After BNB changed its automatic buyback model, is the current buyback too low? @Yi He

As a BNB holder, I compared the buyback data of BNB and OKB. It is well known that due to a lack of public disclosure, it is difficult to estimate the income of major exchanges, which makes it hard to know whether their buyback commitments for platform tokens are fully met. According to public data, the destruction amount of OKB in the past year was nearly 60 million, and currently, there are about 160 million remaining, with a destruction rate of 27.3%. The destruction amount of BNB in the past year was about 7.5 million, and currently, there are about 146 million remaining, with a destruction rate of 4.89%. Of course, due to the different prices of the two, the different destruction rates can be understood. But looking at the most recent quarter, OKB destroyed 18 million, with a total value of about 900 million USD, while BNB destroyed 1.77 million, with a total value of about 1.07 billion USD. Whether from market share or industry position, OKX's revenue should be much lower than Binance's, yet the current buyback amount is close, which is somewhat incredible!

BNB initially promised to use 20% of its revenue to buy back BNB, stopping after destroying 100 million, and later changed to an automatic buyback model; OKB promised to use 30% of its revenue to buy back OKB, with no buyback limit. From the model, it seems that OKB is more sincere? I don't quite understand why BNB would set a buyback limit, what is the motivation behind it?

It is understandable that BNB adopts an automatic buyback to avoid the intention of insider trading. But now, with the significant difference in industry status between the two, and the buyback amounts of BNB and OKB being close, should we consider whether the parameters of BNB's automatic buyback model are unreasonable? Is it close to the standards that BNB initially promised? Should we consider increasing the buyback? At the current buyback speed of BNB, it is estimated that in about 5 years, the BNB buyback will terminate; should we consider the rationality of setting a buyback limit?

It should be emphasized that I did not take into account BNB's launchpad and holder airdrops; in the past year, there has almost always been a return on investment exceeding 1% in each period, and there have been so many periods. If this part is included, BNB's return is also very high.