Buyback Radar

Venice VVV

ExpensiveRank#41▲2Score33

68.7× vs 20.2× for all tokens: 3.4× the median.

Farm, Base, 192 days of data

Market cap

$941.4M

price $18.68 · 7d −14.9% · 30d −16.5%

FDV $1.52B (1.6× market cap)

source defillama

Buyback revenue / year

$13.7M

holders revenue of the last 30 days, $1.1M, × 365 ÷ 30

Buyback + burnbuyback share 100%

Buys back 1.5% of its market cap a year, using 100¢ of every $1 it earns.

Multiple

68.7×

median of all tokens 20.2×, against 68.7× here

Run-rate

29.0×

last 7 days $624k × 52 = $32.4M a year

last week's payout to holders ran 2.4× the 30-day pace: the payout is speeding up

What we checked

  1. Valuation

    Multiple 68.7×, 3.4× more expensive than the median of all tokens (20.2×; its category is too small for a peer group). The group's largest earner Hyperliquid trades at 20.2×: 3.4× dearer per dollar returned to holders. On total revenue: 68.7×, 3.8× dearer than the revenue peer median.

  2. Distribution

    Buyback + burn: Revenue buys the token on the market and the bought tokens are burned. Holders got $1.1M of $1.1M revenue in 30 days → buyback share 100%. DefiLlama: “Pro subscription buy-back: ~$2 of VVV bought back and burned per new Pro signup ($1 at launch).”

  3. Sustainability

    Holders were paid on 30 of 30 days (100%); largest single day 43% of the month's holders revenue; paid to holders this week: 100% of the best week in 90 days. Revenue +299% over 7 days and +22% over 30 days, price −16% over 30 days.

What this does not tell you

The figures come from DefiLlama's adapter for each child protocol. Only a few tokens have an on-chain check (see How the buyback really works); for the rest, whether the tokens were really bought, burned or parked in a treasury wallet is not checked here. Unlocks count where DefiLlama or our research has a vesting schedule; team discretion and liquidity depth only once researched.

Flags

  • Small peer group51 peers in universe; median taken from the universe level

How the buyback really works

Researched Nov 1, 2026 · 3 wallets: 1 high, 1 medium, 1 low confidence

  1. The moneyPaid from ongoing revenue
  2. The buyerPartly automatic, partly up to the team
  3. The tokensBought tokens are burned

The project does not say what share of its revenue goes to buybacks; DefiLlama books 100% of its revenue as holders revenue.

On-chain: $1.1M bought back over 30 days = 100% of what DefiLlama reports for the same days.

Method: Base RPC eth_getLogs (publicnode): VVV sent to 0x0 by the burn executor 0x0178… and the burn Safe 0x35fb…. Checked November 12, 2026.

Red flags 7

  • Revenue is almost entirely off-chain (card, Coinbase Commerce, Stripe). It cannot be checked what share of revenue is actually spent; only the burns are visible.
  • The descriptions contradict each other. DefiLlama's calculation states a fixed amount per NEW subscription ($2/$5/$10, no burn on renewals) and says 'API credit / DIEM purchases ... do NOT trigger a programmatic burn'. The Venice blog of 2026-07-17, by contrast, says 'a share of every Pro, Pro+, and Max payment' and '$5 of every $100 of credits purchased' is burned. DefiLlama's calculation comment is therefore partly outdated (the measurement itself counts all burns).
  • DefiLlama's calculation counts every Transfer to 0x0 as a buyback, including burns that are not buybacks.
  • Part of it is discretionary: bulk burns from a Safe at the team's discretion, roughly monthly.
  • There is ongoing VVV issuance (3M per year, reduced to 2.5M as of 2026-09-01 and 2M as of 2026-10-01). That partly offsets the burns.
  • Execution sits with Venice's backend and Safe. There is no public, immutable buyback contract, and Venice does not publish an executor address.
  • According to Tokenomist only about a tenth of the claimed ~$150M annual revenue goes to VVV.
Buyback wallets 3
Sources 8

Open the buyback wallets in their explorer and look for regular purchases of the token.

Check it yourself (technical)

Base RPC eth_getLogs (publicnode works, blocks of 50k) or the Etherscan v2 API (chainid=8453): address=0xacfE6019Ed1A7Dc6f7B508C02d1b04ec88cC21bf, topic0=0xddf252ad...b3ef (Transfer), topic2=0x000...000, over 30 days (about 1.3M blocks). Sum the value (18 decimals) and value each burn at the price (DefiLlama coins API base:0xacfe...). Split by sender: 0x0178... is programmatic (subscription and credit burns), Safe 0x35fb... is discretionary. Own measurement for the 30 days to 2026-10-31: 173,791 burns, 25,696 VVV via 0x0178... plus 16,124 VVV in one bulk burn on 2026-10-07. The DefiLlama adapter fees/venice counts ALL transfers to 0x0 as holders revenue (30d about $1.04M according to the research).

Holders revenue / revenue (30d)
$1.1M / $1.1M
last 30 closed days
To holders
Buys back 1.5% of its market cap a year
FDV / dilution
$1.52B / 1.6×
FDV ÷ market cap
Price 7d / 30d
−14.9% / −16.5%
Revenue growth 7d / 30d
+299% / +22%
versus the period before
Divergence
0.38
revenue growth minus price growth, 30d
DEX liquidity
$12.0M
DexScreener, representative pools
24h volume
$23.9M
all markets, CoinGecko
Unlocks 30d
$5.8M
DefiLlama vesting schedule
Revenue multiple
68.7×
market cap ÷ revenue per year
Fee multiple
68.7×
market cap ÷ fees per year
Distance to peak
100%
this week ÷ best week of 90 days
Data since
May 4
first day with holders revenue

Holders revenue and price

Holders revenue per day7-day averagePrice (right axis)▲ ▼ signal days (history below)

Multiple over time

today 68.7× (scored) · peer median 20.2×

Market cap at close ÷ (holders revenue of the previous 30 days × 365 ÷ 30), with holders revenue capped at revenue and × the type factor: the same effective multiple as the peer median. Values above 100× are drawn at the top. Bands as on the meter; dashed line = peer median today.

Signal history

Signal history of this token: date, type, price at the signal, price after 7 and 30 days, change since the signal and the outcome
DateSignalPrice thenAfter 7dAfter 30dSinceOutcome
November 10, 2026Day jumpclosed Nov 11: REV $22.6k on 2026-11-10 below 1.5 × the old average $22.2k$19.97——−6%30-day check: day 2
November 7, 2026Sell signalclosed Nov 10: revenue no longer meets any of the sell rules$20.97——−11%30-day check: day 5

Versus peers

universe (whole universe) · 52 tokens (51 with a multiple) · median multiple 20.2× · Hyperliquid is valued 18.0× higher. Per dollar that counts for holders, Venice is 3.4× dearer.

Main-ranking peers only. Multiples count holders revenue capped at revenue, × the type factor (buyback 1 · buyback + burn 1 · burn 0.75 · mixed 0.75 · distribution 0.5 · unclear 0.5 · ve-distribution 0.25).

This token against its main-ranking peers: multiple, revenue multiple, buyback share, holders revenue, market cap and revenue growth
TokenDistributionMultipleRevenue multipleBuyback shareTo holders 30dMarket capRev. growth 30d
PaperStrategyBuyback + burn0.2×0.1×42%$780k$1.9M+17%
Pharaoh Exchangeve / bribes0.3×0.2×100%$1.3M$2.6M−52%
OTCBuyback + burn0.5×0.2×43%$292k$1.9M+111%
RamsesXMixed0.7×0.5×97%$368k$2.2M+8%
nestDistribution0.8×0.4×100%$869k$4.4M+32%
SaplingBuyback + burn0.9×0.7×82%$100k$1.1M−30%
ORE ProtocolBuyback + burn1.0×1.0×99%$4.3M$51.7M+37%
StonkFunBuyback + burn1.7×1.0×60%$1.7M$34.5M−88%
upve / bribes2.0×1.0×100%$313k$3.9M−68%
Fake World AssetsBuyback + burn2.4×1.7×80%$149k$3.9M−70%
THORSwapMixed3.7×2.1×75%$312k$10.4M+55%
MarinadeBuyback5.1×2.5×50%$193k$11.9M−13%
ChainflipBuyback + burn5.4×5.4×100%$520k$34.4M+59%
PonsBuyback + burn5.7×5.7×118%$1.7M$99.8M−84%
PumpBuyback5.8×2.6×44%$21.9M$1.54B−24%
UsualMixed6.3×3.3×70%$378k$21.6M+80%
Aerove / bribes8.7×4.0×96%$7.4M$372.0M−6%
Tornado CashMixed9.6×7.2×100%$278k$24.4M−21%
SSV NetworkMixed12.4×9.3×100%$275k$31.1M−10%
SparkBuyback13.0×3.7×29%$340k$53.8M+133%
LighterBuyback14.6×11.8×81%$4.4M$775.1M+14%
edgeXBuyback16.0×7.0×44%$622k$120.8M−43%
LidoBuyback18.6×6.2×34%$0$255.2M+6%
GeodnetBuyback + burn18.8×15.1×80%$744k$170.5M0%
PancakeSwapBuyback + burn19.5×12.8×65%$2.4M$563.6M−29%
HyperliquidleaderBuyback + burn20.2×20.2×100%$68.8M$16.94B−3%
BankrDistribution20.3×8.8×86%$237k$25.1M−85%
deBridgeBuyback20.8×15.6×75%$340k$86.1M−13%
ApeX ProtocolMixed21.2×15.9×100%$145k$28.2M−21%
Yield Basisve / bribes22.1×7.8×100%$148k$14.0M41.0×
SkyMixed26.7×8.4×42%$5.5M$1.34B−3%
RaydiumBuyback27.1×16.8×62%$1.3M$425.4M−65%
Curve Financeve / bribes29.3×11.1×94%$2.6M$374.4M+44%
Collector CryptBuyback + burn35.3×0.9×3%$392k$168.2M−5%
GMXDistribution37.0×13.5×73%$354k$79.6M+15%
Maple FinanceBuyback37.2×7.4×20%$326k$147.5M+14%
UniswapBuyback + burn37.3×37.3×100%$8.2M$3.71B−20%
Convex Financeve / bribes47.5×13.8×95%$881k$155.5M0%
OrcaBuyback47.8×7.9×16%$130k$75.6M−36%
AsterBuyback + burn50.2×∞—$2.8M$1.69B—
JupiterBuyback50.2×15.9×32%$1.4M$856.4M−32%
dYdXDistribution51.6×25.8×100%$240k$75.2M−15%
Venicethis tokenBuyback + burn68.7×68.7×100%$1.1M$941.4M+22%
KinetiqMixed84.8×37.3×59%$133k$103.2M−37%
RailgunDistribution86.5×28.1×66%$202k$116.7M−9%
Pendleve / bribes104×37.2×72%$411k$260.0M+39%
Render Network BMEBurn122×86.6×95%$751k$832.8M+240%
ChainlinkBuyback152×147×100%$4.3M$7.66B−2%
MeteoraDistribution180×5.2×18%$458k$161.9M−60%
NEAR ProtocolBuyback206×194×94%$1.8M$4.51B−18%
LiquityDistribution1.2k×8.2×80%$128k$15.8M+409%
BONK.funMixed∞11.7×95%$1.5M$233.7M−67%
Score build-up33 of 100

Total score = 35% valuation + 25% momentum + 20% divergence + 20% quality − penalties, clamped to 0–100. Every number here can be recomputed from the figures on this page.

33of 100#41▲2top 80% one or more parts are the neutral 50
Valuation 10.6Momentum 16.2Divergence 5.0Quality 15.8penalties −15= 32.6
Valuation35%
30Valuation 30.4: HR half 10.7 (multiple 68.65×; 100 at ≤3×, 0 at ≥100×, log scale), revenue half 50.0 (revenue peer group fell back to the universe → neutral 50; 0 at ≤0.33×, 50 at 1×, 100 at ≥3×, log scale).Average of two halves. HR half: linear in log(multiple), 100 at ≤ 3×, 0 at ≥ 100×, 0 without effective HR. Revenue half: linear in log(revenue peer value), 0 at ≤ 0.33×, 50 at 1×, 100 at ≥ 3×; neutral 50 when the peer group falls back to the universe.
Momentum25%
65Momentum 64.8: m = 0.5·g7 1.383 + 0.3·(ln(day jump 0.26) clamped ±1.5 = −1.352) + 0.2·g30 0.197 = 0.325; 0 at ≤−0.7, 50 at 0, 100 at ≥1.1.m = 0.5·g7 + 0.3·ln(day jump, clamped ±1.5) + 0.2·g30; 0 at m ≤ −0.7, 50 at 0, 100 at ≥ 1.1. Neutral 50 when g7 or g30 is missing; a missing day jump counts as 0.
Divergence20%
25Divergence 25.2: d = g30 − p30 = 0.377; 0 at ≤0, 100 at ≥1.5.d = max(0, g30 − p30) when g30 > 0; 0 at d ≤ 0, 100 at d ≥ 1.5, linear.
Quality20%
79Quality 79.0: mean of days HR>0 100% → 100.0 (0 at ≤30%, 100 at ≥90%), largest day 43% of HR30 → 36.9 (0 at ≥60%, 100 at ≤15%), distance to peak 1.00 → 100.0 (0 at ≤0.25, 100 at ≥0.9).Average of: share of days with HR > 0 (0 at ≤ 30%, 100 at ≥ 90%), 1 − largest day ÷ HR30 (0 at ≥ 60%, 100 at ≤ 15%) and distance to peak (0 at ≤ 0.25, 100 at ≥ 0.9).
  • Penalty −15 (unlocks_above_hr30): unlocks next 30d $5.76M above HR30 $1.13M.

Penalties−15

−15Unlocks in the next 30 days above HR30unlocks next 30d $5.76M above HR30 $1.13M

9 rules not applied, 3 wait for research data.

Where the numbers come from
Revenue source
1 active child
DefiLlama adapter per child
Price and market cap
defillama / defillama
latest fetch
Scored on
November 11, 2026
as-of date of the last compute run
On-chain verified
yes
checked Nov 12
Protocols behind this token1 at DefiLlama

Per protocol: DefiLlama's methodology text, the distribution type we read from it and the sentence that decided it. The token takes the type of the protocol that returns the most to holders.

  • Venice
    Farm · Base
    type buyback-burn · source label
    “Pro subscription buy-back: ~$2 of VVV bought back and burned per new Pro signup ($1 at launch).”

    USD value of VVV bought back and burned: programmatic per-subscription burns ($2 Pro / $5 Pro+ / $10 Max) plus discretionary revenue buybacks.

    Max subscription buy-back
    ~$10 of VVV bought back and burned per new Max signup.
    Pro subscription buy-back
    ~$2 of VVV bought back and burned per new Pro signup ($1 at launch).
    Pro+ subscription buy-back
    ~$5 of VVV bought back and burned per new Pro+ signup.
    Discretionary revenue buy-back
    VVV bought back and burned in bulk (~monthly) from accumulated platform revenue, not tied to a single subscription.
    adapter on GitHub ↗