DappRadar DAO is excited to share that the first RADAR token buyback has been completed, driven by the DappRadar DAO revenue generated through the DappRadar platform. RADAR buybacks take place on the open market, reduce circulating supply, strengthen the RADAR economy and ultimately benefit the entire DappRadar community.
Success and revenue generated through the DappRadar platform directly impact RADAR, turning achievements into value for token holders through buybacks. Various revenue streams contribute to the size of the buybacks, including revenue from token swaps, referrals, and quests.
Buybacks not only show commitment to the RADAR ecosystem, but moreover fortify the financial backbone of DappRadar DAO. The first buyback has taken place, and DappRadar DAO purchased 5.5 million RADAR from the open market on Ethereum, for $38,000, with an average price of $0.0065. The DAO will execute more buybacks in the future, and with each buyback the circulating supply of RADAR tightens, aligning DappRadar’s business success with the goal for a healthy token economy.
For this first buyback event:
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ETH spent: 11.12854715 (~$38,500 at the current price)
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RADAR purchased: 5,713,273 (~$38,370 at the current price)
The DAO purchased RADAR over a period of time. The time-weighted average price (TWAP) order was spread out over 24 hours. The DAO used CoW Swap to execute the TWAP order, while the average RADAR price for this purchase was $0.00677.
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 buybacks will happen without advance notice to avoid market speculation. These buybacks are currently managed by the DAO core team, and the buyback process needs to decentralize in the future. This shift symbolizes our shared commitment to the vision of the community-owned World’s Dapp Store.
RADAR token revenue streams
DappRadar DAO already has various revenue streams on the DappRadar platform, and more will be added in the future. Portions of these revenue streams will be used for buybacks. For now, the following revenue streams contributed to this first RADAR token buyback.
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Token swap - fees generated through token swaps and bridges taking place on DappRadar, powered by LIFI Protocol.
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Referrals - revenue generated by bringing legitimate users to various dapps and ecosystems
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Quests - revenue generated from the Quests platform, including the multiplier and future additions.
More revenue streams will be added as the DappRadar platform develops and grows.
Closing words
The RADAR buyback program underlines the DAO’s commitment towards creating a healthy RADAR token economy. Success of the platform now reflects on the entire community, benefiting every token holder, liquidity provider and DappRadar PRO member. With the first buyback completed, the community can prepare for a new era where the DAO, the DappRadar platform and its users are all aligned through RADAR.