The Ether.fi Foundation confirmed its intent for token buyback and burning, allocating 73 ETH to acquire 264,000 ETHFI tokens.
ETHFI Token Buyback
The Ether.fi Foundation purchased 264,000 ETHFI tokens using 73 ETH, valued at approximately $314,000. This information was published on the foundation's official Twitter account.
Token Burning Strategy
As part of the operation, 155,000 ETHFI tokens were burned, significantly reducing the available supply, while 108,000 tokens were distributed to sETHFI holders.
Market and Implications
The immediate market effects may include a potential rise in ETHFI token value due to increased scarcity. Community response is a critical aspect, and the foundation's transparency in token management aligns with its strategic goals.
The buyback and burn strategy announced by the Ether.fi Foundation may set a positive precedent for token management within DeFi ecosystems, generating holder interest and fostering trust in the project.
