@HaedalProtocol is a liquid staking protocol natively built on the @Sui blockchain. It allows users to stake their SUI (and WAL) tokens to contribute to governance and decentralization of the Sui ecosystem, while receiving liquid staking tokens (haSUI/haWAL) in return.
The Buy Back Mechanism
The buy back program of Haedal works as follows:
Revenue Allocation
- 50% of the weekly revenue from the protocol is used to buy back HAEDAL tokens on the market
- The other 50% is used for other protocol purposes
Distribution to stakers
- The repurchased HAEDAL tokens are distributed to veHAEDAL holders (vote-escrowed HAEDAL) as rewards
- These rewards are distributed weekly
Program objective
- Reward loyal community members
- Foster a sustainable ecosystem
- Encourage long-term investment
- Support the price of the HAEDAL token by creating constant buy pressure
How to get involved?
To benefit from the buyback, you need to:
1. Hold HAEDAL tokens
2. Convert them to veHAEDAL (vote-escrowed HAEDAL) by locking them up
3. Automatically receive your share of the weekly buybacks
The HAEDAL buyback is a straightforward yet effective mechanism: the protocol uses its profits to buy back its own token and redistributes these tokens to engaged stakers. It's a way to turn the protocol's yields into real value for loyal users, without gimmicks or complex mechanisms.
