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Fluid initiates buybacks to create FLUID token on-chain reserves, with 100% of Ethereum Mainnet revenue in the first month used for buybacks.
Foresight News reports that the lending protocol Fluid has announced the creation of an FLUID token on-chain reserve, guided by a buyback and growth strategy. The team is developing a dedicated buyback and tracking system to determine the optimal proportion of the protocol's revenue to be used for buybacks. During this period, the DAO will take a transitional approach, using 100% of Ethereum Mainnet revenue for buybacks in the first month (approximately $1.7 million at current levels). The buyback officially began in the first week of October.