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.
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
Discussion in Bitforum: https://bitforum.net/t/looks-updated-tokenomics-in-october-2023/286/1
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