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Ether.fi DAO has proposed to use \$50 million to buy back ETHFI
BlockBeats News, October 31st, according to The Block, the Ether.fi community has proposed a plan to allocate up to 50 million US dollars from its treasury for the repurchase of ETHFI tokens, to be executed when its trading price falls below 3 US dollars, making it the latest major DeFi protocol to adopt a buyback strategy as a liquidity and price support tool. According to a governance proposal released on Thursday, the plan authorizes the Ether.fi Foundation to conduct open market purchases of ETHFI when the spot price is below 3 US dollars.
As of October 31st, ETHFI has dropped over 89% from its 2024 high, with a trading price of around 0.93 US dollars, located within the proposed buyback range. Buybacks have become the preferred method for protocols with significant fee revenue but soft secondary market demand, a practice similar to traditional corporate finance strategies. However, Ether.fi's strategy directly ties the trigger conditions to a price threshold, rather than a fixed time interval or budgetary plan.
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