Resolv Protocol Fires Back at Token Sale Rumors, Reveals Massive $240K Buyback!

Resolv's Customer Success Manager, Tim Shekikhachev, Drops Bombshell on X

Hold onto your hats, crypto fans! Resolv Protocol just threw a curveball at those wild rumors of internal token sales. In a jaw-dropping move, they announced they've been scooping up their own tokens like hotcakes, buying back a whopping 1.6 million RESOLV tokens amidst this rollercoaster of market volatility. You heard that right - they're not selling, they're buying!

Tim Shekikhachev, the man behind Resolv's customer success, took to X on June 27 and straight-up debunked the gossip. He declared that the protocol's foundation hasn't dumped a single RESOLV during this wild ride. "In fact, at current levels, we are strong buyers," he said, dropping the mic with news of a $240,000 buyback at around $0.15 per token, all within a 24-hour frenzy.

Listen up, because Shekikhachev's got more to say. "Seeing a lot of folks in the market look at price dynamics in $RESOLV, so it is the right moment to share facts and our team's considerations. Market situation. Resolv has released 15+% token supply into the market, including airdrop, market maker inventory, incentive budget. A…"

Even with the market doing somersaults, Shekikhachev is all about the long game, focusing on building value through beefing up their product lineup. Right now, RESOLV is trading at $0.1497, down 11% in the last day and a gut-punching 23% over the past week. Its market cap took a hit too, dropping to $21.09 million, a 33% fall from the all-time high of $31.4 million it hit on June 23.

Resolv isn't just any project; it's a decentralized stablecoin ecosystem powered by the big guns, Ethereum (ETH) and Bitcoin (BTC). They launched their governance and rewards token just this month, and only about 17% of its 1 billion total supply is out there circulating.

At the starting gate, they threw 2% of the circulating supply to Binance Coin (BNB) holders through an airdrop. And guess what? Resolv's now sitting pretty with over $368 million in total value locked, according to the latest from Dune Analytics.

But that's not all - Resolv's got more tricks up its sleeve. They're the brains behind USR, a delta-neutral, dollar-pegged stablecoin, and RLP, their insurance liquidity pool. They've been busy bees, diving deeper with partners like ether.fi and P2P Validator, and even launching an ecosystem vault for USR. And get this - Shekikhachev's claiming that their staking incentives and vault fee buybacks might just wipe out the projected annual inflation of $4 million in RESOLV token emissions. Talk about a game-changer!

This project, which started cooking up something special back in early 2024, has now spread its wings across Ethereum, Base, BNB Chain, and HyperEVM. In a June 25 update that shook the foundations, they revealed that RESOLV, USR, and RLP are now playing nice together across these chains, thanks to LayerZero (ZRO) and Stargate.

With a cool $10 million in seed funding led by the heavy hitters CyberFund and Maven 11, Resolv is all in on the modular, multi-chain future of DeFi. They're not just chasing token speculation; they're betting big on building the infrastructure that'll take us to the next level. Buckle up, because Resolv is on a mission!