Buybacks

All the profit generated from Flare DAO's veLFNTY and all royalties from secondary marketplaces (5%) are used to buy back Flares by placing bids on Tensor at the floor price.

Flares also have a secondary buyback mechanism. If they ever fall below 50% of their mint price, they are bought back with the pooled funds (as opposed to profit generated). This mechanism has not yet been used.

Flares that have been bought back are governed by Flare holders; they can collectively choose to do with them as they please.