Fuel Network Foundation: $1M FUEL Purchase Program

This post announces the Fuel Network Foundation’s plan to implement a $1M FUEL token purchase program starting this week. The program will deploy $250K weekly over a 4-week period to acquire FUEL tokens from the market.

Details

The Fuel Network Foundation will execute a series of token purchases to strategically restock the ecosystem treasury, strengthening our ability to support ongoing development and future growth. All purchased tokens will be transparently transferred to a dedicated Ethereum Mainnet address, allowing community members to verify the program’s progress. This initiative demonstrates our continued commitment to the Fuel ecosystem.

Specification

  • Total Allocation: $1,000,000 USD
  • Purchase Schedule: $250,000 weekly over 4 consecutive weeks
  • Execution Method: Market purchases on major exchanges
  • Address: All acquired tokens will be sent to this address on Ethereum Mainnet until the program’s conclusion

Rationale

The Foundation aims to maintain a well-stocked ecosystem treasury of FUEL tokens that is vital for Fuel’s continued development and growth. By executing these purchases, we:

  1. Ensure the Foundation has sufficient FUEL tokens to support future ecosystem initiatives
  2. Perform the actions with a public receiving address in a transparent manner
  3. Accumulate tokens that provide resources for future staking mechanisms or protocol incentive structures

We will reevaluate the program in 1 month based on market conditions and ecosystem needs.

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Attached is the spot trading history for the first 1M USD FUEL BuyBack program via randomized TWAP on ByBit.

Trading Started / Ended:
2025-04-24 / 2025-05-22

Total Trading Days
29

USDC Used (-~5.4k for professional fees):
$994,590.53

Total FUEL Bought
78,623,684.92

Total FUEL Received (+100 for testing)
78,623,784.92

For completeness, we will be adding 5409.47 USD of additional buying to the active BuyBack program to account for the professional fee deduction.