Sky Protocol has significantly expanded its buyback program in 2025, increasing from approximately $370,000 to nearly $100 million, marking a 261-fold year-over-year increase. The protocol has cumulatively repurchased nearly $100 million worth of SKY tokens. Additionally, the circulating supply of SKY tokens decreased from about 23.41 billion in Q3 2025 to approximately 22.94 billion in Q4 2025.