Recently, everyone has been discussing a very practical question: should a project use profits to buy back its own tokens?

Actually, the answer to this question is not complicated at all. The key is whether this money can truly promote the project's growth.

In other words, if this money is used to refine the product, expand the market, build a stronger team, or even acquire competitors, and these actions can lead to rapid growth, then it should be prioritized for these areas. Don't sacrifice growth opportunities just to please token holders; that would be putting the cart before the horse.

But conversely—if this money in the project's hands cannot generate any value growth, then the situation is completely different. The project should first ensure it has enough reserves to handle risks, and the remaining funds should be directly returned to token holders through buybacks or dividends. After all, token holders are the true supporters of the project.

In simple terms, there are two paths: either spend money to grow the cake, or distribute dividends to give back. It all depends on whether the project has the ability to seize growth opportunities.