TokenWorks Opens External FWA Purchases, 50% of Future Protocol Fees to Be Used for Buybacks

Odaily Odaily News: TokenWorks announced on the X platform that the initial distribution phase of Fake World Assets has been completed, and external purchases will officially open at 3:00 PM EST on August 4.

Previously, to prevent external capital from affecting the protocol's early development, Fake World Assets only distributed tokens to participants. TokenWorks stated that going forward, the 50% portion of protocol fees originally allocated to TokenWorks will be redirected to a buyback mechanism.

Under the new mechanism, tokens repurchased will be distributed proportionally: 70% to buyers, 10% to depositors, and 20% burned. Additionally, the platform will reduce the purchase fee from 5% to 2.5% and increase the depositor bid ratio from 85% to 90%.

TokenWorks stated that these parameters will be continuously adjusted based on protocol performance in the future to drive the protocol toward long-term sustainable development.