Treehouse launches token buyback plan, will use tETH earnings to buy back TREE
According to DLnews, the DeFi protocol Treehouse announced that it will use 50% of the fees earned from its fixed income Ethereum product tETH for regular buybacks of its native token Tree. CEO Brandon Goh stated that this is a fundamental step to strengthen the financial foundation of the DAO, aimed at establishing sustainable demand for Tree.
Since the announcement, the price of the Tree token has doubled, but it is still 35% lower than the August high of $0.4.
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