SKY Token Value Jumps Amid Aggressive Buybacks and Governance Updates

The decentralized finance (DeFi) protocol behind the SKY token has seen a significant increase in its native cryptocurrency's value. According to on-chain data, the SKY token has gained around 10% over the past day.

At the heart of this surge is the protocol's ongoing token buyback program. Funded by the project's treasury and executed directly on the market, more than 1.8 billion SKY tokens have been repurchased so far.

The strategy mirrors traditional corporate share buybacks, a model adopted by some DeFi protocols to return value to token holders and support price stability.