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The Ether.Fi $50 million buyback plan has been approved, with a trigger price of $3.
PANews, November 5th news, according to the Snapshot page, the Ether.Fi DAO has passed the “ETHFI Buyback” proposal, authorizing the foundation to execute buybacks on the open market or designated on-chain locations when the current price of ETHFI is below $3, with a total cap of $50 million. The buyback is effective immediately until the cap is reached, the foundation announces its conclusion, or subsequent governance voting adjustments are made. The foundation may increase the proportion of protocol revenue used for buybacks while the price is below $3, and all transactions will be recorded on-chain and made public on the Dune dashboard. Voting results: In favor 99.32% (approximately 5.1 million votes), against 0.68% (approximately 34,700 votes), quorum 512%.