DappRadar DAO bought 8.498 ETH worth of RADAR from the open market
DappRadar DAO has performed a 5.13 million RADAR buyback, purchasing over $33,000 worth of $RADAR tokens spread out over the weekend of 14 and 15 December. The average purchasing price is around $0.0063.
After the first buyback in July 2024, DappRadar DAO has now performed a second RADAR token buyback. Buybacks don’t only show our commitment to what we’re building, but it fortifies the financial backbone of DappRadar DAO.
Success and revenue generated through the DappRadar platform directly impact RADAR, turning achievements into value for token holders through buybacks. Funds for this buyback comes from various income sources of DappRadar DAO. This includes for example revenue share deals, income from developer priority fees and Quest power ups, and validator rewards.
A total of 5.13 million RADAR has been acquired from the open market, using 8.498 ETH. The purchase was done through CoW Swap, using a time-weighted average price order over a 24 hour period. As a result, the average purchasing price of RADAR was around $0.0063.
What we will do with the buyback
After each buyback, DappRadar DAO will lock the RADAR tokens for a period of 6 months. After the locking period, RADAR flows back into the community through quest rewards, contribute-to-earn distributions, the ambassador program, and other community-oriented initiatives.
Future RADAR buybacks
The DAO will execute more buybacks in the future, tightening circulating supply and aligning our business success with a healthy token economy. We do not communicate about buybacks before they’ve taken place in order to avoid market speculation.
