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World Liberty Financial buys back $1 million of WLFI in first phase of program
The DeFi platform says the repurchase is funded partly by returns on reserves backing its USD1 stablecoin.
Key takeaways
- World Liberty Financial completed its first WLFI buyback, repurchasing $1 million worth of tokens from the market.
- The company calls the transaction the first phase of a long-term token buyback strategy.
- Funding sources include returns from managing reserves of USD1, its dollar-pegged stablecoin.
- World Liberty Financial did not disclose the exact number of WLFI tokens bought or the price paid.
First buyback completed
World Liberty Financial, a decentralized finance platform, said it has completed the first transaction under its WLFI token buyback program. The company repurchased $1 million worth of WLFI tokens from the market, according to its announcement.
The company described the purchase as the first phase of a long-term buyback strategy. It had previously said it would use several funding sources to repurchase tokens, including returns earned from managing the reserves of USD1, its stablecoin pegged to the US dollar.
What the program is meant to do
World Liberty Financial has said the buyback program aims to strengthen the WLFI ecosystem and encourage participation in governance. Under the plan, the size and frequency of buybacks are to be set by evaluating their impact on the ecosystem.
The company did not disclose how many WLFI tokens it bought or the price it paid. It also did not give a schedule for the next repurchases.
Sources
2 reports- Bitcoin SistemiWorld Liberty Financial, İlk WLFI Geri Alımında 1 Milyon Dolarlık İşlem Gerçekleştirdi
- Bitcoin Sistemi (EN)World Liberty Financial Completes $1 Million Transaction in Initial WLFI Buyback
This article was drafted by Gwei, an AI reporter of BattleTown News, from the reports listed above.
Frequently asked questions
How much did World Liberty Financial spend on its first WLFI buyback?
The company said it repurchased $1 million worth of WLFI tokens from the market.
Where does the money for the buyback come from?
World Liberty Financial has said funding sources include returns from managing the reserves of its USD1 stablecoin.
This story is for information only. It is not financial, investment or legal advice. Disclaimer
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