Reflecting on the project journey over the years, I can't help but feel a mix of emotions. The news of Ether.fi DAO proposing to buy back ETHFI tokens reminded me of THORWallet's token support program back in the day. History always repeats itself in surprising ways.

Ether.fi plans to buy back $50 million worth of ETHFI, which is quite a substantial move. The buyback will commence when ETHFI's price drops below $3, employing a strategy that shows some sophistication. However, ETHFI has already fallen to $0.93, well below the planned buyback price, indicating that market confidence has indeed been shaken.

This buyback strategy is actually inspired by traditional finance practices. In the crypto world, many projects with solid revenue but weak secondary market demand have employed similar tactics. But Ether.fi directly tying the buyback to the token price is a rather innovative approach.

Looking back, when THORWallet launched its token support program, the market's reaction was mixed. Some saw it as a way to maintain token value, while others viewed it as a tacit admission of the project's lack of appeal. Now it seems that both THORWallet and Ether.fi are responding to market fluctuations in their own ways.

However, a sharp decline in token price often signals deeper underlying issues. Can buybacks alone truly solve the fundamental problems? Projects should perhaps focus more on enhancing product value and expanding their user base. After all, without genuine demand and practical use cases, any token will ultimately struggle to appreciate in value.

Over the years, I have witnessed many projects rise and fall. Some temporarily stabilized through buybacks, while others ultimately failed due to neglecting core issues. Whether Ether.fi's move can turn the tide remains to be seen, but it will certainly be a case worth watching in this cycle.