TokenWorks opens external FWA purchases, with 50% of future protocol fees allocated to buybacks

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

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

Under the new mechanism, tokens acquired through buybacks will be distributed proportionally: 70% allocated to purchasers, 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 continue to be adjusted based on protocol performance in the future, to drive the protocol into a state of long-term sustainable development.