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Maple Finance mulls token buybacks

Maple Finance is considering using protocol revenues to buy back native SYRUP tokens and distribute them as rewards to stakers, the decentralized finance (DeFi) protocol said in a Jan. 13 governance proposal. 

The proposal, which awaits a tokenholder vote, would allocate 20% of Maple’s protocol revenues for monthly buybacks as an added incentive for stakers. Voting starts on Jan. 20, Maple said.

Buybacks would be sourced from decentralized exchanges (DEXs) and over-the-counter (OTC) trading desks. Maple has been earning around $5 million in annualized revenues from its onchain lending service as of Jan. 13, according to the proposal.

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Maple Finance mulls token buybacks

Maple Finance is considering using protocol revenues to buy back native SYRUP tokens and distribute them as rewards to stakers, the decentralized finance (DeFi) protocol said in a Jan. 13 governance proposal. 

The proposal, which awaits a tokenholder vote, would allocate 20% of Maple’s protocol revenues for monthly buybacks as an added incentive for stakers. Voting starts on Jan. 20, Maple said.

Buybacks would be sourced from decentralized exchanges (DEXs) and over-the-counter (OTC) trading desks. Maple has been earning around $5 million in annualized revenues from its onchain lending service as of Jan. 13, according to the proposal.

Read More: https://cointelegraph.com/news/maple-finance-preps-token-buyback