Recent analysis reveals a fundamental flaw in the timing of current token buyback programs in crypto protocols. Instead of distributing funds strategically during periods of lower market activity, these programs often overspend during peak demand and starve the market of liquidity at low prices. The study, by anonymous contributor Infra, highlights this issue through its Aug. 26 report shared on X, detailing how revenue-based buyback models create counterproductive timing patterns. The report suggests a shift toward maker-based approaches and temporal smoothing techniques to address these inefficiencies. These models focus on adding liquidity directly rather than simply taking it, thereby improving execution and mitigating volatility.