Resolv Foundation Launches RESOLV Buyback Program, Over 1.04 Million Tokens Already Repurchased

Foresight News reports that the Resolv Foundation has announced the launch of a protocol revenue buyback program. The foundation will use protocol revenue to repurchase RESOLV tokens on the open market each week, transferring the repurchased tokens to the foundation treasury and removing them from circulation.

Since gradually enabling the fee switch on July 31, Resolv has generated $226,000 in core protocol fees. Approximately 75% of this amount has already been used for the initial buyback, with around $170,000 spent to purchase 1,046,699 RESOLV tokens at an average price of about $0.16 per token. The buyback ratio will be dynamically adjusted based on market conditions and growth targets.

Since July 1, Resolv has accumulated over $380,000 in revenue, with projected annualized revenue of approximately $7.3 million. The main sources of income are staking pool revenue sharing, partner incentives, and other services. The foundation stated that the buyback program aims to establish a long-term link between protocol usage and token value, reduce circulating supply, and support sustainable ecosystem development. Relevant data will be transparently disclosed on-chain and via the Dune dashboard.