Blast community initiates proposal to buy back BLAST tokens with $36 million per year

The community of Blast, the Ethereum Layer2 network, has published a proposal entitled "Buyback BLAST Tokens and Receive Proceeds", which states that Blast has a narrative problem, and to solve this problem, it is necessary to focus on price; it is proposed to convert the proceeds into BLAST tokens and use these proceeds through repurchases. Depositors will retain the full value of their proceeds: they will not receive ETH or USDB, but will immediately receive liquid BLAST tokens. The proposal states that currently, there are $1.20 billion of income assets on Blast L2. A conservative estimate of 3% annual yield yields $36 million per year that can be used to buy BLAST on the open market, equivalent to a bid of approximately $100,000 per day. At current prices, this bid would make the price fluctuate by + 4.8% per day.
It is reported that this proposal will result in $36 million of buying pressure for $BLAST tokens per year, and will also make user acquisition and engagement promotion activities more effective, thus re-activating users/builders and launching another growth flywheel, laying the foundation for the release of mobile applications.