WLFI said it is launching a new $WLFI token buyback program, citing the performance of its $USD1 stablecoin and the growth of the wider ecosystem, according to an announcement on its X account.
The project plans to fund the buybacks with an initial allocation that may include fees earned from USD1 reserves as well as other sources. WLFI said it will begin with that initial allocation and evaluate the program over time, without disclosing a size, timetable or price target.
WLFI said the aim is to encourage active participation in its governance and to consolidate voting power among its most committed long-term holders.
The project said it intends buybacks to be an ongoing part of its long-term strategy, with the pace and scale guided by ecosystem growth and the impact on governance participation.