The flywheel is spinning inside radFi, with all the outside being duty-free channels. Is this design meant to lock liquidity or intentionally leave a backdoor? NAV premium turns into a discount, playing out the classic DeFi script once again.

NodeStrategy drives a four-step flywheel with a 10% trading fee, with 90% of the funds going into the treasury for buybacks and token burns NODESTRAT, which theoretically increases as supply decreases. But this 10% tax can only occur in radFi/Bound, because Bitcoin Rune has no contract-based tax deduction, so external trades are fee-free, breaking the flywheel. Low trading volume, high tax burden, and limited buybacks prevent the price from rising through buybacks and supply reduction, causing NAV to be higher than market value but unable to be redeemed, resulting in a 0.46x discount.