PieDAO proposes token buyback after ending liquidity mining pr | Trade Crypto Now

PieDAO proposes token buyback after ending liquidity mining program

DeFi yield platform PieDAO has filed a proposal to its community for a phased buyback of its tokens, after ending the protocol’s liquidity mining program in October. The goal is to prevent a further price decline — although the token is already down 98%.

PieDAO’s liquidity mining program incentivized those providing liquidity on the platform with tokens. Some of these tokens were liquid while the majority were subject to a one-year vesting schedule. Token emissions used to reward liquidity providers increase the number of the protocol’s tokens in circulation, hence why they often lead to a decline in price over time. In PieDAO’s case, the DOUGH price declined 98% during its liquidity mining program.

Source

@TradeCryptoNow