World Liberty Financial will launch a WLFI token buyback and burn after a 41% price drop in September, aiming to cut supply and stabilize value.
The Trump family-backed decentralized finance (DeFi) project World Liberty Financial will launch a token buyback and burn program this week after WLFI tokens lost 41% of their value in September.
On Friday, World Liberty announced that its team will implement the token buyback and burn mechanism this week. The project said the initiative would be publicly disclosed, promising to share updates on each buyback and burn once they are conducted.
Token buybacks and burning mechanisms are usually implemented to absorb selling pressure when prices drop. Buybacks are when companies repurchase their tokens, while burning sends the tokens to an unusable address. The mechanisms essentially lower the amount of tokens circulating in the market.
