Before the TGE at Sign, I had a chat with the founder Yanxin on a podcast where we discussed product innovation, fundraising experiences, and how to build a good community. At that time, I felt a bit nostalgic, as there are very few projects in this industry that have products, revenue, and a community, and Sign is one of them. The flagship product TokenTable achieved $15 million in revenue in 2024, which is an excellent accomplishment. I mingle in Sign's WeChat community, and this "Orange Dynasty" always has a certain magic, with memes and songs flowing continuously; it seems that everyone isn't too concerned about the token price, which hasn't changed much since before the TGE. So today, when I saw @sign announce the buyback of $12 million worth of tokens, I was quite surprised. In my inherent impression, teams that use real money for token buybacks are mostly large exchanges like BNB and OKB, or leading protocols like AAVE; it's rare for web3 application-level projects to do such things. Yanxin and his team must have strong confidence in Sign. Last December, Sign used company profits to buy $10 million worth of Bitcoin. Yanxin tweeted at that time that they would use profits to buy back Sign tokens in the future (a month has passed, and this promise was fulfilled today). The announcement mentioned that the repurchased tokens would have three main uses, and here are my speculations: ◦ Collaboration with listed companies: This is the most imaginative point; the integration of tokens and stocks is a hot topic now. What would happen if a listed company bought into Sign? ◦ Promoting more exchange listings: The next one should be Coinbase. ◦ Expanding the community: Previously, Yanxin mentioned in the podcast that he hopes to turn Sign into a framework-level protocol, leading the community to gain more returns. So this buyback might also allocate some tokens to reward the community. I hope the industry sees more projects like Sign that are solidly building products with PMF, have robust commercialization capabilities, and possess a good community vibe. Attached: The podcast I had with Yanxin in February this year.