- Buy Crypto
- Markets
- Futures
- Spot
- Copy Trade
WE-Launch
Ether.fi DAO has proposed to use \$50 million to buy back ETHFI
BlockBeats News, October 31st, according to The Block, the Ether.fi community has proposed a plan to allocate up to 50 million US dollars from its treasury for the repurchase of ETHFI tokens, to be executed when its trading price falls below 3 US dollars, making it the latest major DeFi protocol to adopt a buyback strategy as a liquidity and price support tool. According to a governance proposal released on Thursday, the plan authorizes the Ether.fi Foundation to conduct open market purchases of ETHFI when the spot price is below 3 US dollars.
As of October 31st, ETHFI has dropped over 89% from its 2024 high, with a trading price of around 0.93 US dollars, located within the proposed buyback range. Buybacks have become the preferred method for protocols with significant fee revenue but soft secondary market demand, a practice similar to traditional corporate finance strategies. However, Ether.fi's strategy directly ties the trigger conditions to a price threshold, rather than a fixed time interval or budgetary plan.
You may also like
Gainers
Latest Crypto News
The probability of a 25 basis points interest rate cut by the Federal Reserve in December has risen to 71.3%, reigniting speculation about a rate cut.
There will be no CPI release in October, and the November CPI will be published on December 18th.
Analysis: Watch out for the $82,000 Long Line of Defense. If breached, market makers will sell spot to hedge, leading to accelerated downside pressure.
Mainstream Perp DEX Protocol Revenue Surge: Hyperliquid Leads with $4.24M in 24-hour Revenue
<span>The Nasdaq turned down by 0.2% intraday, while <i>crypto-related</i> stocks across the board were hit hard.</span>
Customer Support：@weikecs
Business Cooperation：@weikecs
Quant Trading & MM：bd@weex.com
VIP Services：support@weex.com
App