Solana founder Toly has suggested that instead of focusing on token buybacks, the crypto industry should build a long-term capital structure through staking mechanisms. Responding to a query from Jupiter co-founders on the X platform, Toly emphasized the difficulty of capital formation, noting that traditional finance often takes over a decade to accumulate significant capital. He proposed that staking, where participants willing to hold long-term can dilute the holdings of short-term holders, is a more sustainable approach. Toly explained that protocols could convert profits into assets claimable in tokens, encouraging users to lock and stake their tokens for extended periods to earn rewards. This approach, he argued, would allow the protocol's balance sheet to grow, benefiting long-term stakers with a larger share of equity. Addressing concerns about Delta Neutral short-selling arbitrage, Toly noted that the equity is tied to future profits, which would grow alongside the protocol's earnings.