Symbiosis Finance, a multi-chain liquidity protocol that unifies liquidity from different blockchain networks, today announced another token buyback initiative after completing the recent program early this week, on Monday, March 30. Early last month, the DeFi platform announced a buyback program, a bold move aimed at restoring momentum and confidence in its crypto market and its native token, Symbiosis (SIS). Crypto platforms often utilize the buyback program to decrease the circulating supply of tokens, increase scarcity, and boost investor confidence.
Symbiosis Finance is a DeFi cross-chain non-custodial liquidity platform that enables token swaps across various blockchain networks. Through this approach, the protocol resolves the DeFi liquidity fragmentation problem by connecting multiple chains in a unified hub, allowing users to seamlessly move assets without managing several wallets or bridges.
Symbiosis Resumes Buyback Program
Based on a post shared recently on the X social media platform, Symbiosis has been executing an important buyback program since early last month. The protocol allocated an undisclosed percentage of rewards from its PoS consensus mechanism to repurchase SIS tokens between March 1 and 30, 2026. Symbiosis’ proof-of-stake (PoS) mechanism allows users to stake tokens to ensure robust security in its network and, as a result, earn rewards. Based on a governance proposal passed recently, Symbiosis allocated a percentage of PoS rewards to SIS token buybacks during the entire last month.
Today, in its fresh X post, Symbiosis announced another buyback program, which is now funded directly from its protocol revenue, not from its PoS distribution as highlighted above. The protocol announced another approved proposal to redirect a significant percentage of its protocol revenue towards monthly token repurchases, aiming to align its Symbiosis token with the chain’s growth trajectory.
And What Is The Result? Price Analysis
Symbiosis joins the ranks of an increasing number of crypto platforms utilizing protocol revenues to improve the value of their tokens. Mostly include Hyperliquid and Pump.Fun, which executed their buyback programs in September and October last year, respectively.
The result of Symbiosis’ recent buyback program can be seen in the token movement currently. Today, SIS trades at $0.04956, after experiencing a remarkable 28.5% rise over the past 24 hours, making it one of the top crypto gainers today, according to CoinMarketCap data. Furthermore, its price has been up 99.1% and 62.0% over the past week and month, respectively, as per data from CoinGecko.
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