The 2025 DeFi Buyback Wave: Leading DeFi protocols spent approximately $800 million on buybacks and dividends in 2025—a 400% increase from early 2024—aiming to boost confidence by emulating public company strategies. Key Project Case Studies:Aave: Conducts weekly buybacks of ~$1 million in AAVE tokens, yet reported negative book profits after the pilot phase.MakerDAO: Uses DAI surplus via its Smart Burn engine to repurchase MKR, but the token price remains at only one-third of its all-time hi...