The Saros Foundation has launched a quarterly token buyback program, with the first phase purchasing 100 million SAROS

ChainCatcher news, according to The Block, the decentralized trading protocol Saros has announced the launch of a long-term token buyback plan, with the first phase purchasing 100 million SAROS (approximately 38 million USD).

The foundation stated that the recent increase in token prices is partly due to ongoing buybacks, and in the future, 20% of the protocol's revenue will be allocated for buybacks each quarter, with the scale gradually expanding as revenue grows.

According to the announcement, the buyback funds will be entirely sourced from the protocol's revenue, aiming to feedback the ecological development value to the community. Saros promises to release a transparency report on buyback progress annually and plans to expand the utility of SAROS tokens in scenarios such as staking incentives and governance.