🔥Buybacks

Fire up the afterburners!

The Afterburner contract enables protocols to utilize their earned fees for leveraged buybacks. The contract takes the fees and uses them to purchase $CHAMP; it then continuously borrows the floor to purchase more $CHAMP until it runs out of capacity, pushing up the market price. Finally, it defaults on that loan, removing the earlier-bought $CHAMP from the circulating supply without impacting the market. Essentially an automated buyback and burn function. The Afterburner contract is triggered every 5 minutes.