EthereumFi Community Proposes Governance to Increase Monthly ETHFI Buyback Rate
CryptoNewsTerminal Staff08 Aug, 2024
EthereumFi Community Proposes Governance to Increase Monthly ETHFI Buyback Rate
The EthereumFi (ETHFI) community has initiated a governance proposal to increase the monthly ETHFI buyback rate. The proposal suggests an increase in the monthly buyback rate from the current 5% to a maximum of 25%. The EthereumFi community is a group of ETHFI holders who are responsible for the governance of the protocol. The community votes on proposals that affect the protocol, such as changes to the buyback rate. The buyback rate is the percentage of ETHFI tokens that are bought back from the market each month. The buyback program is designed to reduce the circulating supply of ETHFI tokens, which can help to increase the value of the token. The community is considering increasing the buyback rate to help accelerate the growth of the ETHFI ecosystem. The increased buyback rate would allow the protocol to acquire more ETHFI tokens, which could help to increase the liquidity of the token and attract more users to the platform. The governance proposal is currently open for voting. The community has until March 10th to vote on the proposal. If the proposal is passed, the new buyback rate will go into effect on April 1st.
