The Towns Protocol plans to establish a sustainable feedback mechanism by repurchasing and burning $TOWNS tokens.

The communication platform Towns Protocol announced that it has generated over $2.10 million in fees since its launch. The majority of the fees will be used for strategic buybacks and burning of $TOWNS tokens to establish a sustainable feedback mechanism between usage and token demand. $TOWNS will serve as the foundation of the protocol, supporting its long-term development. Previously, the communication platform Towns Protocol completed an additional $3.30 million in funding, led by Coinbase Ventures and others. [ChainCatcher]