Sky, which rebranded from Maker, has implemented a token buyback scheme since February, spending $75 million to enhance the value of its SKY token, resulting in an 8% price increase over six months. In August, Sky utilized 5.5 million USDS to repurchase 73 million SKY tokens, bringing its total buyback to 75 million USDS. The buyback initiated on February 24 started with $4.28 million and peaked in March, with $18.31 million spent. Since the buyback began, SKY rose from about 6.3 cents to over 6.85 cents, peaking at 9.6 cents in late July. Comparatively, tokens from other platforms like Uniswap and Aave have seen gains of 6% and 25.8% respectively in the same timeframe. The news coincides with similar initiatives from World Liberty Financial and Pump.fun, indicating a trend among crypto projects to recover token value through buyback strategies.

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