Ether.Fi DAO new proposal aims to launch a token buyback program of up to 50 million dollars

ChainCatcher news, Ether.Fi DAO has released a new proposal to authorize the foundation to use part of the treasury funds for ETHFI token buybacks.

According to the proposal, when the market price of ETHFI is below $3, the foundation may execute buybacks from the open market or designated on-chain venues, with a total amount cap of $50 million. The plan aims to continue accumulating ETHFI tokens and increase the proportion of protocol revenue used for buybacks when the price is below this threshold. All buyback transactions will be transparently recorded on-chain and publicly reported through the ether.fi dune dashboard. The proposal will be voted on the Snapshot platform for a period of 4 days, and will take effect immediately upon approval.