# Tokenomics Related Articles

HTX News Center provides the latest articles and in-depth analysis on "Tokenomics", covering market trends, project updates, tech developments, and regulatory policies in the crypto industry.

Pendle Announces Token Upgrade to Scale Its DeFi Yield Platform

Pendle, the largest crypto yield trading platform, has announced a major upgrade to its native tokenomics with the introduction of sPENDLE. This update aims to unlock deeper liquidity, diversify revenue streams, and strengthen Pendle’s leadership in on-chain yield and interest rate markets. The upgrade follows a record-breaking performance in 2025, with $5.7B average TVL (up 76% YoY), $4.46B in cumulative protocol fees (up 134% YoY), and $54B in monthly nominal trading volume. Key features of the upgrade include protocol revenue being used to buy back and distribute $PENDLE to active sPENDLE holders, a flexible exit mechanism for sPENDLE (14-day no-penalty or 5% fee for instant redemption), and improved voting via an algorithmic emissions model aimed at reducing PENDLE emissions by 20–30%. The vePENDLE lock mechanism will be paused on January 29. The upgrade also supports Boros, Pendle’s innovative platform for tokenizing perpetual funding rates, which has reached $6.9B in notional open interest and $91M in OI within four months of launch. Pendle aims to bridge DeFi with traditional fixed-income markets, offering tools like Principal Tokens (PT), Yield Tokens (YT), and funding rate derivatives to expand access to global yield opportunities.

marsbit01/20 03:14

Pendle Announces Token Upgrade to Scale Its DeFi Yield Platform

marsbit01/20 03:14

Early Trading Made a Fortune? A Comprehensive Guide to Genius's New Rules

**Title: Early Traders Made Huge Gains? Understanding Genius' New Rules** Genius, a highly discussed DEX, announced new GP points rules for its Season 1, ending April 12, with a 50% increase in airdrop allocation. The team confirmed that GP points earned from early trading volume remain valid, benefiting users who followed initial interaction guides. Key updates: - Total S1 GP points are fixed at 200 million, with 75 million already distributed from pre-whitepaper trading. The remaining 125 million will be distributed weekly starting January 20, at 10 million GP per week. - Distribution is weighted to prevent whales from dominating, allowing smaller traders to earn points. - Stablecoin swaps (e.g., USDT/USDC) now have a 0.5x weight; other spot trades retain 1.0x. - Previous task-based and referral GP rewards were removed. Now, points are earned solely via spot trading volume. - New trading tiers introduce fee discounts based on cumulative trading volume, though zero-fee trading remains active indefinitely. - Referrals now offer 35% commission on invitees’ trading fees post-zero-fee campaign. - The GENIUS token will be created before April 12, 2026, with a TGE expected randomly before then. Despite platform bugs from high traffic, Genius’ strong backing (including investment from YZi Labs and CZ as advisor) and confirmed TGE make it noteworthy. With a potential $300M FDV and 10% airdrop, each GP point could be worth ~$0.15. Early participants may have profitable opportunities, especially during the ongoing zero-fee period.

Odaily星球日报01/20 01:49

Early Trading Made a Fortune? A Comprehensive Guide to Genius's New Rules

Odaily星球日报01/20 01:49

Crypto Morning Brief: 10-Year Japanese Government Bond Yield Rises 3 Basis Points, PancakeSwap Passes 'Reduce Maximum Supply' Proposal

Trump links Nobel Peace Prize rejection to Greenland sovereignty claim in letter to Norwegian PM. Japan's 10-year government bond yield rises 3 basis points to 2.3%, highest since 1999. PancakeSwap passes proposal to reduce CAKE's max supply to 400 million tokens. Magic Eden allocates 15% of platform revenue to ME token ecosystem, split between buybacks and staking rewards. Trove faces investor backlash after abandoning Hyperliquid to build on Solana, with funds allegedly diverted to a casino. China's Supreme Procuratorate emphasizes crackdown on virtual currency money laundering crimes. Bitmine stakes an additional 86,848 ETH ($279.4M), bringing total staked to 1.77M ETH ($5.65B). New York Stock Exchange plans to enable 24/7 trading for US stocks.

marsbit01/20 01:28

Crypto Morning Brief: 10-Year Japanese Government Bond Yield Rises 3 Basis Points, PancakeSwap Passes 'Reduce Maximum Supply' Proposal

marsbit01/20 01:28

PancakeSwap tightens CAKE supply ceiling following tokenomics overhaul

PancakeSwap's community has approved a proposal to reduce the maximum supply of its native CAKE token from 450 million to 400 million. The vote, held from January 16 to 19, 2026, received near-unanimous support. This change follows the implementation of Tokenomics Proposal 3.0 in April 2025, which reduced daily emissions and resulted in a net burn of 8.19% of CAKE's total supply in 2025. The new cap does not affect the current circulating supply of approximately 334 million tokens but reduces long-term dilution risk. The move reinforces PancakeSwap's shift toward deflationary tokenomics and supply discipline, though short-term price impact remains muted.

ambcrypto01/19 17:57

PancakeSwap tightens CAKE supply ceiling following tokenomics overhaul

ambcrypto01/19 17:57

2025 Crypto Buyback Revelation: When a $138 Million Buy Order Can't Save an 80% Plunge

"2025 Crypto Buyback Report: A $1.38B Buyback Fails to Prevent an 80% Crash" The year 2025 witnessed an "industrial revolution" in crypto fiscal discipline, with on-chain protocols spending over $1.4 billion on token buybacks. This strategy, driven by mature DeFi business models and favorable US regulatory shifts, aimed to reshape tokenomics. However, the outcomes were starkly polarized. Hyperliquid emerged as the dominant success story, allocating over $640 million (nearly 46% of the total market) to buybacks, which fueled a 4x price surge. Its key was a high "Net Flow Efficiency Ratio" (NFER > 3.0), where buyback volume drastically exceeded token unlock sell pressure, creating net deflation. In contrast, major failures demonstrated that buyback size alone is meaningless against structural inflation. Despite a massive $138 million buyback, Pump.fun's token price crashed 80% as the mechanism served as exit liquidity for concentrated whales without lock-ups. Jupiter spent $70 million but faced an overwhelming $1.2 billion in annual unlocks (NFER of 0.06), making its efforts futile. The analysis introduces NFER as the critical metric: Buybacks only positively impact price when the annualized buyback volume surpasses the value of annual unlocks and emissions (NFER > 1.0). Otherwise, they are ineffective or even counterproductive. By early 2026, a strategic pivot occurred. Projects like Helium and Jupiter halted buybacks, recognizing that capital was better spent on user acquisition, subsidies, and building network effects—akin to "growth stocks." Mature protocols with established cash flows, like Optimism, began adopting buybacks to transition from speculation to value. The conclusion is clear: Financial engineering cannot overcome structural inflation. The new paradigm rewards protocols that use cash flow to build real economic moats and achieve genuine net deflation. Investors must now scrutinize NFER, holder structure, and the source of buyback funds.

marsbit01/19 08:37

2025 Crypto Buyback Revelation: When a $138 Million Buy Order Can't Save an 80% Plunge

marsbit01/19 08:37

dYdX Records Sustained Ecosystem Expansion Through Governance and Trading Innovation

dYdX has evolved from a derivatives platform into a major decentralized trading ecosystem, emphasizing self-custody, advanced trading tools, and community governance. It has processed trillions in trading volume, reflecting strong demand for decentralized alternatives. The platform expansions include perpetual and spot markets, improving capital efficiency and user experience. The DYDX token supports governance and a buyback mechanism tied to protocol revenue, aligning incentives and enhancing value. Community-led governance and a grants program foster continuous innovation and resilience. dYdX’s sustainable model positions it as a leading decentralized platform capable of competing with centralized exchanges.

TheNewsCrypto01/17 04:27

dYdX Records Sustained Ecosystem Expansion Through Governance and Trading Innovation

TheNewsCrypto01/17 04:27

Single-Quarter Burn of 13.62 Trillion Tokens Hits New High, $HTX Cumulative Burn Volume Approaches 10% of Total Supply

HTX DAO has successfully completed the Q4 2025 burn of $HTX tokens, destroying 13.62 trillion tokens—a record high—worth over $23.31 million. This represents a 36.4% year-on-year and 3.78% quarter-on-quarter increase, demonstrating strong performance despite a generally subdued crypto market. The burn mechanism, which uses 50% of Huobi HTX's revenue to repurchase and destroy tokens, highlights the platform's robust business fundamentals. Cumulatively, HTX DAO has now burned 99.49 trillion $HTX, approaching 10% of the total supply, accelerating the token’s transition into a deep deflationary phase. This reduction in circulating supply is expected to provide long-term value support. Throughout 2025, Huobi HTX saw significant growth, surpassing 55 million registered users and recording $3.3 trillion in annual trading volume, a 39% increase year-on-year. Moving forward, HTX DAO plans to further decentralize governance, expand $HTX utility across CeFi and DeFi ecosystems, and enhance community-driven decision-making to sustainably grow the token’s value.

marsbit01/16 10:46

Single-Quarter Burn of 13.62 Trillion Tokens Hits New High, $HTX Cumulative Burn Volume Approaches 10% of Total Supply

marsbit01/16 10:46

Sentient Announces Token Economics, How Will the Market Price It?

Sentient, an open-source AI platform focused on building an open, monetized, and verifiable Artificial General Intelligence (AGI) economy, has released the tokenomics for its native token SENT. The total supply is set at approximately 34.36 billion tokens (2³⁵), distributed across five categories: Community Initiatives & Airdrops (44%), Ecosystem & R&D (19.55%), Team (22%), Investors (12.45%), and Public Sale (2%). The SENT will be used for staking, model services, data-related functions, and payments within the platform's ecosystem, particularly for services powered by Artifacts. Unlock schedules vary: 30% of community and ecosystem allocations are unlocked at TGE, with the remainder linearly released over four years. Team and investor tokens are locked for one year post-TGE, then linearly vested over four and six years, respectively. The public sale portion is fully unlocked at TGE. Market expectations are high, with Polymarket prediction data indicating a 99% probability that Sentient’s fully diluted valuation (FDV) will exceed $200 million upon launch. Sentient aims to create a decentralized AGI economy where developers can monetize models, data, and innovations. Its core infrastructure, GRID (Global Research and Intelligence Directory), is a composable network of AI agents, models, and tools. The project has raised $85 million in seed funding from investors including Founders Fund, Pantera Capital, and Framework Ventures. Key advisors include Sandeep Nailwal (Polygon) and Sreeram Kannan (EigenLayer). The team is research-heavy, with core contributors coming from academic and engineering fields. The platform emphasizes transparency and collaboration through its Open, Monetized, Loyal (OML) model and has open-sourced its ROMA (Recursive Open Meta-Agent) framework to support multi-agent task coordination. Over 60 ecosystem partners have been onboarded, covering model collaboration, agents, data providers, and validators.

marsbit01/16 10:12

Sentient Announces Token Economics, How Will the Market Price It?

marsbit01/16 10:12

Stablecoins Control 60% of Revenue but Face 'Liquidation' from Interest Rate Cuts

The article analyzes the revenue structure of the crypto industry, highlighting that stablecoin issuers, particularly Tether and Circle, dominate with over 60% of the total revenue, though their share is expected to weaken due to declining interest rates. Decentralized perpetual exchanges (perp DEXs) like Hyperliquid emerged as a significant revenue driver, accounting for 7-8% of total revenue in 2025, surpassing older DeFi sectors. Three key revenue sources are identified: spread income (from stablecoins), trade execution (from perp DEXs), and distribution channels (from token launch platforms). The industry generated $16 billion in revenue in 2025, with 58% retained by protocols after paying suppliers. Notably, value transfer to token holders via rewards, buybacks, and burns increased, reaching over 18% of protocol revenue at its peak, signaling a shift toward token-based economic ownership. The trend is expected to accelerate in 2026 as protocols prioritize incentivizing holders.

比推01/14 14:21

Stablecoins Control 60% of Revenue but Face 'Liquidation' from Interest Rate Cuts

比推01/14 14:21

After the Implementation of Uniswap's Fee Switch: Is This DeFi Transformation's 'Report Card' Impressive Enough?

Uniswap's fee switch activation, implemented through the "UNIfication" proposal, marks a pivotal shift in its tokenomics by linking UNI tokens directly to protocol usage and revenue. Previously a governance-only asset, UNI now accrues value through a deflationary mechanism where a portion of protocol fees from Uniswap V2, V3, and Unichain is used to programmatically burn UNI tokens. An initial one-time treasury burn of 100 million UNI was executed to compensate holders for past unaccrued fees. Early data indicates an annualized protocol revenue of approximately $26-27 million, resulting in a revenue multiple of around 207x relative to UNI’s $5.4 billion market capitalization. The current annualized burn rate is estimated at 4-5 million UNI, representing only 0.4% of the circulating supply. This high valuation implies strong market expectations for future growth, requiring expanded fee capture—such as broader pool coverage, V4 hooks, and Unichain optimization—to justify current levels. The move reflects a broader DeFi trend toward "fee-hooked" token models, where tokens are designed to better align holders with protocol economics through mechanisms like burns, staker rewards, or ve-token lockups. This transition makes UNI more analytically grounded but also subjects it to greater scrutiny based on sustainable value accumulation and real yield generation. Regulatory developments regarding revenue-sharing tokens will also play a critical role in shaping its future.

marsbit01/14 10:05

After the Implementation of Uniswap's Fee Switch: Is This DeFi Transformation's 'Report Card' Impressive Enough?