ChainCatcher report: The on-chain financialization experimental project TokenWorks has announced on X that the initial release phase of Fake World Assets has concluded, with tokens distributed to participants. External purchases will open on August 5 at 3:00 AM Beijing Time. Additionally, 50% of future protocol fees previously allocated to TokenWorks will be redirected to a buyback mechanism. Of the tokens acquired through buybacks, 70% will be distributed to purchasers, 10% to depositors, and 20% will be burned. The additional purchase fee has been reduced from 5% to 2.5%, and the depositor bid rate has increased from 85% to 90%. Purchase functionality will be paused from August 4, 9:00 PM to 12:00 AM to allow depositors to withdraw funds.
TokenWorks: Fake World Assets to Enable External Purchases on August 5
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Summary
TokenWorks has announced on-chain updates regarding Fake World Assets, concluding its initial release phase. Tokens have been distributed, and external purchases will open at 3:00 AM Beijing Time on August 5. The project now allocates 50% of protocol fees to a buyback mechanism, with 70% going to buyers, 10% to depositors, and 20% allocated for burning. Purchase fees have been reduced to 2.5%, while depositor bids have increased to 90%. The purchase function will be paused from 9:00 PM to 12:00 AM on August 4 to allow depositors to withdraw. This update aligns with the growing momentum of real-world assets (RWA) in the blockchain space.
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