LOOKS updated Tokenomics in October 2023

Protocol Rewards Update The LOOKS team has been using 50% of fees from new projects to buy back LOOKS, adding 1,800,000 LOOKS to our Treasury. Here’s the new fee distribution:

  • 50% to repurchase LOOKS
  • 10% for LooksRare Protocol Rewards
  • 40% to the Treasury

This ensures ongoing support for Protocol Rewards, possibly from other blockchains too.

:calendar: When? Fees will be added to Protocol Rewards starting October 1st, 9:00 AM (UTC).

What’s Ahead? We’re expanding in blockchain gaming with new products soon. All will boost Protocol Rewards.

End of Trading Rewards Trading Rewards end on October 1st, 9:00 AM (UTC). The reserved LOOKS will move to the Treasury for future incentives.

Why? To reduce daily sell-offs and better use LOOKS for new/existing projects

Sources: The BIG LOOKS Tokenomics Update | LooksRare Docs

Buy back policy is a good scheme for the price of LOOKS.

Yeah, it is a proactive approach.