Dive into World Liberty Financial's (WLFI) token buyback strategy after a Trump family-backed crypto project faced a price slump, aiming to stabilize value through deflationary tactics.
World Liberty Financial (WLFI), a DeFi project with ties to the Trump family, saw its token value plummet. Now, they're turning to token buybacks to try and pump the price back up. Let's break down what's happening.
What's the Deal with WLFI?
So, WLFI had a rough September. The token's price nosedived by 41%, dropping from a high of $0.33 to around $0.19. Ouch! To combat this, the project's leaders decided to implement a buyback and burn mechanism.
Buyback and Burn: Crypto Jargon Explained
Here's the gist: WLFI uses fees from its liquidity pools on Ethereum, BNB Chain, and Solana to buy back WLFI tokens on the open market. Then, they send those tokens to a
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