Resolv Protocol Makes Bold Bet on Itself With $240K Token Repurchase

Resolv Protocol has strongly denied rumors of internal token dumping, clarifying that it repurchased 1.6 million RESOLV tokens worth approximately $240,000 in the last 24 hours, according to a statement from Tim Shekikhachev, customer success manager at the protocol. He emphasized that no internal sales occurred during the recent price decline, stating, “At current levels, we are strong buyers.”

Token Buyback as Market Confidence Signal

The buyback, at an average price of around $0.15 per RESOLV, comes as the token trades at $0.1497, down 11% in the past day and 23% over the past week. Its market cap currently sits at $21.09 million, a steep drop from the $31.4 million all-time high recorded on June 23. Shekikhachev underlined the project’s long-term focus, highlighting product development and ecosystem growth over short-term speculation.

Ecosystem Growth and Tokenomics

Launched earlier this month, RESOLV is the governance and rewards token for the Resolv Protocol, a decentralized stablecoin ecosystem backed by Ethereum and Bitcoin. Only 17% of its 1 billion total supply is in circulation. Notably, 2% of circulating tokens were airdropped to BNB holders at launch.

The protocol manages USR, a delta-neutral stablecoin, and RLP, its insurance liquidity pool. According to Dune Analytics, Resolv holds $368 million in total value locked (TVL). New partnerships include ether.fi, P2P Validator, and a USR ecosystem vault.

Shekikhachev claims that staking incentives and vault fee buybacks could fully offset the projected $4 million in annual RESOLV emissions, addressing concerns about inflationary pressure.

Multichain Expansion and Vision

Since early 2024, Resolv has expanded across Ethereum, Base, BNB Chain, and HyperEVM, with interoperability enabled via LayerZero and Stargate. Backed by $10 million in seed funding from CyberFund and Maven 11, Resolv is positioning itself as a long-term infrastructure player in the evolving multichain DeFi landscape.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.