Buyback Radar

edgeX EDGE

Sell signal activeRank#25▼4Score40

Sell signal since Nov 11. REV30 fell to 0.6× of the previous 30 days; REV ratio 0.9×, HR ratio 1.1×. Still open: gradual decline over 30 days still holds. See Signals.

Derivatives, edgeX L1, Ethereum, 192 days of data

Active signals 2

  • Sell signalsince Nov 11

    Revenue over 30 days $1.4M, 57% of the 30 days before ($2.5M).

    Gradual decline over 30 days: revenue this week $299k, 0.9× the week before, paid to holders 1.1× the week before. Still open: gradual decline over 30 days still holds.

  • Multiple below mediansince Oct 30

    Multiple 16.0×, below the 20.7× median of Derivatives (6 tokens).

Market cap

$120.8M

price $0.346 · 7d −2.4% · 30d +3.6%

FDV $341.8M (2.8× market cap)

source defillama

Buyback revenue / year

$7.6M

bought back on-chain over the measured window, per year: lower than the $7.6M DefiLlama counts, so the measured amount is used

Buybackbuyback share 44%

Buys back 6.3% of its market cap a year (measured on-chain), using 44¢ of every $1 it earns.

Multiple

16.0×

peer median 20.7× (Derivatives, 6 tokens), against 16.0× here

Run-rate

15.9×

last 7 days $146k × 52 × 1 (on-chain cap) = $7.6M a year

last week's payout in line with the 30-day pace

What we checked

  1. Valuation

    Multiple 16.0× (on the amount measured on-chain), 1.3× cheaper than its Derivatives peers (median 20.7×, 6 tokens). The group's largest earner Hyperliquid trades at 20.2×: 1.3× cheaper per dollar returned to holders. On total revenue: 7.0×, 1.7× cheaper than the revenue peer median.

  2. Distribution

    Buyback: Revenue buys the token on the market; the tokens stay in circulation (treasury, stakers or LPs). Holders got $622k of $1.4M revenue in 30 days → buyback share 44%. DefiLlama: “Fees going to governance token holders”

  3. Sustainability

    Holders were paid on 30 of 30 days (100%); largest single day 4% of the month's holders revenue; paid to holders this week: 95% of the best week in 90 days. Revenue −7% over 7 days and −43% over 30 days, price +4% 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

  • Sell signalactive since Nov 11; REV30 fell to 0.6× of the previous 30 days; REV ratio 0.9×, HR ratio 1.1×. Still open: gradual decline over 30 days still holds. See Signals

How the buyback really works

Researched Nov 1, 2026 · 3 wallets: 2 high, 1 medium confidence

  1. The moneyPaid from ongoing revenue
  2. The buyerThe team decides when and how much
  3. The tokensBought tokens are burned

The project does not say what share of its revenue goes to buybacks; DefiLlama books 44% of its revenue as holders revenue.

On-chain: $622k bought back over 30 days = 100% of what DefiLlama reports for the same days.

Method: Etherscan v2 getLogs: EDGE from the EdgexBridge 0x61a7… into the buyback Safe 0x221e…. Checked November 12, 2026.

Red flags 6

  • The purchase happens on edgeX L1 and is executed by the team. On Ethereum you only see bridged EDGE landing in a Safe multisig. That these are open-market purchases funded by revenue cannot be demonstrated.
  • There is no officially committed percentage. Secondary (partly AI-generated) sources mention '100% of net profit' at the V2 launch, but also 'a portion of trading fees'. The verifier could not find the wording 'repurchased by accumulative revenue' verbatim in the HTML of the tokenomics page.
  • DefiLlama counts every EDGE transfer to the Safe as a buyback.
  • The edgeX v1 adapter has deadFrom 2026-08-15. Revenue now comes from edgeX-v2, without holders revenue.
  • ~38% of revenue as buyback in Oct 2026 is far below the claim of '100% of net profit'.
  • Large unlock overhang: 65% of supply is locked according to the tokenomics page.
Buyback wallets 3
Sources 6

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

Check it yourself (technical)

Fetch the ERC-20 transfers of EDGE (0xb0076de78dc50581770bba1d211ddc0ad4f2a241) for address 0x221e7f... over 30 days, via Blockscout v2 /api/v2/addresses/{safe}/token-transfers?type=ERC-20&token=... (works without a key) or Etherscan v2 tokentx chainid=1. Sum (a) the inflow from EdgexBridge 0x61a7... and (b) the outflow to 0x...dead, and value at the daily price. Verifier check 1–31 Oct 2026: 1,418 inflow tranches, together ~1,785,051 EDGE (100% from 0x61a7...), and 30 burn transfers, together ~1,777,425 EDGE, to 0x...dead. The USD amount spent is not visible on Ethereum (the purchase happens on edgeX L1).

Holders revenue / revenue (30d)
$622k / $1.4M
last 30 closed days
To holders
Buys back 6.3% of its market cap a year (measured on-chain)
FDV / dilution
$341.8M / 2.8×
FDV ÷ market cap
Price 7d / 30d
−2.4% / +3.6%
Revenue growth 7d / 30d
−7% / −43%
versus the period before
Divergence
0.00
revenue growth minus price growth, 30d
DEX liquidity
$22k
DexScreener, representative pools
24h volume
$2.2M
all markets, CoinGecko
Unlocks 30d
$0
DefiLlama vesting schedule: nothing unlocks
Revenue multiple
7.0×
market cap ÷ revenue per year
Fee multiple
5.1×
market cap ÷ fees per year
Distance to peak
95%
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 16.0× (scored) · peer median 20.7×

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 12, 2026Sell signalactive$0.343——+1%30-day check: day 0
November 11, 2026New in top 20closed Nov 11: now ranked #21$0.347——0%30-day check: day 0
November 3, 2026New in top 20closed Nov 3: now ranked #21$0.333+16%—+4%30-day check: day 8
October 31, 2026Multiple below medianactive$0.345−7%—0%30-day check: day 11
October 31, 2026Sell signalclosed Nov 4: revenue no longer meets any of the sell rules$0.345−7%—0%30-day check: day 11

Versus peers

Derivatives · 6 tokens · median multiple 20.7× · Hyperliquid is valued 140.3× higher. Per dollar that counts for holders, edgeX is 1.3× cheaper.

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
LighterBuyback14.6×11.8×81%$4.4M$775.1M+14%
edgeXthis tokenBuyback16.0×7.0×44%$622k$120.8M−43%
HyperliquidleaderBuyback + burn20.2×20.2×100%$68.8M$16.94B−3%
ApeX ProtocolMixed21.2×15.9×100%$145k$28.2M−21%
GMXDistribution37.0×13.5×73%$354k$79.6M+15%
dYdXDistribution51.6×25.8×100%$240k$75.2M−15%
Score build-up40 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.

40of 100#25▼4top 48%
Valuation 22.1Momentum 7.5Divergence 0.0Quality 20.0penalties −10= 39.6
Valuation35%
63Valuation 63.1: HR half 52.3 (multiple 15.97×; 100 at ≤3×, 0 at ≥100×, log scale), revenue half 73.8 (revenue peer value 1.69×; 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%
30Momentum 30.1: m = 0.5·g7 −0.073 + 0.3·(ln(day jump 0.65) clamped ±1.5 = −0.435) + 0.2·g30 −0.561 = −0.279; 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%
0Divergence 0.0: d = g30 − p30 = 0.000; 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%
100Quality 100.0: mean of days HR>0 100% → 100.0 (0 at ≤30%, 100 at ≥90%), largest day 4% of HR30 → 100.0 (0 at ≥60%, 100 at ≤15%), distance to peak 0.95 → 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 −5 (dilution_above_2): dilution ratio 2.83 above 2.
  • Penalty −5 (team_discretion): buyback at the team's discretion.

Penalties−10

−5Dilution ratio above 2dilution ratio 2.83 above 2
−5Buyback at the team's discretionbuyback at the team's discretion

8 rules not applied, 2 wait for research data.

Where the numbers come from
Revenue source
2 active children
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 token2 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.

  • edgeX V2
    Derivatives · edgeX L1
    type unclear · source text
    “Fees going to governance token holders”

    Fees going to governance token holders

    adapter on GitHub ↗
  • edgeX Perps
    Derivatives · edgeX L1, Ethereum
    type buyback · source label
    “Token Buy Back: EDGE token buybacks funded by edgeX protocol revenue.”

    EDGE token buybacks funded by edgeX protocol revenue.

    Token Buy Back
    EDGE token buybacks funded by edgeX protocol revenue.
    adapter on GitHub ↗