I’m increasingly convinced that, in the future, token burning will evolve from a value-add feature of a few projects to a standard component of many token economic models. The reason is straightforward: By now, the market is no longer willing to pay solely for “governance rights.” Protocols generate revenue, but token holders see no benefit; Businesses grow, yet token supply continues to expand; This model struggles to sustain valuation over the long term. Moving forward, what truly matters isn’t just how much a project earns—but whether that revenue can be channeled back to the token through buybacks, burns, or dividends. UNI has already demonstrated that the mere expectation of burning can rapidly reshape market pricing for token value capture. AAVE is now moving in the same direction. If this trend continues to spread, the key question many projects will eventually need to answer may become: If the protocol is profitable, why shouldn’t the token benefit too?