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:
- Ensure the Foundation has sufficient FUEL tokens to support future ecosystem initiatives
- Perform the actions with a public receiving address in a transparent manner
- 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.