Announcement on First Repurchase of ROO and Liquidity Addition
On July 20, 2021, the RooLend.Finance implemented the first repurchase operation. RooLend repurchased 29,600 ROOs from the secondary market, worth 500 USDT, and the repurchased ROOs have been used to add liquidity on PuddingSwap, with a total fee of 1,021 USDT.
According to the white paper, the platform’s fee will be used to repurchase ROO for adding liquidity or destruction. At the initial stage of the project, the team believes that adding liquidity is beneficial to the project’s development. Later, the repurchase and destruction operation will be carried out according to the progress of the project. After the establishment of the DAO organization, the use of the fee will be determined by the DAO organization through voting.
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