Although Synthetix announced the suspension of the SNX buyback and burn plan to support the sUSD debt destruction, benefiting V2 SNX stakers and V3 SNX liquidity providers, this move may have a negative impact on the long-term value of SNX.

Lack of deflationary mechanism: Buybacks and burns are important means to reduce token circulation and enhance token value. Suspending this plan means that SNX will lose an important deflationary mechanism, potentially leading to an increase in token supply and diluting the value of existing holders.

Lack of incentives for long-term holders: While the sUSD debt destruction is beneficial for V2 and V3 users, this measure may not attract new investors or incentivize holding SNX in the long term.

Market sentiment: The suspension of the buyback and burn plan may be interpreted by the market as a negative signal, prompting investors to sell SNX, leading to a price decline.