The deBridge Foundation has launched a reserve fund with plans to use all protocol revenue to repurchase its native governance token, $DBR, on the open market. Since its launch in June of this year, the fund has repurchased 1.3% of the total supply of 10 billion tokens, worth approximately $3.00 million. The fund is now merged with deBridge's total asset pool, with total holdings including $DBR, USDC, SOL, and ETH, with a total market value of approximately $30.10 million. The fund also implements yield strategies, utilizing platforms such as $Aave, Lido, and Kamino Finance to generate returns on idle assets, and has launched an on-chain real-time public dashboard to increase transparency. [TheBlock]
The deBridge Foundation has launched a reserve fund with plans to use all protocol revenue to repurchase its native governance token, DBR, on the open market. Since its launch in June of this year, the fund has repurchased 1.3% of the total supply of 10 billion tokens, worth approximately $3.00 million. The fund is now merged with deBridge's total asset pool, with total holdings including DBR, USDC, SOL, and ETH, with a total market value of approximately $30.10 million. The fund also implements yield strategies, utilizing platforms such as Aave, Lido, and Kamino Finance to generate returns on idle assets, and has launched an on-chain real-time public dashboard to increase transparency. [TheBlock]