LMTS just wrapped up Phase 1 token buybacks—and the numbers are worth discussing. Over an 8-week period, the protocol funded $400k in buybacks using only protocol fees. No external capital required.

What stands out? LMTS is hovering right around its TGE price. For context, over 99% of tokens that launched in the past year still haven't recovered to their initial offering price. That's a pretty stark contrast.

The team's using protocol revenue to buy back tokens rather than just sitting on cash. It's a straightforward way to signal confidence and provide some support to the tokenomics. Staking mechanics are already live, which adds another layer to the value capture story.

Whether this momentum holds depends on the usual factors—adoption, TVL, and sustained protocol revenue. But the execution here is clean: skin in the game, real buybacks, real data.