Cryptocurrency exchange Binance has announced a buyback program for Haedal Protocol (HAEDAL), a liquid staking protocol built on the Sui blockchain, which is Binance Alpha’s project and was first listed on Binance.
HAEDAL has announced the launch of a buyback program designed to reward its stakers.
Under the initiative, 50% of the protocol’s weekly revenue (including liquid staking fees, HMM fees, and haeVault profits) will be used to buy back HAEDAL tokens from secondary markets.
All repurchased tokens will be distributed weekly and proportionally to HAEDAL stakers.
The team stated that they wanted to establish an organic and sustainable cycle where ecosystem growth translates into tangible benefits for long-term and loyal investors.
” BIG ANNOUNCEMENT: HAEDAL's Buyback Program Begins!
We are giving double support to YOU, our community! We are introducing the BUYBACK program, which turns the profits of the Haedal protocol into rewards for loyal HAEDAL users.
There are no tricks. This is how we reward long-term believers. Let's get started!”
Finally, the team stated that this program is not a one-time program and will be ongoing.
Following the news, the price of HAEDAL rose.
*This is not investment advice.
