let me tell you something that bothers me about this space. 99% of crypto projects raise millions, promise the moon, then slowly sell their tokens on the same people who believed in them. you’ve seen it. i’ve seen it. we’ve all been on the wrong side of that trade at least once.
so imagine my face when i’m scrolling at like 1am and i read that $SIGN spent $12 million buying back their own token.
i literally stopped and said “no way” out loud. my wife told me to go to sleep.
but i couldn’t. because i started doing the math and it actually messed with my head. $SIGN’s whole market cap is around 56 million. so if they spent 12 million buying tokens back that means they basically swallowed up a fifth of their own project’s value. you dont see that. like ever. most teams at this stage are selling on you not buying alongside you.
and here’s what $SIGN did with those tokens. they didn’t move them to some mystery wallet. they locked every single token in a public on chain address that literally anyone can go verify right now. then they took that whole pile and created something called Orange Basic Income. basically if you hold $SIGN in your own wallet, they pay you. not from printing new tokens. from the buyback stash they already locked up.
i sat there reading this thinking ok where’s the catch. because there’s always a catch.
and yeah there is one. $SIGN has 97 million tokens unlocking every single month. thats not a small number. one buyback doesnt erase years of new supply coming to market. it buys time. thats it. maybe enough time for the government deals to kick in, maybe not.
Sign raised $41.5 million last year. they spent $12 million of that buying back their own token and giving it to holders. that either tells you the team genuinely believes in what they’re building or they’re really good at making people like me write posts at 1am.
i got into SIGN around 3 cents after going through all of this. small position. just enough that i check the chart every morning before i even check my messages. it’s been sitting flat and honestly i’d rather SIGN pick a direction already so i know if i was right or if i need to take the L and move on.
is Sign actually worth more than what the market is paying right now or did i just fall for a really convincing buyback story?