Resolv Foundation Launches Token Buyback Program Using 75% of Protocol Fees

The Resolv Foundation’s buyback program continues, with $170,000 used to acquire 1 million RESOLV tokens, marking the first buyback since activating its fee switch.

198d ago

Summary

The Resolv Foundation announced that its fee switch, activated on July 31, has generated $226,000 in fees. Of this, $170,000 has been used to buy 1 million RESOLV tokens at $0.16 each, initiating the foundation’s first buyback activity since enabling fees. The program allocates 75% of weekly fees to purchase and remove tokens from circulation.

Terms & Concepts

Token Buyback Program: A strategy where a project uses funds to purchase its own tokens from the market, typically to reduce supply and support token value.
Protocol Fees: Revenue generated by a blockchain protocol from various operations, often distributed or used for ecosystem development and governance.