Fluid starts a buyback to create an on-chain reserve of FLUID tokens. 100% of the Ethereum mainnet revenue in the first month will be used for buybacks.

CoinFeed reported on October 7th that the lending protocol Fluid announced the creation of an on-chain reserve of FLUID tokens to guide its buyback and growth strategy. The team is developing a dedicated buyback and tracking system to determine the optimal percentage of protocol revenue allocated to buybacks. During this period, the DAO will adopt a transitional approach, allocating 100% of Ethereum mainnet revenue to buybacks in the first month (approximately $1.7 million at current levels). Buybacks officially began in the first week of October.