Metaplex bought back ~$1M of MPLX in July
the DAO now holds ~25% of the total supply
Again, this is the company that powers like 99% of the backend tech behind tokens/NFTs/etc on Solana
it supports the wider conversation that buybacks are usually pretty useful if your protocol is profitable enough
Infra plays make a lot of sense when they’re bringing in users:rev!!
(this tweet is powered by metaplex)
1/ In July, 5.5K $SOL ($950K) of protocol fees were used to buyback 6.4M $MPLX (over 0.6% of total supply) for the Metaplex DAO.
Protocol fees also generated $2.3M, the highest since January.
3.07K
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