Resolv Repurchases 1.6 Million Tokens Amid 23% Weekly Price Drop

Resolv Protocol has addressed market speculation regarding internal token sales, confirming that it has repurchased 1.6 million RESOLV tokens amidst recent market volatility. In a statement released on June 27, Tim Shekikhachev, the customer success manager at Resolv, clarified that the protocol’s foundation had not sold any RESOLV tokens during the recent downturn. Instead, the protocol executed a buyback of 1.6 million RESOLV tokens, totaling approximately $240,000 at around $0.15 per token over a 24-hour period.

Shekikhachev emphasized that Resolv is focused on long-term value creation through product expansion rather than short-term market fluctuations. Despite the recent volatility, which saw RESOLV's price drop by 11% in the past day and 23% over the past week, the protocol remains committed to its strategic goals. The market capitalization of RESOLV has decreased to $21.09 million, a 33% decline from its all-time high of $31.4 million reached on June 23.

Resolv, which launched its governance and rewards token earlier this month, has approximately 17% of its 1 billion total supply in circulation. The protocol has released 15% of its token supply into the market, including allocations for airdrops, market maker inventory, and incentive budgets. At launch, 2% of the circulating supply was distributed to Binance Coin holders via an airdrop. The protocol currently holds over $368 million in total value locked, indicating strong community support and liquidity.

The protocol manages USR, a delta-neutral, dollar-pegged stablecoin, and RLP, its insurance liquidity pool. Recent initiatives include deeper integrations with partners like ether.fi and P2P Validator, as well as the launch of an ecosystem vault for USR. Shekikhachev highlighted that staking incentives and vault fee buybacks could potentially offset the projected annual inflation of $4 million in RESOLV token emissions, ensuring the sustainability of the token's value.

Resolv, which began development in early 2024, has expanded its operations across multiple blockchain networks, including Ethereum, Base, BNB Chain, and HyperEVM. The protocol's tokens, RESOLV, USR, and RLP, are now interoperable across these chains via LayerZero and Stargate, enhancing their utility and accessibility. Backed by $10 million in seed funding led by CyberFund and Maven 11, Resolv is positioning itself as a key player in the modular, multi-chain future of decentralized finance (DeFi), focusing on infrastructure development rather than token speculation.