Polytrade has always been at the forefront of innovation.
Although we’re still in Beta Phase 2, we are proud to reveal the first stats and fees from the Polytrade Marketplace, which have been used to buy back our native token from the open market.
This goes towards our goal and dedication to creating value and ensuring the long-term sustainability of our ecosystem.
Marketplace Statistics
We are excited to share with the community that the Marketplace has seen the below activity in Beta since the launch:
- Total Volume / GMV: $910,590
- Total Fees: $10,354
Fees are derived from a combination of Primary (typically 5%) and Secondary Fees (typically 1%)
Additionally, volumes on the marketplace were driven by the below categories.
| Categories | Volumes (%) |
| Collectibles* | 8% |
| Commodities & Currencies** | 77% |
| T-Bills | 5% |
| Contests | 8% |
| Real Estate, Creator Royalties | 0.1% |
| Others | 2% |
*Collectibles included our native drops with Artists such as Tyler Foust, IAN Woods, and JRNE, as well as tokenized assets such as tokenized Luxury Items, Diamonds Trading Cards, and other collectibles
**Commodities include tokenized gold, silver, platinum, & forex.
Though great to understand on a relative basis, these statistics are heavily dependent on the availability and activation of primary & secondary trading of assets within a category.
We expect to see the mix evolve further as we continue to onboard and activate more asset classes, protocols, and chains, and increase direct primary integrations with our partners.
The Buyback
As has always been committed, we are glad to announce that 100% of the fees generated have been used to buy back $TRADE. These will subsequently be added to our treasury for cold storage.
A total of $10,354 was used on Polygon and Ethereum to purchase 10,106 and 540 TRADE respectively.
Transaction Links:
- Polygon: https://polygonscan.com/tx/0x19912a874de8288af1463754e218ebb8d762e0a2eb21b23bc70a90d84dae44a8
- Ethereum: https://etherscan.io/tx/0xd42155b0ddd4fdf4cd98f9a4ebfe71d6aaf7230bce37d770ccb93932eecf31aa
All fees will be used for buybacks opportunistically throughout the year.
The Impact
We believe this first stat release and buyback lays the foundation of a robust value accrual system for $TRADE going into the future.
Although we are still in Beta, we aim to create a strong foundation for Polytrade as it grows into the leading RWA marketplace in the world.
Here are the principles that guide our actions:
Value Creation
By buying back $TRADE tokens, we are directly contributing to creating value in the ecosystem. As always, we remain committed to ensuring value flows to our community at all times, and these actions reiterate the same commitment.
Cold Storage
Adding the bought-back $TRADE tokens to cold storage in our Treasury ensures that they stay out of circulation. We do not intend to use these tokens in any way and will look into mechanisms such as burning after carefully weighing the decision.
Enhanced Trust and Transparency
This buyback initiative is a testament to our commitment to transparency and our proactive approach to managing the ecosystem.
We appreciate the unwavering support from our users and stakeholders and look forward to achieving new milestones together. Stay tuned for more updates as we continue to build and expand the Polytrade ecosystem.