Sui implements daily open-market SUI buyback funded by stablecoin yield revenue
Sui has implemented a daily open-market SUI buyback program funded by revenue from stablecoin yield. Since June 22, the program has deployed approximately $260k across 45 sessions. Multiple independent sources confirm the buyback implementation and its funding mechanism.
Detected & updated continuously · Source: Nebula
Sources
@MinusWells
Sui buys its own coin every day because they believe in their future compared to many that only see their holdings as a source of income Revenue from stablecoin yield funds a daily open market SUI buyback. Since Jun 22 the program has deployed ≈ $260k across 45 sessions and https://t.co/RWm3u3ZiVL
@CryptoKaleo
Reminder that $SUI just implemented buybacks with their revenue generated from stablecoins… E.g. rather than that money going into the pockets of tether, circle, etc. it goes toward buying back SUI And p2p stablecoin txs are natively free Making the incentive to use them even