Re repurchased and burned approximately 677,900 reUSDe, accounting for about 4.7% of the circulating supply.

Foresight News reports that the decentralized reinsurance protocol Re posted on Twitter that in the past few weeks, it has repurchased and burned approximately 677,906 reUSDe at a discount of around 4% to NAV (net asset value). This repurchase accounts for about 4.7% of the total supply of reUSDe. The value of approximately $44,900 captured through the discounted repurchase will be returned to remaining holders in the form of a token price increase, which is expected to result in a one-time price boost of approximately 0.24%. The official announcement reminds users that the 7-day trailing yield data on the dashboard will be temporarily elevated in the coming week before returning to normal.