According to breaking news, Resolv (RESOLV), which is also listed on Binance, activated its fee switch mechanism. Following this development, the altcoin’s price suddenly surged.
According to the statement made on its official blog, a portion of the daily profits generated will now be directly transferred to long-term value creation and RESOLV token holders.
In the new system, the protocol will only charge commissions on days when profits are made; there will be no deductions on days when losses or zero returns occur.
The new fee structure will come into effect as follows:
- Week One: 2.5% of daily profits
- Second Week: 5.0%
- Third Week: 7.5%
- Week Four and beyond: 10.0%
The collected protocol fees will be used to support DeFi, fintech, and enterprise integrations, ecosystem grants and product development, and token-focused initiatives like the RESOLV token buyback. Users will be able to monitor how these revenues are being spent in real time through a transparency dashboard that will be launched soon.
Resolv claims it can generate $50 million in annual revenue with a $500 million total asset locked (TVL) and a 10% annualized return (APR). Under the new model, $45 million of this would go directly to users, while $5 million would be retained within the protocol.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/breaking-major-update-to-binance-listed-altcoin-causes-price-surge/