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Saros Foundation Initiates Quarterly Token Repurchase Plan, Purchases 100 Million SAROS in First Phase
Summary: According to The Block, decentralized trading protocol Saros has announced the launch of a long-term token repurchase plan, purchasing 100 million SAROS tokens (approximately $38 million) in the first phase. The foundation stated that the recent increase in token price is partly due to ongoing repurchases, with 20% of protocol revenue to be used for ...
According to The Block, decentralized trading protocol Saros has announced the launch of a long-term token repurchase plan, purchasing 100 million SAROS tokens (approximately $38 million) in the first phase. The foundation stated that the recent increase in token price is partly due to ongoing repurchases, with 20% of protocol revenue to be used for repurchases every quarter, with the scale gradually expanding as revenue grows. The repurchase funds are entirely sourced from protocol revenue, aimed at returning the value of ecosystem development to the community. Saros has committed to releasing transparent repurchase progress reports annually and plans to expand the utility of SAROS tokens in staking incentives, governance, and other scenarios.
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Link: Saros Foundation Initiates Quarterly Token Repurchase Plan, Purchases 100 Million SAROS in First Phase [Copy]
