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Yearn.Finance Token Jumps as Team Promises ‘Aggressive Buybacks’
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YFI, the governance token issued by the decentralized finance (DeFi) protocol Yearn.Finance, has seen its price almost double in a week following the announcement of a completed token buyback worth some USD 7.5m.
The buyback, which Yearn.Finance said made up 0.77% of the total supply of YFI tokens, was announced via the protocol’s Twitter account on December 16, with the team behind it saying that “more YFI has been bought back in the past month than in the prior year.”
Further, the team also stated that the latest buyback would not be the last:
“Now that the Treasury has more than USD 45 million saved up and with earnings stronger than ever, expect much more aggressive buybacks,” the team wrote in a follow-up tweet.
Since the news of the
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