TechFlow News — The Frax Finance community voted in favor of a governance proposal to repurchase 20 million FRAX worth of FXS tokens. The repurchased tokens will be either burned, allocated to veFXS yield, or retained in the treasury, with the final disposal method to be decided through a subsequent vote.
On June 8, Frax Finance co-founders Sam Kazemian and Travis Moore introduced the governance proposal, arguing that FXS is currently undervalued and that a buyback represents the optimal use of capital or profits at this time.
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