.

Quite a few blockchain coins do that. Even (under some conditions) Ethereum, though with no quarterly burns.

Actual buybacks aren't even that common still. For example, last year, Hyperliquid accounted for almost HALF of all token buybacks.

BNB surely deserves attention, but in this thread I'm trying to focus only on applications with revenues determined for buybacks and burns.

There are also interesting projects with buybacks but no burns too, such as SKY, Aave, Lighter, Jupiter and more.
But again, both buybacks AND burns are still a rarity.

[joniboini]

But again, both buybacks AND burns are still a rarity.

A quick search shows another 2 or 3 projects doing burns and buybacks, though I'm not sure how effective they are at managing supply and marketcap. For example Raydium, which seems to be doing both of them (even though they've been subjected to hacks and whatnot, so the data can be considered an outlier too if other are normal). In another article I read that some projects don't do both of them because they want to hold more control over the supply. Not yet ready to make everything determined by the market.

[shinratensei_]

Despite burn only 1 out of 3 coins in your picture actually rising in value. Burn is a good gesture from developer to keep their token scarce and more valuable, but without fundamental and real product market fit, it's meaningless.
Anyway, other token with massive burn is OKB, reduced its supply massively the coin keep hitting new all time high.

[sergiorus]

But again, both buybacks AND burns are still a rarity.

A quick search shows another 2 or 3 projects doing burns and buybacks, though I'm not sure how effective they are at managing supply and marketcap. For example Raydium, which seems to be doing both of them (even though they've been subjected to hacks and whatnot, so the data can be considered an outlier too if other are normal). In another article I read that some projects don't do both of them because they want to hold more control over the supply. Not yet ready to make everything determined by the market.

Raydium is what I hear a lot too! However, I couldn't find any reliable dashboard or even data on how and when it happens and when it comes to investing I don't want to just trust the devs, I want to see a schedule and I want to see the burning transactions.

Also not really related but it was once again hacked yesterday lol. (Source: https://www.wublockchain.xyz/news/news-19498)

[Akbarkoe]

Despite burn only 1 out of 3 coins in your picture actually rising in value. Burn is a good gesture from developer to keep their token scarce and more valuable, but without fundamental and real product market fit, it's meaningless.
Anyway, other token with massive burn is OKB, reduced its supply massively the coin keep hitting new all time high.

I look more at the Hype where during this period they were really quite consistent in buying back and burning and gradually also the developers continued to improve the ecosystem related to the hype, therefore from that seriousness in bearish times now they even formed a new ATH which should not be the schedule for every token to experience such an increase.

OKB did the same thing as BNB and also BGB, they also did the same thing for burning, although all of these projects have mechanisms in their own way.

[Emitdama]

Despite burn only 1 out of 3 coins in your picture actually rising in value. Burn is a good gesture from developer to keep their token scarce and more valuable, but without fundamental and real product market fit, it's meaningless.
Anyway, other token with massive burn is OKB, reduced its supply massively the coin keep hitting new all time high.

And that coin must be the first one or hyper liquid. This is the new home town of the meme coins right now but I think before, it was not really meme coins but it was shit coins were the ones that are shining. We are on the era of centralization now but I think there is still no major improvements when it come to these shady projects. A lot are still being affected by them.

Although, as they say ''none can get scammed if there will also be no one that will trust those too good to be true stuff''. Burn is good but sometimes it is only a gesture in order to try and attract the people of investing in the coin, as they can automatically think that burn is like a magic to make the project a success.

[Orpichukwu]

Despite burn only 1 out of 3 coins in your picture actually rising in value. Burn is a good gesture from developer to keep their token scarce and more valuable, but without fundamental and real product market fit, it's meaningless.
Anyway, other token with massive burn is OKB, reduced its supply massively the coin keep hitting new all time high.

Token burning is only effective when the token itself has good usage and is not burning tokens and expecting the value to rise to the top. When the token doesn't have anything to drag demand to it, burning won't do anything good. For those whose burning is reflecting on the price, they have something to offer.

[Callido]

Token burning is only effective when the token itself has good usage and is not burning tokens and expecting the value to rise to the top. When the token doesn't have anything to drag demand to it, burning won't do anything good. For those whose burning is reflecting on the price, they have something to offer.

A project cannot influence my participation all in the name of burning mechanism as a way to stimulate the success of the project, I have witnessed projects burn millions and billions of tokens, and yet the price is still low, infact it keeps getting worse after each burn. For a project to succeed, there needs to be real utility unless it will be another garbage that will dump forever before delisted from every exchange.

[jossiel]

I've held uni and cake but didn't got lucky to earn from most of it. And with hype, I don't think that I'll have a lot of it because I think that I'm too late to have it.

While buy backs and token burning are good factors to prolong the life and economy of the token and project itself.

There can also be a draw back to it even it's a consistent one, there may be a time that its impact won't reflect to its price.

[shinratensei_]

I look more at the Hype where during this period they were really quite consistent in buying back and burning and gradually also the developers continued to improve the ecosystem related to the hype, therefore from that seriousness in bearish times now they even formed a new ATH which should not be the schedule for every token to experience such an increase.

OKB did the same thing as BNB and also BGB, they also did the same thing for burning, although all of these projects have mechanisms in their own way.

$HYPE dev consistently buying back from revenue generated and adding real usage to their token, it's no wonder their token keep going up all time high.
Other dev is burning but their product is stagnating, their product don't even need the token in the first place but $HYPE is different. This is why more burning is meaningless without good product. Nobody gonna buy a shitcoin just because there is less shitcoin in circulation.

[sergiorus]

Despite burn only 1 out of 3 coins in your picture actually rising in value. Burn is a good gesture from developer to keep their token scarce and more valuable, but without fundamental and real product market fit, it's meaningless.
Anyway, other token with massive burn is OKB, reduced its supply massively the coin keep hitting new all time high.

Token burning is only effective when the token itself has good usage and is not burning tokens and expecting the value to rise to the top. When the token doesn't have anything to drag demand to it, burning won't do anything good. For those whose burning is reflecting on the price, they have something to offer.

I'm sorry may I ask you what does HYPE have to offer apart from buybacks and burns? What made it grow from $3 to $70?
How's it different from the other two?

[o48o]

Not sure why you didn't list "UNU SED LEO", because whole purpose of it is to be bought back token from the revenue of bitfinex. And there's not even some artificial 50% target, but they are going all the way. They have even legal contract to do so indefinitely. It's the mother of all buybacks so maybe check it out.

And when / if they get their stolen bitcoins back, they are legally obligated to use them to buy back unu sed leo. You don't have to be genius to see what that would do to the price.

[Abiky]

Uniswap rose to almost $20, but the coin is now at $2.48. Its all-time high which was in 2021 is $28.46. Cake fell from $5.24 to $1.31.Its all-time high was $15.42 which was in 2021.

Hype is still not long, let us see what will later happen, but the coin is performing good as Hyperliquid is also competing with other exchanges.

But from my explanation, what that is most important is demand and limited supply that bitcoin has.

Just because a token or coin has a buyback or burn, doesn't mean its price is guaranteed to go up. It's all subject to the rules of supply and demand. If there's a high demand for an asset with a limited supply, you can bet prices will skyrocket. Otherwise, not. Such is the case with exchange-based tokens. Particularly Uniswap and PancakeSwap. They're a losing game, because demand has remained low.

There's not much momentum for decentralized exchanges or AMMs right now. The only exception would be BNB because it's tied to the largest centralized crypto exchange in the world. You're much better holding BTC for the long haul. Beats getting "rekt" by altcoins anytime. You'll thank me later.

[shinratensei_]

I'm sorry may I ask you what does HYPE have to offer apart from buybacks and burns? What made it grow from $3 to $70?
How's it different from the other two?

The devs behind HYPE is doing great by adding new utility to the token. From just an exchange token with tiered benefit to a full fledged layer 1 blockchain token, recently they are trying to expand utility through HIP-3 and HIP-4 and it seems to be a success.
Besides generating real revenue to buy back their own token which means their business is a proven business, they also widen the demand for it. They are doing what BNB is doing but doing it the decentralized way.

[sergiorus]

Not sure why you didn't list "UNU SED LEO", because whole purpose of it is to be bought back token from the revenue of bitfinex. And there's not even some artificial 50% target, but they are going all the way. They have even legal contract to do so indefinitely. It's the mother of all buybacks so maybe check it out.

And when / if they get their stolen bitcoins back, they are legally obligated to use them to buy back unu sed leo. You don't have to be genius to see what that would do to the price.

That's why I asked to write your suggestions in the thread, too many coins - can't track them all.

Good call anyway, thanks, I'll add it to the OP.

I ran some math btw, seems like they burned just $540K worth of tokens in the last 7 days which is not impressive to say the least, given the marketcap is $9.5 BILLION FDV.
For comparison, Pancakeswap burned $978K (almost twice more) whilst having almost 20 (TWENTY) times smaller valuation.
Current yearly burn rate is only about 0.32%