Yesterday, @grvt_io’s official Twitter post, in plain terms, announced plans to launch a new product and repurchase their own token ethereum:0xad29f2723fcdbcf665f210f25e06f97477e417cf. The new product is related to TradFi—meaning perpetual contracts on stocks, forex, commodities, and indices, a key focus area for many PerpDEXs after their TGE due to strong user demand. They plan to repurchase 1.1 million ethereum:0xad29f2723fcdbcf665f210f25e06f97477e417cf tokens, approximately 1% of the circulating supply. The post states that the team will conduct monthly repurchases going forward. As I mentioned in my earlier research, teams willing to repurchase tokens demonstrate they have financial resources and that their product generates sustainable long-term revenue. Keep an eye out for details on their upcoming Grvt 2.0 product launch in November.
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