# DefiLlama fees — X 热门讨论 (2026-09-29 09:18 UTC)
## @Tom_Degen68 (Tom ⛩) · 09-29 05:56 · ♥31 ↻0 💬18 Buyback from real revenue is the 2026 meta
$OP tokenomics started to make sense once the buyback went live.
For years $OP sat in that awkward bucket: network usage went up, Superchain expanded, but the token felt like a governance wrapper sitting next to the business
That changed in 2026, @Optimism passed a program to route 50% of Superchain revenue into OP buybacks for 12 months, starting February and this is no longer a governance slide.
As of the August 2026 update:
➊ Month 1: 1,574,817 OP bought with 95.8 ETH ➋ Next two batches: another 7,877,107 OP bought with 418.065 ETH ➌ Total so far: ~9.45M OP taken off the market
Superchain activity → revenue → 50% of revenue → buy OP
That is the first time OP has a reasonably direct value path from network work back to the token. The data is still early, but real.
@DefiLlama has Superchain at ~$441k revenue over the last 30 days, annualized earnings around $9.68M. Not a huge number in web3 yet, but it works.
But supply still matters:
- 53.54% of total supply is already unlocked, so ~46.5% is still sitting behind the vest, stretching into 2029
- Next unlock on @Tokenomist_ai: 11 Oct 2026. So buyback from real revenue on one side, a long unlock calendar on the other.
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For a long time crypto priced tokens on narrative and emissions. Now the market is starting to separate projects that can recycle real fees into the token from projects that only talk about alignment.
$OP finally joined the first group: buybacks funded by real revenue are becoming the north star for protocols that have a (good) business.
Not because they guarantee a pump, but because they give holders a reason to believe the token sits inside the cash-flow loop.
Revenue needs to keep growing through the rest of the vest, but the mechanism is no longer theoretical.
Gud luck to anyone still treating OP like it has zero value accrual. https://x.com/Tom_Degen68/status/2104812442656379223
## @sabuncuzade2 (Core Shibian) · 09-28 20:55 · ♥33 ↻7 💬1 DefiLlama is tracking every move on Shibarium 👀 TVL, volumes, fees — all live. When $SHIB ecosystem wakes up, the whole world will see it on DefiLlama first. The data doesn’t lie. #SHIB #Shibarium 🚀
@DelCrxpto @Mazrael_shib https://x.com/sabuncuzade2/status/2104676455955259426
## @KORypto_JUN (JUN.hl) · 09-29 04:08 · ♥27 ↻1 💬1 One More Engine for HYPE https://x.com/KORypto_JUN/status/2104785426263544024