Am I correct in thinking that one of the nuances of why HYPE's buyback has been so effective is that its been executing buys as top of the order book limit orders?
Looking around at buybacks right now and even GMX had to use AMMs for their buybacks, RAY programmatic as well into their AMM. RAY even experimenting with single sided liq for their buyback to basically get a pseudo top of book order. JTO using AI agents for their buyback (??? not a clue what that means in practice). All have been less effective than HYPE.
If half of the buyback is signalling that you are aligned, and you believe that HYPE's method is best, wouldn't the best outcome be to execute the same as HYPE using a performant spot CLOB where users can see your orders?
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